Travel Insurance: Which Tickets Have You Covered?

Ticket insurance is a type of protection that might reimburse your ticket purchase if you can't attend an event for certain covered, unexpected reasons. It is offered by companies such as Allianz Global Assistance and Ticketmaster. Allianz's Event Ticket Protector costs about 10% of the ticket price and covers 18 reasons for ticket cancellation, while excluding 20 general reasons. Ticket insurance may be worth it for some, especially if you are a practical person who likes to protect your investments, but for others, the additional cost is not worth it due to the narrow coverage it provides.

Characteristics and Values of Ticket Insurance

Event Ticket Protector from Allianz Global Assistance

Event Ticket Protector™ from Allianz Global Assistance is an event ticket insurance product that provides coverage if you cannot attend an event for a number of covered reasons. For a small percentage of the ticket price, you can receive a full refund, including taxes and shipping charges, if you cannot attend an event due to unforeseen circumstances.

Covered reasons for missing an event include serious illness or injury (for you or a covered family member), traffic accidents, mechanical breakdown of your car within 48 hours of the event, airline or carrier delays, and issues with your home or business, such as fire, flood, vandalism, burglary, or natural disasters.

Event ticket insurance provides peace of mind and protects your investment in seeing your favourite teams, performers, or shows live. It offers a proactive solution for dealing with unanticipated circumstances that may prevent you from attending an event. For example, you may find yourself unable to attend an event due to severe weather conditions, a positive strep test, or unexpected issues with your home or business.

When purchasing event ticket insurance, it is important to carefully review the terms and conditions of the policy. While it provides coverage for a range of circumstances, there may be exclusions and limitations. It is also essential to keep solid documentation of your circumstances, such as doctor's notes, police reports, or employer letters, as these may be required when filing a claim.

Event Ticket Protector™ from Allianz Global Assistance offers a reliable solution to protect your investment in event tickets. By purchasing this insurance, you can have peace of mind knowing that you will be reimbursed for the full ticket price if you are unable to attend an event due to covered reasons.

Ticket insurance covers unforeseen illness, accidents, and travel issues

Ticket insurance is a great way to protect your investments, especially if you are a fan of live events. It is a reliable option that guarantees peace of mind and a refund in case you cannot attend an event for covered reasons. These reasons include unforeseen illnesses, accidents, and travel issues.

Event Ticket Protector™ by Allianz Global Assistance is one of the most popular ticket insurance options. It covers serious unforeseen illnesses, including those of covered family members. It is important to note that the definition of 'sick' is very specific in insurance terms, and it is advisable to check the certificate of insurance or policy for detailed explanations of coverage. To make a claim, solid documentation is required, such as doctor's notes, police reports, or employer letters.

Ticket insurance also covers traffic accidents and issues with your home or business. For example, if you are involved in a car accident on your way to an event, your insurance may provide a refund. Additionally, travel issues such as airline delays are covered. This means that if your flight is delayed, causing you to miss your event, your insurance may provide compensation.

Ticket insurance is particularly useful for expensive tickets, as it ensures you get a refund for unforeseen circumstances. However, it is important to carefully consider whether the policy is a worthwhile investment, as the coverage is narrow, and there may be overlaps with other insurance policies you hold. For instance, some travel insurance policies cover costs for events missed due to travel-related complications. Therefore, checking the terms and conditions of your existing insurance policies is recommended before purchasing ticket insurance.

Ticket insurance saves time for organisers

Ticket insurance is a valuable option for organisers and customers alike. It is a way to protect ticket purchases and give customers peace of mind. When ticket insurance is offered, the responsibility for refunds and claims is handed over to the insurance company, saving organisers time and energy.

Organisers can benefit from offering ticket insurance by utilising the resources of insurance companies, such as their filing, claims, and customer service departments. This can help build a positive and loyal relationship with customers. Insurance companies can deal directly with customers who can no longer attend an event, saving organisers the time and hassle of managing refunds and claims themselves.

