Travel insurance provides coverage for unexpected events that may occur before or during your trip, helping protect you against financial losses. But does travel insurance cover event tickets if your plans change and you can no longer attend? Here’s what you need to know.
What does travel insurance typically cover?
A standard travel insurance policy includes a few key coverages:
- Trip cancellation – Reimburses prepaid, non-refundable trip expenses if you need to cancel for a covered reason.
- Trip interruption – Reimburses for cutting a trip short due to a covered event.
- Emergency medical – Covers medical treatment costs if you become ill or injured while traveling.
- Travel delay – Provides reimbursement for accommodations, meals, and transportation if your travel is delayed for a covered reason.
- Baggage – Provides reimbursement if your luggage is lost, damaged, or stolen.
Most travel insurance plans allow you to customize your policy with add-ons like rental car damage coverage or a “Cancel for Any Reason” upgrade. Your chosen plan and added upgrades will determine your exact coverages.
Does travel insurance cover event tickets?
Whether travel insurance covers event tickets depends on a few factors:
- Your reason for cancellation – Most policies cover event tickets if you need to cancel due to a covered reason, like an illness, injury, or severe weather preventing travel. They generally won’t cover voluntary cancellation for a non-covered reason.
- Type of event – Tickets for concerts, festivals, conferences, or sporting events are often covered. But insurance may exclude some high-risk events like auto races.
- Cost of tickets – Policies have limits on total cancellation reimbursement, so high-priced tickets may only be partially covered.
- Add-on coverages – Upgrades like “Cancel for Any Reason” provide broader cancellation coverage for otherwise excluded losses.
Here are some scenarios where event tickets would typically be covered by travel insurance:
Covered Cancellation Reasons
- You get sick or injured prior to the trip and have to cancel.
- A family member who is not traveling with you becomes ill and you need to cancel to care for them.
- Severe weather or a natural disaster prevents you from traveling to the event.
- You lose your job unexpectedly and can no longer afford the event.
- The airline/cruise line abruptly ceases operations, requiring you to cancel travel plans.
- A terrorist incident or mandatory evacuation occurs at your destination.
For cancellation, the policy would reimburse any prepaid costs for event tickets that are non-refundable and charged as part of your trip.
Covered Trip Interruption Reasons
- You fall ill while traveling and are hospitalized, requiring you to miss the event.
- A family member back home dies and you must cut your trip short to attend the funeral.
- A hurricane hits while you’re at your destination, forcing you to leave early and miss the event.
- The airline has a workers strike and you can’t get a new flight in time for the event.
For trip interruption, the policy would reimburse the forfeited, non-refundable portion of your event ticket costs.
Key exclusions that apply to event tickets
Some common exclusions that may prevent coverage for event tickets include:
- Pre-existing medical conditions – Policies won’t cover cancellation/interruption due to pre-existing illnesses unless waiver is purchased.
- Mental/psychological conditions – Self-inflicted injuries, anxiety, depression, and other mental health issues are sometimes excluded.
- Pregnancy and childbirth – Cancellation due to pregnancy complications may not be covered if pregnancy started before policy was purchased.
- Business obligations – Choosing to cancel due to work/school obligations is not covered.
- Financial difficulties – Voluntary cancellation due to affordability issues is generally excluded.
- Policy purchase after an event – Losses aren’t covered if policy was purchased after an event has already occurred that would trigger cancellation.
- High-risk events – Policies may have exclusions for tickets to hazardous events like auto racing.
It’s important to read your policy carefully and understand all applicable exclusions before purchasing event tickets.
What if I need to cancel for an uncovered reason?
If you need to cancel your trip and event tickets for an uncovered reason, you still have a couple options:
- Purchase a Cancel for Any Reason (CFAR) upgrade – This allows you to cancel for any reason not otherwise excluded by the policy. With CFAR, you’ll typically be reimbursed for 50-75% of your nonrefundable trip costs.
- Look into resale or transfer options for the event tickets – Many event tickets can be resold or transferred through authorized vendors. You likely won’t recoup the full value, but reselling tickets can help recover some of your costs.
Key factors to consider when buying travel insurance for events
If you’re purchasing travel insurance for an upcoming event, keep these tips in mind:
- Buy early – Insurance should be purchased within 1-2 weeks of your initial trip deposit/payment for the most coverage.
- Insure the full trip cost – Your total coverage limits are based on total insured trip expenses.
- Read the fine print – Understand policy exclusions, limits, and when/where coverage applies.
- Consider event type risks – Does the event have hazards like storms, terrain issues, crowds, etc. that increase chances of cancellation?
- Compare plans thoroughly – Policies and upgrade options vary, so compare plans from multiple insurers.
What does travel insurance cost for event tickets?
Travel insurance cost depends on several factors:
- Your age – Older travelers generally pay more for coverage.
- Trip duration – Longer trips often have higher premiums.
- Destination – Some locations are deemed higher risk and cost more to insure.
- Chosen plan – More comprehensive plans are pricier than basic emergency medical policies.
- Policy limits – Higher trip cost coverage amounts increase the premium.
- Upgrades – Add-ons like Cancel for Any Reason raise the total insurance cost.
For a ballpark estimate, a standard policy for a $2,000, week-long US trip for a 45-year old may cost around $125. Upgrading to include cancel for any reason coverage could add another $150-$300 to the total premium.
Many insurers let you get quotes online based on your trip details. Comparing quotes from multiple companies can help you find the best rate.
What should you look for when buying insurance?
Key things to evaluate when selecting a travel insurance policy for an event include:
Factor | What to Look For |
---|---|
Coverages | Trip cancellation, interruption, delay, medical, baggage, and add-ons like rental car damage/CFAR |
Coverage Limits | High enough limits to fully cover event tickets, travel costs |
Covered Reasons | Illness, injury, weather delays, job loss, etc. Cause does not need to occur at destination |
Exclusions | Review exclusions for issues like pre-existing conditions, mental illness, pregnancy, and high-risk activities |
Reimbursement | Covers non-refundable portion of prepaid event ticket costs |
Customer Service | Good ratings for helpfulness/responsiveness of claims handlers |
Conclusion
Travel insurance can be a great way to protect your prepaid event ticket costs against unforeseen trip cancellations and interruptions. But coverage depends on your specific policy, reason for trip changes, and the event itself. Carefully review exclusions and consider upgrade options like Cancel for Any Reason to maximize your protection when buying event tickets.
If you need to file a claim for event tickets or other trip costs, be sure to notify your insurer right away and provide all documentation they request. This can include proof of payment for tickets, cancellation policies, medical records if applicable, and any written statement on why you needed to cancel or interrupt the trip. With proper documentation, you can receive reimbursement for covered losses subject to your policy terms and limits.
Though not guaranteed to cover event tickets in every scenario, travel insurance can give you peace of mind knowing that a sudden change in plans won’t lead to a total loss of your event costs. Compare plans from leading providers to secure the right policy for your upcoming trip and ticket purchases.