The truth behind ticket insurance

Booked a ticket to an event recently using an on-line service?

It’s likely you received a pop-up offering insurance in the event you can’t attend due to illness, travel interruptions or other unforeseen circumstances.

For around the cost of a coffee, insuring your purchase may provide peace of mind, particularly to the risk averse. However, a closer look at the finer details may cause you to think twice before insuring your ticket purchase again in future.

Like most insurance policies, there are specific inclusions (and exclusions) and processes to follow to be eligible to make a claim. Unfortunately, in the case of ticket insurance, purchasers (or policy holders) are typically unable to establish the extent of cover and how to claim until after taking out the cover, at which time a copy of the policy document is provided. In many cases, it can be difficult to obtain the policy document prior to deciding whether the insurance cover is right for you.

Think you’re covered in the event of illness on the day of your event?

You may be, but that doesn’t guarantee you can claim. In the event of illness, most policies require a medical certificate from a medical physician attesting to your condition and its impact on your ability to attend the event.

Unless your doctor bulk bills, being treated by a physician simply to obtain a medical certificate could set you back more than the cost of the ticket itself. If you’re travelling interstate or internationally there may be merit in securing your purchase against unforeseen circumstances, however, in some cases you may already be protected under credit card or other insurance – again notwithstanding the need to provide documentary evidence to your insurer.

The key take away? Before you purchase insurance offered as add-ons, such as ticket and travel insurance, first contact the insurance company to determine the eventualities covered.