Event Ticket Insurance… Gotta Be Kidding Me?

I had no idea that this even existed but I guess it’s not surprising. If you’ve ever purchased tennis tickets online, you know that the fees can be outrageous. In a few days, tickets for the US Open Tennis tournament will be put on sale. I will be waiting in a virtual line when they’ll be made available for purchase  and will be buying about 7 tickets for myself (several days) and others for my wife, friends and family. The ticket prices range from $65 to $110 (those I’m looking for). That amount is pre-fees though. On every single ticket, Ticketmaster charges about $10 of fees!! Seriously? For what exactly? I’ll be buying about 60 tickets and thus paying $600 of fees?

It gets worse when you buy tickets from resellers such as Stubhub and others that can charge $30-40 or more per ticket.. It’s insane and I’m not sure why no other business has been able to make this change. I guess the problem is that the institutions selling the tickets (US Open in this case) are not the ones paying the fees so it’s not a big issue for them.

Oh well… what can you do right?

Then today, I read an article in the L.A Times about Ticketmaster selling event insurance on some of their tickets..! That is insane. They have been selling insurance for $7 but in reality it covers a lot less than you’d think. Yes, you will be reimbursed if your car breaks down or your house goes on fire or if you die of natural causes. You will not be reimbursed for example if the show is cancelled or if your tickets get stolen or if there is some kind of terrorism, etc. There are many exceptions.

Just Not Worth It

$7 is a lot considering the odds that something like that will happen and there are good odds that even if they did, you will get reimbursed. A few years ago, I tried going to Japan but never made it because of the Tsunami. I had tickets for the Jack Johnson show in Tokyo and thought that my money would be lost. After all, the show had been rescheduled and I’d be unable to attend. It turns out that I was able to explain the situation and get reimbursed. I also could have sold the tickets.

Be smart about buying insurance, in some cases, it really is not worth it

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