What does falling ill before an exam, Alanis Morrissette’s ‘Ironic’ and a personal emergency the day of a concert all have in common? On the surface, the three are completely unrelated – they do, however, all focus on unfortunate, unforeseen circumstances. Thankfully, a recent trend in the ticketing industry has you covered for the lattermost situation. This refers to ticket insurance, and it is eliminating purchase regret.
‘Ticket insurance’ denotes the option to ensure one’s financial investment in an event in the situation that they may find themselves unable to attend an event at the last minute. While some may argue that this few-dollar fee, on top of service fees and taxes, isn’t worth it, others rely on it for financial peace of mind.
Really – is it worth it?
The mission statement of event insurance is allowing consumers to feel completely at ease when purchasing event tickets by removing the commitment from the buy. Ticket insurance generally reimburses the amount paid for the ticket itself including shipping and service fees.
The only cause for concern about purchasing ticket insurance is the amount of coverage it actually provides. Depending on the ticketer, insurance can cover anything from traffic delays to home emergency – it may not, however, cover circumstances come about by pregnancy, terror or operating an aircraft.
In general, however, the few-dollar fee to ensure all plausible, unforeseen scenarios is low enough that ticket insurance may just be worth it.
Why would ticketing platforms care?
Ticketing platforms are forward about giving their customers the option of ticket insurance at checkout for two reasons: one, because customer experience means regular business, and two, because ticketers make a profit from the insurance fee.
More and more people are choosing to ensure their event tickets for a price because of Event Protect, whose goal is to give its customers excellent consumer support and exciting, unworried event experiences. Event Protect’s target market is event-goers who purchase their experiences several months in advance – by promising to reimburse money that would otherwise be lost without ticket insurance, the startup is removing the stress of committing to distant plans.
Unless you’re a pregnant pilot, ticket insurance is a wise choice for protection against life’s unforeseen impediments that internet-based startups facilitate every day!