Ticket insurance provides protection and peace of mind when you purchase tickets for events like concerts, sports games, theater shows, and more. It covers you in case you can’t attend the event due to covered unforeseen circumstances. The exact protections and benefits offered by ticket insurance vary between policies, but there are some common perks you can expect.
Key Benefits of Ticket Insurance
Here are some of the key potential benefits of ticket insurance:
- Reimbursement if you can’t attend the event due to a covered reason like illness, injury, or death
- Coverage for travel delays and cancellations that prevent you from attending
- Replacement tickets if yours are lost, stolen, or damaged
- Refund of ticket costs if certain extraordinary circumstances cause the event to be rescheduled or cancelled
- Protection if the event venue or performer changes
- Access to emergency medical and travel assistance services
The specific covered reasons, reimbursement amounts, and assistance services offered will depend on your selected insurance policy. But in general, ticket insurance aims to protect the money you invested in tickets and prevent you from losing out if unforeseen covered circumstances arise.
What Ticket Insurance Typically Covers
Ticket insurance policies may cover a range of situations and losses. Here are some examples of what standard ticket insurance plans often cover:
Illness, Injury, or Death
One of the top reasons people purchase ticket insurance is for coverage in case illness, injury, or death prevents them or their party from attending the event. Policies often cover both pre-existing and new illnesses. Coverage for pre-existing conditions usually applies if the policyholder was not hospitalized for that condition in the past six months.
Transportation Delays and Cancellations
Many policies provide reimbursement if your common carrier transportation (like a flight, bus, or train) to the event is delayed for a specified number of hours or cancelled entirely. This helps protect you if travel disruptions arise.
Venue Changes
If the venue for the event is changed after you purchase tickets, policies often allow you to receive a refund of the ticket cost. This protects you from venue issues outside of your control.
Performer Cancellations
Some insurance plans refund you or provide replacement tickets if the main performer or act cancels their appearance or the entire event is cancelled. This covers you if the event is called off or significantly altered.
Lost, Stolen, or Damaged Tickets
Replacement tickets are commonly offered if your original tickets are lost, stolen, or damaged beyond use. You’re covered in case your tickets encounter issues leading up to the event.
Bad Weather
For outdoor events especially, policies may provide coverage if severe weather conditions like heavy storms or tornadoes prevent attendance. Refunds are sometimes offered in these scenarios.
Reasons People Get Ticket Insurance
There are a variety of reasons consumers choose to purchase ticket insurance. Some of the top motivations include:
Expensive Tickets
For high-cost tickets, buyers want to protect their investment. If tickets cost hundreds or thousands of dollars, buyers don’t want to lose all that money if they miss the event due to unforeseen illness, injury, or other issues. Insurance provides peace of mind.
Events in Advance
The farther in advance you buy tickets, the greater the chance that an unexpected challenge could arise and prevent you from attending. Insurance helps hedge against something coming up down the line.
Once-in-a-Lifetime Events
For experiences like the Olympics, a favorite band’s farewell tour, or a Broadway show closing soon, ticket holders don’t want to risk missing out. Insurance provides a safety net in case they can’t make it.
Traveling Long Distances
When traveling far for an event, especially in other states or countries, ticket holders want protection in case travel problems occur. Insurance reimburses them if delays arise.
High-Risk Individuals
Those at greater risk for injuries, illnesses, or other issues may be especially likely to insure tickets. It helps them avoid losing money if health problems prevent attendance.
Risk-Averse Personalities
Some people are simply more risk-averse about finances and purchases. They value having insurance for peace of mind, even if risks are low. They prefer to pay a little extra as a precaution.
Comparing Ticket Insurance Policies
All ticket insurance plans are not created equal. When choosing a policy, here are some key considerations for comparison:
Covered Circumstances
Make sure the policy covers the situations most important to you, whether it’s illness, weather, cancellations, or other causes. Know the exclusions too.
Reimbursement Limits
See what percentage of the ticket cost is covered and if there is a per-ticket or total event limit. Limits often range from 100-150% of the ticket value.
Assistance Services
Look for convenient assistance like help rebooking travel or accessing medical providers if issues come up away from home.
Replacement Ticket Availability
In case of cancellations, see if you can get actual replacement event tickets and not just reimbursement. Replacement tickets provide another option.
Add-Ons and Upgrades
Determine if the policy covers just the base ticket cost or any add-ons like VIP upgrades, service fees, and processing charges too.
Pre-Existing Condition Coverage
See how the policy handles pre-existing medical conditions and what limitations may apply. Some exclude them entirely.
Change and Cancellation Terms
Review if you can receive a refund or make changes to the policy after purchase. See if cancellations are allowed for any reason or just specific causes.
Policy Feature | Basic Policy | Premium Policy |
---|---|---|
Illness Coverage | 50% reimbursement | 100% reimbursement |
Cancellation Coverage | Up to 1 day before event | Up to event start time |
Maximum Limit | $200 per ticket | $500 per ticket |
Weather Coverage | No | Yes |
This table shows a comparison between a basic policy and premium policy. When choosing, consider your needs and risk tolerance.
