You’ve insured your home, your car, your business, and probably even your life. But are you really covered for those unexpected instances in life?
We’ve all seen the odd insurance claims, thanks to a couple of recent advertising campaigns by some large insurance companies. But those are all things covered under ordinary insurance policies, like homeowner’s insurance or automobile insurance. What are you do doing about the really unexpected events in your life?
Lloyds of London, which by the way is not actually an insurance company, has long been known for its willingness to offer unusual insurance policies, and insuring against some pretty unique risks, like life insurance for astronauts but there are a number of unusual insurance policies out there to help you prepare for the really unexpected “risks” in your life. Here are eight that caught our eye.
Hole-in-One Prize Insurance for Golf Tournaments
Golf tournaments are increasingly popular at conferences, conventions, and as charity fundraisers. And the Hole-in-One prizes can be a huge draw for any golfer skilled (or lucky) enough to make it in the cup in one shot. This insurance allows organizers to offer incredible prizes without risking everything they bring in for the tournament and more.
Lottery Insurance for Employers in Case Their Staff Wins the Lottery
We’ve seen this on the news. The employees of ABC Company created a lottery pool when the payout was into the nine figures—and then they won. Well, what happens to ABC Company when their millionaire employees suddenly retire en masse? Lottery Insurance can help an employer hire temps and cover production gaps while they seek for new staff.
Multiple Birth Coverage
The birth of a baby is generally cause for celebration and joy. But what happens when there’s not just one baby, but two—or more? And you weren’t expecting it? Well, to help parents-to-be expect the unexpected, there is multiple birth insurance for parents worried about twins, triplets or a litter of little ones. It must be purchased very early on before a multiple birth is confirmed, but it does help cover the additional expenses of bringing home more than one baby.
Runaway Bride Insurance
Weddings have become increasingly expensive over the last couple of decades. According to Business Insider, the average cost of a wedding in the US is $33,000. Standard wedding insurance covers things like weather-related postponements, vendors who no-show, and some liabilities.
But now, you can also get change-of-heart coverage. Some insurance companies are offering policies to help you recoup the costs should the bride or groom suddenly get cold feet and call off the wedding.
Bed Bug Insurance
Discomforting as the thought of a bed bug infestation is, it may make you even more uncomfortable to know that “maintenance issues,” as insect infestations are known, are not generally covered by homeowner’s or renter’s (or landlord) insurance policies. This is also true for hotels, where bed bugs can close them down or put them out of business. So now, we have Bed Bug Insurance that covers the cost of decontaminating and rehabbing the property, as well as lost business profits.
Body Part Insurance
Betty Grable’s legs, Jimmy Durante’s nose, America Ferrerra’s smile, and Dolly Parton’s, umm, cleavage have all been insured by Lloyd’s of London over the years. Many athletes, performers and celebrities have insured their income-producing parts.
Kidnap & Ransom
It’s not something that keeps us awake at night, but apparently it’s a worry for enough high-profile people that you can purchase kidnap & ransom insurance that will help cover the ransom should you be unfortunate enough to be snatched off the street. We have no statistics on how often this insurance actually gets used, but if you need the peace of mind, it’s available.
Zombie & Alien Abduction Insurance
And you thought these things only happened in the movies.
You won’t find either coverage offered by a major insurer, but if you’re worried foolish enough, you can find someone who will happily sell you a policy.
By the way, we’re pretty sure alien abductions still only happen in the movies, but just in case we’re wrong. . .
If you’re in need of an unusual insurance policy—or coverage less exotic, Roper Insurance can connect you with the right insurance carrier and help you find the right policy for your needs (though we don’t offer referrals for alien abduction insurance—you’ll have to Google that one on your own). Just send us a message through our Contact Us link at the top of this page.