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With all the uncertainties of pre-planned events, more people are purchasing ticket insurance for concerts, festivals, and sports events than ever before. 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 have taken place over the last three years.
But is ticket insurance worth the cost? BBB recommends the following tips if you’re considering making a purchase.
Is ticket insurance worth it?
- 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.
For more information
To stay safe while purchasing event tickets, 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.