Steps for Purchasing Ticket Insurance
If you decide you want ticket insurance, here is an overview of the typical purchasing process:
1. Buy event tickets
First purchase your tickets to the event through the official ticket seller. Insurance must usually be purchased within a set timeframe after getting tickets.
2. Review insurance options
The ticket seller often provides recommended insurance choices at checkout. Review options and policy documents.
3. Select a policy
Choose the best policy for your needs and risk concerns. Opt for more coverage if you want more protection.
4. Provide travel details
You may need to provide basic travel information like destinations and dates. This helps verify you.
5. Pay insurance premium
Add the insurance policy to your cart and pay the additional premium. It may be a percentage of the ticket cost.
6. Submit claims if needed
If an insured issue arises later preventing your attendance, submit a claim form and documentation to receive your payout.
Getting ticket insurance is relatively quick and easy when you purchase soon after getting your tickets. It provides peace of mind leading up to the big event.
Using Ticket Insurance for a Refund
One major benefit of ticket insurance is getting your money back if you can’t attend for a covered reason. Here are tips for securing a smooth refund:
Review claim timeframes
There are often set timeframes, such as 48 hours before the event, when you must submit claims by. Know the policies rules.
Have documentation ready
Get evidence like a doctor’s note, police report, or travel records handy to validate your claim when you submit it.
Provide complete details
Give comprehensive info in your claim like ticket prices paid, event details, circumstances of your loss, and policy numbers.
Follow up if needed
You may need to provide additional details. Respond promptly to any follow up requests from your insurance provider.
Allow time for processing
It can take a number of weeks after you submit a valid claim to receive your payout. Be patient as it processes.
Accept payment
Payouts are typically made via check or electronic direct deposit. You’ll get instructions for accepting payment when approved.
With preparation and organization, the claims process can go smoothly. Keep documentation safe in case an issue arises down the line.
Common Ticket Insurance Exclusions
While ticket insurance provides valuable protections, there are scenarios that policies exclude. Some common exclusions to be aware of include:
Pre-Existing Medical Conditions
If you have an ongoing health condition, illness, or injury from before buying insurance, coverage related to it is often excluded. Chronic issues are not covered.
High-Risk Activities
Injuries stemming from aviation, hazardous sports, or other high-risk activities may not be covered since risk was already assumed.
Intoxication
Self-inflicted harm or illness occurring when under the influence of drugs or alcohol is typically not covered.
Mental health disorders
Anxiety, depression, stress, or fear may be excluded as approved claim reasons. Physical illness is more often covered.
Pandemics
Widespread contagious disease outbreaks like COVID-19 may be beyond the scope of standard policies. Special policies with this coverage are sometimes offered.
War and terrorism
Losses stemmimg from unrest, government restrictions, or prohibited zones due to threats or acts of war or terror are usually excluded.
Always read the full policy exclusions before purchasing insurance so you know what circumstances would not enable you to file a valid claim.
Pros and Cons of Ticket Insurance
Below is an overview of some key advantages and potential drawbacks of purchasing ticket insurance:
Pros
- Reimburses you if you miss the event for covered reasons
- Lets you recover some or all ticket costs if issues arise
- Refunds you if the event is cancelled or rescheduled in many cases
- Provides replacement tickets if yours are lost or stolen
- Delivers peace of mind knowing you are protected if plans go awry
- Is relatively inexpensive compared to total ticket prices
- Offers convenience with direct claims processing and assistance
Cons
- Does not cover all scenarios like pre-existing conditions
- May be unnecessary for inexpensive tickets or events you can easily reattend
- Prevents you from recouping costs for uncovered reasons
- Requires submitting timely claims with documentation
- Involves extra steps during the ticket buying process
- Only refunds you money, does not enable attending a missed event
The value depends on your specific circumstances. Evaluate the pros and cons based on your needs and the policy benefits.
Recap: Who Ticket Insurance Benefits
While it provides protection for many attendees, ticket insurance is ideal for:
- Those buying expensive tickets worth hundreds or thousands of dollars
- Individuals traveling long distances like overseas for an event
- People with health issues or at greater risk for emergencies
- Attendees who purchase tickets far in advance of the event date
- Groups coordinating attendance together
- Individuals prone to risk aversion and wanting peace of mind
- Anyone wanting financial protection for a high-value experience
For top events, performances, and experiences, ticket insurance can prove very valuable by covering you if issues arise. It keeps you from losing your ticket investment in various scenarios. Carefully review policies to ensure they offer protections matching your needs and concerns. With the right coverage, you can attend events with greater reassurance knowing you’re protected.
Conclusion
The key benefits of ticket insurance are reimbursing you the cost of tickets if you can’t attend a covered event due to issues like illness, travel delays, bad weather, or event cancellations. Policies provide peace of mind and let you recoup some or all of your ticket costs based on your specific circumstances and policy. Key factors to consider are the policy reimbursement limits, covered reasons, exclusions, upgrade options, and claims processing rules. While not necessary for everyone or every event, ticket insurance can give important financial protection for top-tier experiences and provide coverage if the unexpected occurs. For expensive events you don’t want to miss, it’s worth evaluating ticket insurance as a safeguard for your investment.