How does it work?
Hedging is a longstanding practice for ticket brokers. But until TixSurance, a hedging strategy usually required a broker to place bets at a sportsbook. The downside of this approach is that sports betting is gambling – not a legitimate business expense; so it isn’t tax deductible. By contrast, when you buy an insurance policy through TixSurance, your premiums are tax-deductible as an “ordinary and necessary” business expense.**
How do I decide how much coverage to apply for?
The dollar amount of coverage you buy should be customized to your projected profits for the event you want to cover. We can help you calculate the amount of coverage to apply for, once you provide us with the cost of the ticket inventory and your projected sales revenue on that inventory.
How do I pay my premium?
Premium payments can be made by wire or credit card. (A 2.6% service charge will be added to credit card purchases.)
How quickly is my claim paid when coverage is triggered?
Claims are typically paid within 5-10 days after the claim submission is completed and proof of loss is verified.
Is my contract premium tax deductible?
In most cases, the premiums on the insurance products we sell are tax-deductible as “ordinary and necessary” business expenses.**
What does it cost to purchase insurance coverage from TixSurance?
Every contract is uniquely priced based upon several variables, including the type of event, who are the participants in the event (teams, artists, etc.), how much coverage is needed, etc.
How do I bind my quote? (How do I lock in coverage?)
In order to lock in coverage, you simply sign and return the insurance contract to TixSurance and pay the premium.
** TixSurance does not provide tax, legal or accounting advice. Information provided on this website is for informational purposes only, and should not be relied on. Consult with your own tax, legal or accounting advisors.