Insure That Ticket

[monet2u]

hmmm yet another fee you could incure on your tix purchase. Oh well, at least this one is somewhat useful.

Insure That Ticket
Updated 01:39 PDT Mon, Apr 09 2007
Concert ticket insurance was once given a farcical treatment in Pollstar.com's now-defunct Tours de Farce column but it looks like the joke was on us.

One insurance company has been providing "event ticket insurance" for nearly a year and is apparently getting great consumer response.
The company, World Access, is also in the travel insurance biz, and VP of Marketing Communications Mark Cipolletti explained to Pollstar that when people travel for big events like concerts and something goes wrong with the trip, those people miss out on the event as well.

With that in mind, the company created its "Event Ticket Protector" plan, he said, and has insured nearly $5 million worth of tickets in the last year.
"People have really responded well to this plan," Cipolletti said. "Obviously with ticket prices going up and up, and people buying further and further in advance and planning to attend these events, lots of unforeseen things can happen between the time you buy and the time that you go to the show."

Cipolletti explained World Access offers the product direct to consumer via its clients, and that the company is actively seeking to grow that client list - by inking deals with primary and secondary ticketers.
"We have implemented into 60 primary and secondary ticketing sites," Cipolletti said. Some current clients include TicketsNow, Event Inventory, InTicketing, Coast to Coast and Track Entertainment.

And when concertgoers opt to insure their tickets, Cipolletti said they are covered for "unforeseen medical, travel, and other circumstances that would prevent you from attending the event.

"Basically, it covers 100 percent of the ticket price, including any taxes that you've paid or shipping charges that you've incurred," he said. "It totally makes you whole for what you purchased the ticket for and it's coverage up to $10,000."

Unforeseen circumstances outlined in the company's policy include illness or serious injury (excluding preexisting conditions); traffic accidents or mechanical breakdown; the ticket buyer's home becoming uninhabitable due to natural disasters, vandalism or robbery; caring for an injured family member; jury duty; and military duty, among others. "You can't just change your mind and decide not to go to the show," Cipolletti explained. "It has to be for some unforeseen event that's out of your control."

But there is one unforeseen event that the insurance will not cover: cancellation. "Event Ticket Protector does not provide coverage if an event is canceled, mainly because the ticket holder is almost always made whole by a venue that will reschedule a show or refund their money," Cipolletti said.

Coverage is apparently calculated on a per-ticket basis at 5 percent of the total ticket cost and service fees, with a minimum charge per ticket of $6.25 and a maximum charge of $150.

Cipolletti explained the insurance could provide a little extra comfort for those who purchase tickets to expensive shows, and also provide ticketing companies with ancillary income.

"It's just a great way to not only help provide a new revenue stream to the ticketing company but to really assure the purchaser," he said. "Maybe they're reluctant about spending the money but then it helps them pull the trigger on going to the show, because they know that if something happens, they'll be able to get their money back."

Dana Parker-McClain / Pollstar

[Irock]

Seems like good idea to me - provided it's not mandatory.

As for cancelations, and "the ticket holder is almost always made whole by a venue that will reschedule a show or refund their money," Perry Ferrell still owes me "printing and shipping fees" for that canceled Lollapalooza tour. I don't know how they're non-refundable fees if the tickets were never printed or shipped, bastards.

[monet2u]

yeah I'd probably go for it, if I was buying a tix far in advance. However, the odds are in their favor that all will be just fine and so you're not out another $6 + bucks.

[eebs]

does it include "i'm knackered and can't be arsed to go at the last minute so it's too late to flog the tickets on ebay" cover?

that would be handy on occasions.

[monet2u]

hmmm let's see....

Unforeseen circumstances outlined in the company's policy include illness or serious injury (excluding preexisting conditions); traffic accidents or mechanical breakdown; the ticket buyer's home becoming uninhabitable due to natural disasters, vandalism or robbery; caring for an injured family member; jury duty; and military duty, among others. "You can't just change your mind and decide not to go to the show," Cipolletti explained. "It has to be for some unforeseen event that's out of your control."

nope, suppose not

[sam]

Seems reasonable for big festival type tickets, but those are usually the easiest to re-sell, I think. If it covered all the other travel costs as well, that would be something.

[rockfan]

If it covered all the other travel costs as well, that would be something.

That's just regular travel insurance. It does exist.

[sam]

If it covered all the other travel costs as well, that would be something.

That's just regular travel insurance. It does exist.

Right, so what is the point then? Lots of credit cards have travel insurance built in, as do many agents, so the cost of the ticket is covered but if it's high, it is probably to something cool enough that you can dump it at face value right away.