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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 Story

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