 Before we get started today, I do want to just mention something that I think you guys should know. And we're on this journey together all learning how to know buy tickets, sell tickets, make sure that you have fun with all the tickets. And that is that I'm moving. Currently in Ottawa, I'm going to end up moving to Toronto by the end of next week. So this might be the last video that I have here in this current setup in my old room. But at the same time, it means that unfortunately things are going to change over the next couple of weeks. But we'll kind of see how that flows and turns out. I know you may have noticed back here, got this travel bag there for all my clothes and things. So we're going to figure out what's the new setup, the new way things are going to look in the future. But for now, this is kind of our farewell to the end of this little era here. Lots of great memories, lots of great tips have been coming out to you guys. So all very, very exciting, super happy that I've been able to share this with you. Well, we're looking at making that next step and going somewhere new, trying something different. And it's all going to be very, very exciting, I think. So be sure to subscribe so you don't miss out on any updates. And with that, let's get started in today's video. Whoa, watch out. Don't step on that crack over there. You might hurt yourself, break your back, and it will go really, really bad. What happens when you step on that crack? What happens when you fall sick? What happens when you don't make your flight? Get worried, get stressed, you don't know what's going to happen, and you're going to miss your event. Not today, because today we're talking all about ticket insurance. Let's discuss. What's up, guys? Welcome back. My name is Suresh. Here on Thumbs Up Run, where we talk about buying tickets, selling tickets, and making sure that you have all the fun with your tickets. Today, we're talking all about ticket event insurance. What exactly is it? How do you get it? How much does it cost? And lastly, what does it actually mean and is it even worth it? Like, honestly, do you really need this thing? Well, let's find out. You see insurance for cars and travel and medical and all the other things in the world, but today we're moving into a new category, well, not so new anymore, but we're moving to another category, ticket event insurance. Especially if you can't attend the event anymore for any of the covered reasons or reasons that are eligible for insurance purposes, then you are covered and you will be able to recover your entire ticket purchase back. This includes the cost of the tickets, any taxes, fees, service charges, as well as any shipping costs, and then even if you have any other add-on such as parking or the like. With that being said, though, this does not mean that you can just always get your money back if you buy this insurance. Not quite. Event insurance is not a get out of jail free card. It's not an excuse to say, hey, I don't want to go to this event anymore, I want my money back. It doesn't work that way whatsoever, so don't be going into this expecting that to be the case. Ticketmaster and others, they will use Alliance Ticket Insurance. There are other companies that do the same thing, but they all generally follow the same type of procedures and rules. People have a list of eligible reasons of what will actually be covered in terms of requesting money back for the insurance. Otherwise, though, if they don't meet any of these reasons, then unfortunately you won't be getting any refunds. It covers basic things such as, you know, travel, getting to the event, whether it's, you know, having to take a plane, whether you're getting into any accident, so there's any traffic, things like that. Also covers any type of, you know, acts of God. So, you know, if there's a tornado or floods or canes, even some other random things such as, you know, if you have jury duty and you can't get out of it or if your house was burglarized, hopefully doesn't happen to you, but hopefully none of these things happen to you, to be honest, I'll show you an example of what the Canadian one looks like over here, but really, if there's any eligible covered reasons onto why you can't attend that event, they'll go ahead and actually give you that money back if you aren't able to attend. However, this does not include not being able to attend the event if you just didn't feel like it or, you know, you forgot the event was actually taking place. In addition, this is not something that you should be using if you're just trying to get COVID insurance on the event. Many of these insurance providers, they have a clause specifically stating that COVID is not a valid reason for not being able to attend the event. There are certain exceptions that may apply, so you have to make sure you pay attention to the terms and conditions very carefully, but for the most part, they're saying if this is a known thing such as a known pandemic or a known epidemic, then unfortunately, these type of reasons why you can't attend the event are not generally covered. So again, don't be buying this insurance if that's something that you're trying to avoid. Also, also, also, if your event ends up being postponed or canceled for COVID related reasons or any other reasons for that matter, it does not mean that you will go ahead and get your ticket refund through the insurance provider. That's not how it works either. If the event is postponed and you buy your tickets from Ticketmaster or any other primary marketplace, then you're gonna be able to get your refund through there through the whole refund request process, blah, blah, blah, blah, blah. Same thing happens with canceled events. If it's canceled, you won't go through the insurance provider, you will go directly to Ticketmaster or wherever you buy your tickets from and go through that process to get your money back. What the insurance provider will do, though, is if your event is postponed or canceled, you are eligible to then move that policy from those tickets that you already purchased that are now postponed or canceled and move them onto another event and have it apply there. So if the event that you want to go to gets canceled but you had bought tickets to another event where you did not buy the insurance for, you can go ahead and actually move your policy from the original tickets to the new tickets and use them that way so that your insurance is still valid and fine. There is a time limit on making that change, though you only have 770 days to make that change. So