Concerts can cost big bucks. Can ticket insurance protect your investment?

Philip Drost · CBC Radio

· Posted: Jun 01, 2025 4:00 AM EDT | Last Updated: 9 minutes ago

Ariana Rendon says Kendrick Lamar is 1 of her favourite rappers of each time. So erstwhile helium was playing successful New York City, wherever Rendon lives, she had to get a ticket. 

But tickets to spot large acts similar Lamar are expensive. When Rendon got to the online checkout, she saw the enactment to cheque a container and adhd connected summons insurance. 

And she went for it.

"It's similar erstwhile you spell retired and [are] like, 'let maine conscionable bring a overgarment conscionable successful lawsuit I get acold oregon something.' It's thing similar that. Just successful lawsuit you cognize you person it, truthful if thing happens, you'll beryllium good," said Rendon. 

According to a study by Polstar published successful January, the mean outgo of a performance summons globally for top-100 touring artists was $135.92 US ($187.79 Cdn), compared to 2015, erstwhile the mean summons terms was $78 US ($107.77 Cdn).

For example, a level summons successful Toronto to Beyoncé's Formation circuit successful 2016 was being resold for $330 connected the secondary market. In 2023, that aforesaid summons for her Renaissance circuit was being resold for $1,000. 

And experts accidental that has immoderate radical making the aforesaid determination Rendon did so they're not near with bare wallets if they miss the amusement due to the fact that of sickness oregon question delays.

Advantages of insurance

Shiraz Mawani of Toronto, who buys and resells tickets successful his escaped time, says that if you're travelling to an event, getting the security could beryllium worthy it. 

"Especially flying successful that time oregon getting successful that day, things tin happen. And truthful summons insurance, it does person a purpose. But I consciousness similar it doesn't use needfully to everybody," said Mawani.

There are different options for those who can't marque it to an lawsuit speech from insurance, helium says.  They could springiness the summons to a person oregon effort to merchantability the summons connected the secondary market. 

Those who remember the Taylor Swift Era's Tour mightiness deliberation of reselling arsenic a lucrative option, but that's not ever the case. While Mawani has been capable to bargain and merchantability galore tickets, helium says it's not ever a definite thing. And not everyone is comfy with trying to merchantability a summons connected their own.

"It tin consciousness overwhelming," said Mawani. "I deliberation that's what the biggest hurdle is for a batch of people. They conscionable don't cognize wherever to start."

Capitalizing connected fear

Finance prof Martin Boyer says it's not astonishing radical are looking for a small information erstwhile they've paid large bucks for a summons oregon two. 

And companies privation to instrumentality vantage of that uncertainty. 

"There's a fearfulness there, that you volition person mislaid $3,500, and tin you truly forgo the outgo of a performance to which you did not attend?" said Boyer, who teaches astatine concern school HEC Montreal.

"You're fundamentally stuck with a $3,500 nonaccomplishment and nary concert." 

Boyer says the different happening companies instrumentality vantage of is people's inability to cipher the probability of a catastrophe that would forestall them from going to the event. 

"Individuals successful wide overestimate precise uncommon events," said Boyer. "Catastrophes are precisely what they are: catastrophes. These are one-off. These bash not hap often."

A spokesperson for Allianz Global Assistance Canada, an security institution that works with Ticketmaster, said its summons sum is "quite popular," but wouldn't supply an nonstop percent of however galore customers opt into the product.

"We besides spot higher opt-in rates erstwhile the lawsuit is peculiarly popular, features a large performer, oregon is simply a uncommon oregon one-time occurrence," said Tayjua Squire successful an email.

"These elements summation the perceived worth of the summons — and therefore, the tendency to support it. Additionally, with ongoing uncertainty successful the question and lawsuit landscape, galore consumers are much inclined to support their plans and purchases present than ever before."

Jumping done hoops

Boyer says getting sum for your summons isn't arsenic chopped and adust arsenic radical mightiness think. You can't conscionable bargain a Beyonce ticket, past determine you don't privation to spell oregon aren't feeling it, past get your wealth back. 

While it differs from institution to company, determination are hoops, and you person to leap done them. 

"You request to get a doctor's enactment saying you truly could not go. It needs to beryllium a large illness. If you interruption your leg, if you person a concussion, oregon for immoderate aesculapian crushed you cannot fly, you cannot drive, you tin not travel, past that is covered," said Boyer. 

Eve Egan of Las Vegas recovered that retired the hard way. She got tickets for her favourite punk band, Rancid, and adjacent sprung for a VIP booth. Her day was coming up, truthful she wanted to dainty herself. 

Since she spent astir $400 US, she got the security done Allianz. In the end, she didn't go. Egan couldn't find radical to spell with her, truthful she decided she would similar to get her wealth back.

But erstwhile she asked, claiming that she was sick and couldn't go, Allianz refused, since she couldn't supply immoderate proof. Egan fought it implicit the people of a month, and it wasn't easy, but she was capable to yet get her wealth back. 

She says she's learned her lesson.

"I don't bargain costly tickets anymore, but if I was going to I would conscionable marque damn definite that I would beryllium capable to go," said Egan. 

Boyer says that's due to the fact that summons sum is similar immoderate different benignant of insurance. 

"Think astir it similar worker's compensation. You cannot conscionable say, my backmost hurts, truthful I cannot work. You really request to spell done the process of seeing a doctor, a physician, idiosyncratic with a nonrecreational degree," said Boyer.

No Kendrick, nary problem

For Rendon, the summons security ended up coming successful handy. Before the show, she wounded her ankle and needed surgery. 

She tried to merchantability her Kendrick tickets, but with nary success. And aft looking astatine immoderate treatment connected forums online, she was acrophobic she mightiness not beryllium capable to get her wealth back. 

But, with the assistance of a enactment from her doctor, it worked out. 

"I deliberation I got an reply wrong 48 hours. And I got my wealth backmost via nonstop deposit," said Rendon.