INDIANAPOLIS – With all the uncertainties that come with pre-planned events like concerts and festivals, more people are buying insurance for their tickets these days.
Aside from unforeseen delays or cancelations, savvy scammers are also getting better at stealing tickets through the Ticketmaster website. According to the Better Business Bureau, a recent study in the U.K. showed 3 in 10 people would be likely to buy ticket insurance on events they plan to attend.
So is it worth it? The BBB recommends you consider these factors:
- Read the fine print before you buy. Always take the time to read the specifics about what ticket insurance covers and what it doesn’t. Different insurances offer widely varied policies. For example, some ticket insurances cover illness. Others cover car breakdowns but not stolen tickets. Consider the scenarios you may face to decide whether it’s worth buying the insurance.
- Contact the ticket seller. If you are mainly concerned with an event being postponed or canceled, ask the ticket seller how they handle those situations. In most cases, the primary ticket vendor will refund you if an event is canceled or postponed.
- Weigh the pros and cons of tickets to postponed events. Be sure you want to keep tickets to a postponed event if you are offered that option. Usually, once you agree to keep the tickets, you probably won’t get to change your mind later.
- If you are traveling for the event, check your travel insurance. Your travel insurance may allow you to claim a refund if you fall ill or encounter an emergency, meaning you won’t need ticket insurance from a third-party company.
- Always research the insurance company. Before purchasing from a third-party company, even if they are featured on a trusted ticket vendor’s website, do some research. Look up the company on BBB.org and read the business rating and customer reviews, keeping a close eye out for customer complaints.
- Watch out for ticket insurance scams. Don’t fall for phishing emails that promise you too good to be true deals on cheap ticket insurance, even if they appear legitimate. In addition, make sure you aren’t on a fake website if you do choose to purchase ticket insurance for an upcoming event.
Ultimately, the decision comes down to how important the event is to you, and if it’s worth spending money that may not be necessary but could bring you a little piece of mind leading up to the event.
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