When you hear the word ‘insurance’ what comes to mind? Car insurance? Home and contents cover? Life insurance? All very sensible policies to take out, but a rather boring subject.
Well insurance doesn’t always have to be sensible, and it’s definitely not always boring. On top of the standard insurance policies that everyone takes out there are plenty more, slightly more bizarre policies available.
Here are a few insurance policies available that you may, or may not have heard of:
Body Part Coverage.
If you rely on a specific part of your body to earn a living, it’s insurable – and doing so is much more popular than you may think. We’ve all heard the rumors about celebrities insuring their legs, smiles, bums and boobs, but the list doesn’t stop there.
Merv Hughes, a famous Australian cricket player, allegedly insured his mo for over AUD300,000.
Rumor has it in 1957, food critic Egon Ronay insured his taste buds for USD400,000.
And in the 1980’s Bruce Springsteen apparently took out a USD6 million policy on his voice.
Financial edge http://financialedge.investopedia.com/financial-edge/0210/5-Bizarre-Insurance-Policies.aspx#axzz1gJWJvib9
Hole-In-One Coverage.
Golf competitions often offer huge prizes for a golfer to hit a hole in one, so what would happen there was more than one hole-in-one in a single day? Lloyd’s has a surprisingly popular deal for this, and sells policies to competitions holders for up to USD50,000
Goodfellow Rebecca Ingram Pearson Insurers
We thought that this company deserved a point all to itself. Goodfellow Rebecca Ingram Pearson is a company that specialises in policies such as alien abduction and immaculate conception, so if you are continually looking over your shoulder worried about Martin the Martian why not get piece of mind and take out a policy just in case. The company has around 4,000 alien abduction clients worldwide, and several hundred virgins have taken out policies for immaculate conception. While the company said they haven’t yet seen a legitimate claim for an abduction, they couldn’t say the same for immaculate conception.
http://www.independent.co.uk/news/cult-insured-against-aliens-1276075.html?CMP=ILC-refresh
‘Taco Bell’ policy
In 2001 Taco Bell held a promotion where if a part of a falling space station hit a designated target they would give everyone in America (almost 313 million people) a free taco. They took out an insurance policy to cover the cost if it actually worked.
http://www.spaceref.com/news/viewpr.html?pid=4152
Twins Insurance
If you are expecting and you don’t think you can handle twins, twin insurance is for you. While they wont go as far as taking one of them back, ‘twin insurance’ will cover the addition costs that having two kids instead of one incurrs.
While these are just a few examples, the list of crazy policies goes on. The chances are if you can think of a risk you can take out insurance for it, so insurance isn’t always sensible, and it’s definitely not (always) boring.
