Why You Should Be Offering Ticket Insurance & Why It’s Worth Getting

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If the mass cancellations of events during COVID taught us anything, it's that ticket refund is painstaking especially without ticket insurance. In this blog, we discuss how ticket insurance benefits both ticket stores and customers and if it's worth having.

Research by Which? shows that UK event-goers are more likely to buy ticket insurance now than before the pandemic and we owe it to the successive mass cancellations and events people missed due to lockdowns and illness. These circumstances were glaring enough to cause a shift in people’s attitudes towards risk, so as in their ability to anticipate similar uncontrollable events in the future. Rightfully so! After all, if you’re unable to attend your booked event, you might as well earn the right to stake your claim over a full refund. This is what ticket insurance is for.

Event-goers have clearly developed a renewed interest for booking protection and it’s high time for ticket stores to answer the call. 

Haven’t considered ticket insurance yet? Here’s why you should start offering ticket insurance in your ticket stores and how it benefits both your patrons and yourself.

As An Event Promoter, How Does Ticket Insurance Benefit Your Outfit?

At first glance, ticket insurance is geared towards the welfare and peace of mind of ticket-buyers. However, it comes with indirect benefits to e-ticketing outfits as well, much like our valued Eventcube Pro users.

Responsiveness to real needs. Ticket insurance is more valuable now than it has ever been after the peak of the COVID-19 crisis. By offering ticketing insurance as an add-on, you arm customers with pre-emptive mechanisms that shield them from the full impact of specified emergencies. 

Instilling trust and amping up brand-reputation. The logistics aside, offering ticket insurance is a loud display of empathy towards customers’ lives outside your brand ecosystem. It’s recognizing that your relationship doesn’t end at checkout and that your brand cares about the what-if’s that occur between the sale and the event. More importantly, it’s a show of commitment that you’re willing to help customers at a time when circumstances don’t swing in their favour. 

Imagine being remembered as the ticket outfit that wasn’t only considerate enough to present ticket insurance as an add-on, but also efficient in its resolve to refund customers who are unable to make it to their event.

Reduced legwork in assessing and settling insurance claims. Without ticket insurance in place, ticket merchants are left to their own devices to arbitrarily evaluate refund claims. This could take days of endless phone calls and emails that for small event teams would be nothing short of burdensome. With our insurance integration at Eventcube, you can lean back and let TicketPlan do all the work for you.

TicketPlan handles all customer claims through their website and collects all supporting documents on your behalf. Just send your customers to https://www.ticketplangroup.com/eventcube to submit a claim and tune in only when needed.

Say goodbye to spending an entire weekend with your team answering inquiries rather than celebrating the success of your event. 

This reduced customer support effort (because you are redirecting all refund claims to TicketPlan) means that you can reserve customer support time for event-related concerns and in improving attendees’ experience with your event. 

As a Customer, Should You Purchase Ticket Insurance for Your Next Event?

Buying tickets is an exhilarating experience, especially if it’s to see your favourite artist or to attend an event franchise you’ve been waiting a long time to come to your city. The anticipation, mixed with the excitement makes it difficult to envision the possibility of not being able to attend at all. No one wants to rain on their own parade!

Ticket insurance is not required of ticket buyers. It’s an add-on which means that it’s completely up to the customer to decide whether a £1 insurance on top of a £10 ticket is worth getting…just in case. In real life, there’s not much thought needed to be put into it but if you’re one of the many who remain doubtful of the added cost, perhaps, this guide could help.

You Should Purchase Ticket Insurance If…

  • You’re buying tickets for a group or yourself.
  • You become unwell unexpectedly.
  • You are a member of the armed forces whose leave could be cancelled at any given time or who could be posted overseas with prior notice. 
  • You reside in a place with extreme and erratic weather conditions.
  • You simply want to prepare for any unexpected event that might prevent you from attending your booked event. Some of these being:
  • Mechanical breakdown en route to the event.
  • Unexpected disruption in the public transport system.
  • Death, accident or illness befalling you or a family member.
  • Jury service or court summons that are served without enough prior notice.

If you don’t select ticket insurance, just remember that once your ticket order is processed, you cannot go back and add booking refund insurance.

Can I Get My Money Back from Postponed or Cancelled Events?

TicketPlan does not refund tickets to events cancelled or rescheduled by organisers, venues, and ticket sellers. Customers would either have to wait for confirmation of the new event date or seek a refund from the event organisers themselves rather than through TicketPlan channels.

In the case of local and national lockdowns where event cancellation is necessary, you are legally entitled to a full refund from the event organiser. 

Eventcube’s TicketPlan Integration

Eventcube’s partnership with the UK’s most trusted booking protection and ticket insurance provider, TicketPlan, means that ticket store owners can now offer their patrons the choice to future-proof their attendance to events for only a fraction of the ticket price. 

Check out how much insurance is charged for every ticket price range under £300 here. 

  • >£0 - ≤£20 = £1
  • >£20 - £≤50 = £2.5
  • >50 - £≤75 = £2.99
  • >£75 - £≤100 = £3.99
  • >£100 - £≤150 = £5
  • >£150 - £≤200 = £6.5
  • >£200 - £≤300 = £8.5
  • >£300 = not covered
  • Instalment tickets are not covered.

To activate the ticket insurance integration, simply follow these three steps.

  1. Create an Event.
  2. Head over to Advanced Settings.
  3. Toggle Enable Booking Refund Insurance (UK events only).

This integration is active by default for UK-based ticket stores. Feel free to turn the setting off as needed. 

What Does Eventcube’s TicketPlan Integration NOT Cover?

It’s clear by now that ticket insurance is designed to safety-net your attendance from emergencies and other unexpected life circumstances. 

To more clearly draw the line between what is insured and what isn’t, here’s are some scenarios where claims would fall outside the scope of TicketPlan insurance:

  • The failure to attend the event is due to lack of planning and preparation.
  • You simply decided to skip the event.
  • You’re unable to show proof of unused tickets.
  • You’re unable to present a doctor’s report for an accident or illness. 
  • If you’re pregnant, the only reason you missed the event was because of symptoms that accompany a normal pregnancy.
  • Death or illness reasoned as the cause of inattendance is due to a pre-existing medical condition.

Read the policy summary here.

For customers, the decision to purchase ticket insurance is anchored on foresight and peace of mind. This gives ticket stores all the more reason to take advantage of the TicketPlan integration and equip customers with protective mechanisms they would not have access to otherwise. After all, the choice to think ahead and protect transactions is becoming a customer expectation. This one small extra step goes a long way.