Ticket insurance can also provide organisers with a level of protection against unforeseen issues that may arise for customers. For example, customers may need to cancel their attendance due to sickness, delayed flights, or other unforeseen circumstances. By offering ticket insurance, organisers can ensure that customers are protected and receive a refund for their purchase, even if the organiser cannot provide a refund directly.

Additionally, ticket insurance can help organisers by reducing the number of last-minute cancellations and no-shows. Customers who have purchased ticket insurance are more likely to make an effort to attend the event, as they may not want to lose the money they have invested. This can lead to higher attendance rates and a more successful event overall.

While ticket insurance may not be necessary for every event, it can be a valuable option for organisers to consider, especially for larger or more expensive events. By offering ticket insurance, organisers can provide customers with peace of mind and protect their own time and resources, ultimately enhancing the customer experience and satisfaction.

Ticket insurance is not always worth the investment

Ticket insurance is an additional cost that may not always be worth the investment. While it can provide peace of mind and protect your investment, it is important to carefully consider whether you need it.

Ticket insurance is often offered as an option when booking trips, concerts, and events. It provides coverage in case you are unable to attend due to unforeseen circumstances such as illness, accidents, or natural disasters. Some policies also cover cancellations or postponements by the event organizer, while others do not. It's important to carefully review the terms and conditions of the policy before purchasing, as coverage can vary significantly between providers.

One of the main considerations when deciding whether to purchase ticket insurance is the cost. Ticket insurance typically adds an extra 10-15% to the ticket price, which may not be a wise investment, especially if you have other options for protecting your purchase. For example, choosing refundable fares, utilizing travel credit card benefits, or considering trip cancellation waivers can provide similar protection without the additional cost of insurance. Additionally, if your trip includes other non-refundable bookings such as hotel stays or car rentals, a standalone travel insurance policy that covers the entire trip may be a better option.

Another factor to consider is the likelihood of needing to use the insurance. If you have pre-existing health conditions or are more prone to illnesses, ticket insurance can offer peace of mind. However, if you are generally healthy and do not anticipate any issues attending the event, the extra cost of insurance may not be necessary. Similarly, if you are attending an event that is unlikely to be impacted by unpredictable circumstances, such as an indoor event in a city, the chances of needing to use ticket insurance are lower.

Lastly, it's important to remember that ticket insurance does not cover every situation. There may be exclusions in the policy, and certain scenarios, such as changing your mind or work commitments, typically do not qualify for a refund. Additionally, there may be limitations on the reimbursement amount, and it may not always be financially feasible to pursue legal action if your claim is rejected.

Ticket insurance may not cover every situation

Ticket insurance, such as Allianz Global Assistance's Event Ticket Protector, can provide peace of mind in case you can't attend an event. Covered reasons for not being able to attend an event include serious unforeseen illness, traffic accidents, issues with your home or business, airline delays, and even termination of employment. However, it's important to note that ticket insurance may not cover every situation.

While ticket insurance can provide financial protection in case of unforeseen events, there are typically exclusions and limitations to the coverage. For example, if you change your mind about attending an event or if there are unclear circumstances, your claim may be rejected. In such cases, pursuing legal action can be expensive and may not make financial sense.

Additionally, the definition of certain terms in the insurance policy may differ from their general understanding. For instance, the term "sick" may have a specific definition in the policy that differs from its common interpretation. It is essential to carefully review the certificate of insurance or policy document to understand the detailed explanations of coverage. These documents can be technical, and certain terms may be narrowly defined.

Before purchasing ticket insurance, it is advisable to check your other insurance policies to avoid overlap in coverage. For example, travel insurance policies may already cover costs if you can't attend an event due to travel-related issues. Credit card benefits are also worth considering, as some cards offer exclusive event benefits or travel insurance that may include ticket protection.

While ticket insurance can provide reassurance, it is important to recognize that it may not cover all possible scenarios. Understanding the specific terms, conditions, and exclusions of the policy is crucial before making a decision. By reviewing the policy details and considering alternative sources of protection, you can make an informed choice about whether ticket insurance aligns with your needs.

Frequently asked questions