6 Weird Insurance Policies

If you thought the insurance industry was boring, check out some of the weirdest insurance policies we’ve ever come across

When you think insurance policies, does your mind automatically float to health, life, home or auto insurance? These aren’t the only options available – if you can imagine a risk, there’s a possibility that you can then insure it. We’ve heard of some different types of policies, but have you heard of these six strange and possibly weirdest insurance policies before?

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Wedding Insurance

With the high cost of weddings, many engaged couples look into purchasing wedding insurance to cover them in case of emergencies before or on their big day. These policies usually cover reimbursement if a venue cancels due to bankruptcy or helps engaged couples claim payment for damages to items such as cake or flowers.

Worried about having a runaway bride? Some wedding insurance policies offer riders that allow a bride or groom to cancel the wedding for any reason – such as indecision at the alter. Out of all the weird insurance policies, this one might be the most practical. Claims are paid for costs incurred or even psychological services for those left behind, among other things.

Insuring Body Parts

Insuring body parts happens quite often in the sports and entertainment industry. Celebrities often take out policies on their own body parts, while companies and sports teams can insure their interests as well. Take Australian cricket player Merv Hughes as an example. He insured his mustache for approximately $370,000. Heidi Klum’s legs are valued at 2.2 million dollars, while Mariah Carey has an insurance policy on her legs for one billion dollars. The list could go on and includes everything from sommeliers to soccer players.

Alien Abduction Insurance

Do you believe in outer space beings? Are you worried about being abducted to outer space? Good news, there are insurance policies you can purchase now, which will cover you in the event of these experiences. Be prepared, the burden of proof will be on you to prove an alien abduction has taken place. Good news – if you’ve been abducted more than once, some policies have higher payouts for multiple claims.

Ransom Insurance

Companies who do business in high-risk areas may consider taking out kidnapping and ransom insurance on themselves, their business partners, and the family members of said executives. If someone were to be kidnapped, most insurance companies offer professional negotiation services to facilitate a safe homecoming. Ransom costs are paid for by the insured company, but are reimbursable as “losses” once paid under the policy.

Travel Insurance

Travel insurance might be considered a common thing as one can add it to most vacation packages, but there are some specific coverages you may not be aware of. Have you heard of Thailand’s Riot Insurance? Out of all these weird insurance policies, this one may be the strangest. For two years, Thailand offered free insurance to all tourists in the amount of $10,000 for any loss or damage incurred because of the political issues at the time. In addition, if a tourist experienced any delays to travel because of rioting, they would be able to claim $100 a day during the wait.

Contest or Promotion Insurance

Ever see a contest or promotion that seems too good to be true? It’s likely that it was supported by an insurance policy. One example is Jordan’s Furniture, a furniture retailer who offered to refund customers the price paid on home purchases (sofa, dining table, bed, and mattress) if the Red Sox were to win the World Series in 2007. Purchases needed to be made between March 7 and April 16 (before the season began). Approximately 30,000 customers participated in this promotion and were refunded their purchase price. Jordan’s Furniture offered similar Red-Sox-related promotions every year since, but luckily for them, haven’t needed to pay out.

While you’re busy quoting customers on available insurance companies, let us help you manage your incoming leads.

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Let our automated software simplify your sales process.  Sign up for a 30-day FREE trial of our lead management software and turn more leads into customers with less work!

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What weird insurance policy is your favorite? What would you insure if you could? Let us know in the comments!