Noooooo!!!
I had this, they didn't give me any other option
Having it inserted was the most painful thing I had ever experienced (up to that point), my Jesus, they open your cervix with some giant plastic jaws of life dildo thing....
It then made me going into false labor.. very painful and no gas and air allowed because it wasn't real labor and I had to have it taken out
I then had the pessary (I wish they'd given me this first!) Tampon shaped thing, wear it for 24 hours, then pull it out yourself, painless. For me, I then when straight into contractions followed by labor.. no need for drip or waters being broken but they do say you may need those interventions.
This is, of course, just one person's experience, but if I had a worst enemy, I would not let them get the balloon induction!!
Good luck with whatever you decide 