Indiegogo Testing Way To Refund Money If Crowdfunded Project Does Not Ship
Indiegogo is trying to answer crowdfunding’s biggest question: How do you get your money back if the product never materializes?
Called Perk Insurance, the optional coverage will allow backers to receive a full refund — minus the cost of the insurance — if the perk is not delivered within a specified period of time after the estimated delivery date.The coverage is expensive and currently only available on three projects. It costs between 10-20 percent of the pledge amount. On the Sondors Electric Bike, it costs $120 to insure the $600 perk level.Hopefully the next generation of crowdfunding sees more guarantees built-in from the start and not a pricey option.
See original story by Matt Burns here. Full Storyby