Is Purchasing Insurance For Your Broadway Tickets Worth the Extra Cost Or Does The Hassle of Filing a Claim Outweigh the Benefits?

Broadway Ticket Insurance: How Does It Work?

We’ve all had that moment when purchasing travel tickets, whether it be for a plane, train, or hotel…that last set of questions before the final click…would we like to add on insurance to protect our purchase? The cost is always just a little more than we’d like to spend and unless the ticket prices are exorbitantly high and therefore extremely valuable, consumers are not likely to add on the extra fee.

But what about Broadway? If you had the chance to protect your theatre tickets, would you fork over the extra dough? Ticketmaster seems to think so. It’s one of the only Broadway ticket vendors to offer that extra layer of protection, through a company called Allianz Global Assistance. Dubbed Event Ticket Protector, Ticketmaster and Allianz developed the program together all the way back in 2006.

What is the Cost of Protecting Your Broadway Tickets?

So, can you put a price on peace of mind? For Ticketmaster, it’s a percentage, 10% of the ticket price to be exact. While seemingly paltry on its face since it’s not a dollar amount, it could really add up. That number could range from a few dollars to several hundred depending on the base cost of the ticket and how many are being purchased.

Broadway Times Square Theatres

Filing Claims: Simpler Than Doing Your Taxes But Harder Than Getting A Passport?

Allianz provides a long (depressing!) list of what’s insured ranging from illness and injury to travel issues to home burglary to all manner of ill-fated events. And as per usual, terms, conditions and exclusions apply.

According to the website, filing for a refund is fairly simple. One would do so by filling out an online form or calling customer service to process the claim. But refunds can take up to two months and do require extensive documentation. Like most insurance companies, there’s likely a hope that the consumer will give up. If the consumer is dealing with, say, the death of a loved one, they’ve got bigger fish to fry than eating the cost of a ticket.

Who is Biting? Tourists or Locals?

The program seems to be geared toward tourists and travelers since locals would have a much easier time offloading unwanted tickets. With so many resale sites out there (i.e. StubHub, craigslist) and other ways to advertise your items on social media (i.e. Facebook, Instagram, Twitter), Broadway tickets are pretty easy to sell, even on short notice. The seller might not get exactly what they paid but that’s just the cost of doing business.

Additionally, many Broadway shows will post-date unused tickets as well, pending availability. This lesser known practice would certainly act as a deterrent to ticket insurance. Just inquire at the box office and they will let you know when you might be able to show up and have your tickets honored at a future performance, in a comparable seat location. Again, much easier for locals than visitors.

Lost Broadway Show Ticket

Refunds Without Insurance

The pandemic really changed many of the more rigid Broadway refund policies, especially if they were purchased directly from the box office. These days it seems there’s more flexibility with returns and exchanges. Of course, your mileage may vary. However, out-of-towners are much more likely to use outside ticket vendors and the insurance may be appealing in case a whole trip gets canceled.

So, is it worth it? That depends on a variety of factors, of course. But if event ticket insurance were wildly popular, every outlet would offer it. And that’s clearly not the case. Ultimately, the consumer needs to do what’s best for them, buyer beware and all that. Most will likely decide, though, to save that extra bit of cash for an overpriced Broadway souvenir.