Indiegogo Testing Insurance Feature For Backers

Here's a sad little fact you probably know all too well: that crowd-funded thing you like may not actually come to life. Ever. There's a good chance excitement got the better of you, and you laid down a few bucks based on drawings and a really earnest team behind the project. You like the idea, and want in on the device/whatever from the jump, but you're taking a risk. A new scheme from Indiegogo offers insurance for your investment, but also holds the team responsible — well, responsible.

Indiegogo is, when compared to Kickstarter, a bit looser about who gets to start a campaign. That lends itself to people who use it to get hold of a bunch of cash before they disappear.

The optional insurance is being tested on one campaign right now, a (fully funded) stress-management wearable named Olive. The bottom-tier backing option is $129, and Indiegogo is offering up an optional $15 insurance premium for that spend.

If Olive doesn't deliver within three months of their estimated delivery date, you can call in your insurance and get your cash back. The insurance is noted as being provided by Indiegogo, though it's not clear if they're at all underwritten.

For more reasons than not, Indiegogo is a good platform for some, and there have been some wonderful projects backed there. Still, there are many projects that seem to good to be true, and despite your hail-mary funding, may never actually be a thing.

In those times, insurance would be really handy. Indiegogo isn't yet ready to comment on their insurance feature, only saying it's in testing. We hope they make it a reality, unlike some of the projects that need this type of check-and-balance.

Via: TechCrunch