Sports fans learn to assume certain risks when purchasing advance tickets for sporting events. Uncontrollable events often make it impossible for ticket holders to attend specific events, often leading to the forfeiture of high-priced tickets. Also, fans have always been at the mercy of event planners who reschedule events that are canceled due to weather conditions, keeping their fingers crossed that they would be able to attend the event on the rescheduled date.
A new type of insurance product for NASCAR fans solves this problem. People who buy tickets for events at Dover International Speedway and International Speedway Corp racetracks will have the option to purchase insurance that would allow for a refund if the ticket holder is unable to attend the NASCAR race due to unforeseen circumstances such as a work obligation, illness or serious injury, traffic accidents, airline delay, jury duty or military duty.
The cost for the ticket insurance is 5% of the total purchase price of the tickets (including tax and shipping fees), with a $6.25 minimum.
Click here to read NASCAR's press release about this new insurance product.