Even in the world of crowdfunding, money isn’t everything, and successfully funded projects have gone up in flames in the past. If you don’t want to get burned, you might be interested in Indiegogo’s new initiative to offer insurance to backers for campaigns that go bust.
TechCrunch reports that the international crowdfunding platform has begun testing insurance on Olive Labs’stress band campaign: backers can tack on an additional amount to their pledge, that will ensure that they’ll get a refund if the promised product isn’t delivered within three months of the stated delivery date.
The trial running on Olive Labs’ campaign lists insurance as available for $15 more than the product’s pledge price of $129.
Indiegogo hasn’t yet confirmed if or when it will roll out insurance perks to other projects, but we’ll keep an eye on the platform to see if things change.