Time chips away at the value of all things dear to us.
It’s only natural that we want to at least mitigate the financial blow of it. This desire has produced a slew of insuring agreements that are as varied as it gets. Houses, cars, lives, incomes, and businesses are just the tip of the iceberg.
There are many other odd and unexpected things one can insure. They cover risks that may seem meager or nonexistent to most people.
Yet, outlandish insurance policies find their customers, who want every possible base covered. And we don’t judge them. Read on to discover some of the most head-scratching insurance deals.
Celebrity Body Parts
These examples made quite a splash, but they’re worth revisiting.
We’re talking about a trend of celebrities insuring their body parts. They usually seek death and dismemberment policies that cover damage ensuing in the wake of the accident or tragic events.
Taylor Swift’s legs are the most prized body part, insured for $26.5 million. This insurance policy eclipsed Kim Kardashian’s rear, which is valued at $21 million. Some even more bizarre examples involve Miley Cyrus’s tongue and David Lee Roth’s sperm.
The more you think about it, the less outrageous it becomes. Public figures do depend on their body to rake in money. Ok, sperm is probably a stretch, but fine.
Kidnap and ransom insurance has been around since the 1930s.
You may consider that weird, but then what about alien abduction insurance? No, it’s not a bizarre plot vehicle from an obscure 80s Sci-Fi movie.
One London-based firm sold more than 30,000 such policies across Europe. And this isn’t the only case of a company carving out this niche. Florida’s UFO Abduction Insurance offers $10 million certificates to those worried about visitors from above.
To take this insurance, you need to know something others don’t or simply have a surplus of paranoia. Who knows, maybe green paper works against green visitors?
For most people, Werewolfs, Ghosts, and Vampires are figments of human imagination.
But, Terry Meggs isn’t most people. After reportedly seeing a ghost, he took insurance policy covering supernatural claims. He insured the staff of allegedly-haunted The Royal Falcon Hotel against abnormal phenomena.
The annual premium is £500 (around $616) and the policy pays out £1 million for death and injury incidents. If you think Terry Meggs will never get his money, think twice.
The Hotel building is 500-years-old and sits next to an abandoned graveyard. So, we don’t want to rule anything out, do you?
Wedding policies are getting more and more popular.
You can choose to cover wedding cancellations that arise due to unforeseen circumstances. These can be related to bad weather, illness, and accidents than incur extra costs. Nobody wants to waste money on a wedding that doesn’t take place.
Some policies even cover specific items, such as wedding cakes, gowns, and rental cars.
But, one particular example we want to bring up is change-of-heart protection. As the name suggests, it accounts for the possibility of spouses bailing out at the last moment. Money can sometimes alleviate heartbreak, at least a tiny bit.
People around the world are keen on insuring their prized possessions.
The only problem is homeowners insurance often doesn’t cover them. What you need is collectibles insurance tailored to preserving the long-term financial value of cherished items.
For instance, Fireman’s Fund can protect $50,000 worth of fine wines from various disasters.
Even more outstanding is the case of insuring a Cuban cigar, which is no ordinary cigar. It is 12 feet long, which makes it the world’s longest cigar. Believe it or not, around 15,000 tobacco leaves gave their lives for it.
You don’t smoke than in one go or let anything interfere with your enjoyment.
Identity Theft Insuring Agreements
Our parents might have trouble wrapping their minds around this one.
Namely, in the cyber age that we live in, one’s identity is always in jeopardy. Stolen personal information can be used in different ways. Most cybercriminals seek to exploit it for gaining access to bank accounts.
Taking into account what’s at stake, it’s no wonder the insurance world took notice.
Many homeowner policies include identity theft as an integral part of the plan. Other insurance companies offer it as an add-on rider or a stand-alone option.
In all these cases, the purpose of the policy is to reimburse you for any financial damage that happens.
Yoga Teacher Is to Blame
Death and injury are the bread and butter of insurance policies.
But, did you know you can insure yourself against very specific kinds of accidents? One of our favorite examples is Yoga teacher mishap.
This is a type of (professional or general) liability insurance that addresses injuries you suffer during a yoga class. You would be surprised by how many people are afraid of this and want their medical bill covered. Also, it’s possible to find coverage of incidents of sexual abuse and product liability.
Instructors aren’t without options either. They can safeguard against professional liability, as well as property damage.
Meteorites and Space Debris
The odds of something from space injuring or killing you are razor-slim.
Nevertheless, it can happen and we know of at least one incident like that. It’s the case of an unfortunate Ann Hodges, who was struck by a space rock while napping in her couch.
It’s certainly not as far-fetched scenario as alien abduction.
Therefore, it’s not uncommon to find insurance policies covering falling objects. This category is broad and involves everything from meteorites to satellite pieces. You can insure yourself, but also your home and vehicles.
In instances of death by overhead threats, the policies, of course, pay your beneficiaries.
Not Even the Sky Is the Limit
Insuring agreements come in all shades of crazy and offbeat.
The sector has evolved over the years and branched out into many directions. Everything you can think of is probably fair game. The examples we showcased are just one fraction of what people insure.
So, whether you have a fear of the supernatural, outwardly forces, or real-world threats, there’s a way to gain financial satisfaction. Perhaps your mind is already going somewhere new and your money might follow.
On a more serious note, you can read our financial guides and obtain many handy tips. Knowledge is power.