that's what event insurance is. That's what it does. But how much does it cost? Well, let's talk about that. So with Ticketmaster, they actually have a pretty flat fee. They say it's $8 per ticket if you buy the insurance when you're buying the tickets. Technically, the ticket purchase and the insurance purchase are two separate transactions, but as long as they happen all at the same time, you can go ahead and buy that insurance, $8 per ticket if you buy it all together. If you decide, however, that you don't want insurance right then, but you decide, you know, a couple of days down the road, a couple weeks, a couple months later, you say, hey, I still want to get that event insurance, you can, you can, but it will cost you a pretty penny. Now it's gonna go up to $20 per ticket. So it would have been $8, you bought it back at the beginning, $20 if you buy it a bit later. And again, there is even a limit on that. You can't buy ticket event insurance if you're buying it within 30 days of the event. If you're buying tickets on another primary marketplace, they will generally follow a very similar fee structure and timeline, but if you do go to a resale marketplace and you do want to buy event insurance at that point, it varies quite a bit. So for example, with StubHub, if you buy your ticket insurance through there, you can buy them on your resale tickets, however the price is a bit different. Their minimum is $7 or 5.75% of the ticket cost itself. One other difference though that I do want to mention, if you're buying resale marketplace tickets and you do want to buy event insurance, then you do need to buy it at the time of purchase. You don't get the ability to then buy it after the fact, you can only do it when you're making that purchase right then and there. Unlike with Ticketmaster and other primary marketplaces, you can buy it later. With resale marketplace tickets, you must buy it at the time of purchasing those tickets, otherwise you can't get the insurance at all. Now, now, now, if for whatever reason you buy the event insurance and you decide, ah, I don't really want this anymore, well it depends on the policy if you're able to cancel that insurance or not. With purchases on Ticketmaster, you can go ahead buy the ticket insurance and then if you decide a couple days later you don't want it anymore, you can. You generally have about 15 days to go in, cancel the policy, get the refund on the ticket event insurance and then that's it. You're out of it. You don't have to worry about it anymore and that is, that's that, that's a lot of that. Full disclosure, I have never purchased ticket event insurance ever, both primary or resale. Never have I ever bought ticket event insurance. Reason behind that is because I don't see the value in buying it. There are, I would say, specific circumstances where it may make sense to go ahead and actually purchase event insurance, but for the most part I don't know if it's actually gonna provide you any value. Yes, there are people who will be traveling to an event. They may have very tight windows of when they actually land, if they're flying in and they gotta get to the event right away and if there's any delays whatsoever, it's possible that there could be a situation where you just aren't able to actually make that event on time. If that's the case, you haven't got insurance, you're covered, you're not gonna have to pay for that event, you might miss the event, but you're not, you're not gonna be out basically missing the event and out all that money. So in that situation, I can definitely see there being some value to actually going ahead buying that event insurance. Where there isn't any value from actually buying this event insurance, I would say there's really two big ones. One, if you're buying an event insurance trying to protect yourself against COVID, don't, just no, you can't. Most if not all event insurance providers have already addressed this saying, hey, we do not cover situations where you can't attend the event due to COVID. So don't be buying event insurance with the hopes of being able to back out of your purchase because of COVID. It doesn't work that way, they already have lots of rules around it. So don't be going into it expecting that you'll be able to get out of your event just because of COVID. And number two, if you're buying tickets to resell, there is 0.000 reason to go ahead and actually buy event insurance. Again, event insurance is only there to protect the buyer from not being able to attend that event for a covered reason. If you're buying those tickets to sell those tickets, it doesn't matter then whether the event is canceled or postponed, you're gonna get the money back from the primary market anyway. If you are unable to attend the event, it doesn't matter because you're not going to the event. And if you're selling tickets to someone else, they are the ones who would then eventually want to make that decision on buying event insurance or not. Not you, that would be their decision. Your event insurance does not apply to those tickets then being transferred over to somebody else and then them not being able to attend that event. It doesn't work that way. So I would say if you're buying tickets to resell or if you're trying to avoid a specific type of pandemic type issue, don't be buying event insurance whatsoever. Only time I can really see value is if you're not unsure if you're gonna be able to attend that event, something's coming up. There may be some medical reasons that you might be able to attend that event. Things are happening at a certain time. Those are the only times where you might wanna consider buying it. But for the most part, I personally cannot see the full value of actually going ahead buying that insurance. Let me know what you guys think. If you agree, if you disagree, what your thoughts are on event insurance, have you ever even purchased event insurance before? Have you ever used the event insurance before? If so, let me know in the comments down below. I'm curious to see what you guys are thinking because again, I've personally never thought that I would ever need it. I've never been in a situation where it's needed to apply to me. But you never know, some people may have actually found this to be very valuable, very helpful. So if you are, just let me know in the comments down below. That's all we have for today though. So if you enjoyed this video, definitely hit that like button down below. Also, be sure to subscribe. Have an already great new content coming out every single weekend. See you guys next time.