BBB
With all the uncertainties that come with a pandemic, more people are purchasing ticket insurance for concerts, festivals, and sports events than ever before. In fact, one study done in the United Kingdom reported that around three in 10 people would now be more likely to pay for ticket insurance, thanks to mass cancelations of big events that took place early on in the pandemic.
But is ticket insurance really worth the cost? BBB recommends the following tips if you’re considering making the purchase.
Is Ticket Insurance Worth It?<br>
- Read the fine print before you buy. Always take the time to read the specifics about what a ticket insurance covers
and what it doesn’t. Different insurances offer widely varied policies.
For example, some ticket insurances cover illness, but not pandemic
related illness. Others offer a refund if you test positive for
COVID-19, but not if you were simply exposed to the virus and need to
self-isolate. Others cover car breakdowns but not stolen tickets. Take
into consideration the scenarios you may personally 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 offer you a refund if an event is canceled or
postponed because of the pandemic.
- 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 make a claim for a refund if you test positive for
COVID-19, which may mean you won’t need ticket insurance from a third
party company.
- Always research the insurance company. Before
making a purchase 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.
For More Information
To stay safe while purchasing event tickets, be sure to read BBB's tips for buying tickets to an event and the BBB Scam Alert about fake events and phony tickets. For general information on avoiding scams, visit BBB.org/AvoidScams.
Report scams and dishonest businesses to BBB.org/ScamTracker.
Cover image courtesy Pixabay