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Ticket Cancellation Insurance Policy: Know All About This New Insurance


If you are an enthusiast who follows movies and other such stuff and make bookings for them on an online basis but at some instances also face the risk of losing all the money due to failure to attend them as some other priory work that needs to be attended too. Here's an unique insurance product available that can secure all such money of yours by HDFC Ergo.

Ticket Cancellation Insurance Policy: Know All About This New Insurance

With this policy in place, all the parties will be at an advantage as the customer making the cancellation for a pre-booked ticket will be able to get the money back and also event organizers and online ticketing partners will also be covered in case of cancellation by customers. The customers can now on secure refundable or non-refundable event tickets.

The all-risk policy will carry the loss in a case when such as the ticket sale, cancellation thereafter, refund made by the ticketing partner to the customer.

For the event organizing company

Sum insured value in case of the policy shall be equal to the total ticket value booked in one transaction. The premium amount for such a policy is yet to be disclosed by the private insurer.

With no exclusions in the product, ticket cancellation for any of the reasons shall be paid back.

Nonetheless as per the terms of the insurer, the stakeholders will not be compensated in case of event getting cancelled, postponed, abandoned or re-located by the event organizing company.

Policy will be on offer for social and corporate events

All such events such as the sports matches, training workshops, adventure, corporate and other events will be covered by the policy.

Story first published: Thursday, March 1, 2018, 14:02 [IST]
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