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Now You Can Buy “Ticket” Insurance
By JLP | February 14, 2007
FYI - I’m NOT getting paid to post this.
What will they think of next?
I just received the following email from a PR person for a company called World Access, an insurance company that now offers “ticket insurance.” I’ll go ahead and post the email since it’s short:
From NASCAR to the Masters to March Madness, Fans Can Get Peace of Mind for High-Priced Tickets
RICHMOND, VA, February 14, 2007– Sports fans are willing to ante up big bucks for their favorite events – such as $1,000 for the Daytona 500 or a final round of The Masters, three grand for the Final Four or even more for courtside seats to an NBA All-Star Game (prices according to TicketsNow.com).
But what happens if something unexpected happens on your way to the big game and you can’t use your tickets? Missing all the action doesn’t have to be a total loss… now that there’s ticket insurance.
Last year, World Access, a leading insurance and assistance company, introduced Event Ticket Protector, which will reimburse you for tickets if you can’t go due to covered reasons. For example, if you, a family member or traveling companion gets sick or injured, or something unexpected, like a traffic accident, keeps you at home, Event Ticket Protector will reimburse you for the full price of the tickets – including fees – if you have to miss the event.
“We’ve insured more than $4 million in tickets since launching this product eight months ago,” said Emily Porter, spokesperson for World Access. “Ticket insurance is becoming popular fast, especially for events that are expensive or are purchased months in advance – two situations that create a higher risk for the consumer.”
Available through TicketsNow, InTicketing.com and many other brokers, Event Ticket Protector insurance typically costs 5% of the ticket’s face value. So, a $1,000 ticket to Daytona is about 50 bucks.
First off, $3,000 for the NCAA Final Four? How crazy is that? At 5%, it would cost $150 to insure those tickets. I guess if you’re spending $3,000, what’s another $150, which is EXACTLY what the insurance company wants you to think. It’s true: you really can insure everything!
What do you think? Would you ever buy insurance on your tickets?
Topics: Miscellaneous |