Insurance is the one thing we all pay for and hope never to have to use. We have insurance on our house, insurance on our cars, life insurance, the usual. But some of us find that we need very unusual insurance. And for anything people feel a need to insure, or insure against, there are companies out there willing to sell a policy to suit the needs of anyone. Here are some policies that you might want to consider for yourself.
After all, weddings are expensive. Thousands of dollars spent on one day, one very special day, a day that everyone wants to be perfect. But what happens if the big day doesn’t happen? What if the weather is so foul the ceremony can’t go forward? What if the groom gets cold feet and leaves his intended at the altar? That’s where wedding insurance comes in.
According to the Insurance Information Institute, wedding insurance only costs between two and four hundred dollars on average, and depending on the policy you buy it will cover against things like foul weather, vendors not showing up, even damage to the wedding dress or groom’s tux.
This type of insurance has become so popular that even well known companies like Travelers Insurance offer it. There may be a deductible to be met before the insurance will pay out, but if you’re paying out twenty thousand, thirty thousand, or more to put the event together, it might be worth it to be insured against wedding photographers that don’t know enough to take the camera lens off.
Fantasy Sport League Insurance
A company called fantasy Sports Insurance will insure team players on your fantasy sports team against the possibility of them being injured in real life. Everyone who has ever been involved in a fantasy football or fantasy baseball league knows what happens when your star quarterback suddenly pulls a leg muscle, or your ace pitcher tears a rotator cuff. Should this happen to you, fantasy sports league insurance will refund your fantasy league entrance fee.
Keeping with the sports theme, those tournaments that pay big money or give large prizes to golfers who can make a hole-in-one can purchase insurance against having to pay out. The probability of a hole-in-one is low, even for seasoned golfers, but that doesn’t mean it won’t happen. The National Hole-In-One Association sells insurance to charity tournaments and other groups to cover prize money if a golfer gets so lucky as to make that tiny ball sink into that tiny hole in one shot.
Prize Payout Insurance
Game shows can purchase insurance against someone winning the big money. Let’s face it, a million dollars is a lot of money to pay someone for knowing what the capital of Bora Bora is. For the producers of these game shows, paying a monthly insurance bill is well worth it.
Kidnap and Ransom Insurance
Wealthy families and big corporations insure against having to pay ransoms in the event of a kidnapping. This is actually common for companies who do business in areas of the world where kidnapping is seen as a source of income, such as the Middle East.
Key Person Insurance
Big corporations often insure their Chief Executive Officer or other key employees against disability, or against that person unexpectedly clearing out their desk, leaving the company, and taking their expertise with them. Apple Corporation insured Steve Jobs. Microsoft insured Bill Gates. In fact Steve Jobs just announced this year that he’s leaving Apple. No word yet on whether that equals a big payout to Apple from their insurance company.
In case you happen to be worried about who you’ve slept with and how much protection you were using at the time, you can purchase this insurance that will pay out if there is a paternity suit brought against you. It may also help pay child support, depending on your policy’s terms.
Yes, reincarnation insurance. Just in case when you come back in your next life, it’s as someone with a severe disability, or someone born into poverty. Or Lindsay Lohan.
Alien Abduction Insurance
The UFO Abduction and Casualty Insurance Company, as well as other companies, sell policies to thousands of people. Including some that you wouldn’t expect, like noted TV talk show host Larry King. In case of abduction, once returning to Earth you make a claim. These policies don’t typically cost much, but let’s face it, what are the chances they’ll have to pay out? And yes, there are policies that include probing.
From the weird, to the ridiculous, and then somewhere in between you have celebrities who insure their body parts. For a lot of celebrities, their ability to earn money depends on their bodies, or parts thereof, being in top physical condition. And there are companies that insure whatever part needs insuring. World Cup soccer star David Beckham had his legs insured. So did supermodel Heidi Klum and singer Tina Turner. Singer Jimmy Durante insured his signature nose back in the 1940s. Many singers buy insurance polices for their voices. Keith Richards of the Rolling Stones had his hands insured. And actors such as Robert Downy, Jr., have had studios take insurance policies out against losses due to actors’ drug use.
But the real question is, can we buy insurance that will refund our money when we pay to watch a really bad movie at the theater? If so, I’m getting a policy that includes the cost of a large tub of popcorn.