REPOST: Indiegogo is testing an insurance fee that could give backers peace of mind

Crowdfunding website Indiegogo has introduced a new insurance option for its project backers. For a $15 additional insurance fee, backers are guaranteed to receive the items they have supported or take their money back if the product doesn’t arrive within three months. Mashable has the full story below:

Image Source: mashable.com

Crowdfunding websites don’t always have the best reputation. There’s no real guarantee that backers will ever receive the items they’ve supported, and we’ve seen this time and time again with failed, fully-funded projects across various platforms.

It’s widely believed that Indiegogo is the less reliable rival to Kickstarter, but now, the site is testing out an insurance option on a specific project to give backers peace of mind when putting money into it.

Indiegogo confirmed to Mashable that a stress-management wearable called Olive is the first project on the site to offer product insurance. If you spend an additional $15 for insurance, a backer is guaranteed his or her money back if the product doesn’t arrive within three months of the estimated delivery date.

The optional insurance, which costs $15, was first spotted by TechCrunch.

“Indiegogo regularly develops and tests new features to meet the needs of both contributors and campaign owners,” a company spokesman said in a statement to Mashable. “This pilot test is currently limited to this individual campaign.”

The Olive device, which monitors heart rate, temperature and suggests stress management exercises, has already met its $100,000 backing goal, with nearly $180,000 of funding.

Image Source: mashable.com

Even though Indiegogo has a sometimes-questionable track record, critics have lashed out against it for continuing to host projects that appear to be fraudulent. Indiegogo has more relaxed rules that allow flexible funding, for example, so crowdfunding campaigns can keep money without meeting their goals.

Indiegogo declined to elaborate beyond its statement that it was testing insurance fees out on the single project, so it’s unclear if this will be expanded beyond Olive any time soon.

Freeway Insurance offers a wide range of insurance options that are suited to clients’ needs and budget. Visit its official website for more information.

Defensive driving and insurance

Those thinking of taking defensive driving classes can find more motivation in terms of insurance benefits. Drivers who have completed a defensive driving course can, depending on their location and insurance provider, be eligible for at least a 10 percent discount in car insurance.

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Defensive driving training helps motorists become more conscious regarding their safety on the road. Defensive drivers must try to recognize potentially hazardous situations before they happen and act accordingly. As the name suggests, they must take the time to analyze other drivers and remains on guard for any possible mistakes they may make.

Courses on defensive driving are available throughout the United States; the US Department of Safety often has a list of approved driving trainer courses. While some options must be completed on the road, others can be accomplished online.

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Depending on their state or insurance provider, defensive drivers can get insurance benefits, such as discounted rates. The eligibility of the defensive driver varies; in most states, younger student drivers receive the defensive driver discounts, whereas in Oregon, the discount goes to elderly drivers.

Understanding the value of road safety can provide motorists with more than just the benefit of being safe. Defensive drivers can save a bit of money on their insurance claims, particularly when combined with discounts for good driving behavior.

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For more information on low insurance rates, go to Freeway Insurance’s website.