In our daily lives, certain risks can always occur. This is why insurance exists.
Some Unexpected Insurance Policies That Actually Exist
In reality, there are two types of risks: foreseeable risks and unforeseen damages. What’s even more surprising is that there is insurance for virtually any type of risk.
1. Body Part Insurance
You may often see motorcycles or cars insured, and in Vietnam, personal accident insurance is quite common. But have you ever thought about body parts being insured for millions of dollars?
- $2.2 million for Heidi Klum’s legs
- $27 million for J. Lo’s backside
- $10 million for America Ferrera’s teeth
- $6 million for Rod Stewart’s voice
- $1 million for Gene Simmons’ tongue
- $393,000 for the taste buds of food critic Egon Ronay
It may sound ridiculous to spend huge sums on insuring body parts, but it makes perfect sense for celebrities.
Supermodel Heidi Klum. (Photo: Tonight Show)
For instance, if Keith Richards—a famous English guitarist—were to lose his middle finger in an accident, he would no longer be able to play guitar. Or what if food critic Egon Ronay could no longer taste anything? Losing a finger or even just their sense of taste could mean losing their lifelong career.
In fact, celebrities are not the only ones who can insure body parts; anyone can obtain a policy for the body parts of their choice. For example, a Dutch winemaker insured his nose for $7.8 million and paid around $23,000 for this policy annually.
2. Occupational Insurance
In certain jobs, a specific body part may be the only thing that supports a person’s career. Due to these unique circumstances, some individuals have purchased policies to safeguard their careers.
For example, the famous American comedy duo Abbott and Costello had a $250,000 occupational insurance policy that protected them from contract termination disputes for five years. Similarly, if soccer star David Beckham were to sustain an injury that ended his career, his insurance would pay him $151 million.
Once again, for those whose career paths are their only source of income, such an insurance policy is very significant. When salaries, endorsements, and public speaking commitments end, celebrities want to receive compensation.
3. “Falling Sputnik” Insurance
In 1957, the launch of the Russian satellite Sputnik caused a worldwide panic.
In reality, too many people feared that this disaster would affect them. As a result, Lloyd’s of London actually created a policy worth $22,000 (nearly $200,000 today) to cover damages from “falling Sputnik” accidents.
However, while this type of insurance exists, there has never been a recorded case of injury or death caused by a satellite.
Sputnik Satellite. (Photo: Space)
4. Wedding Insurance
Have you ever thought about insuring your wedding? It sounds strange, but this type of insurance actually exists. A wedding affected by a storm can be compensated if you purchase “Cold Feet” insurance. One company even offers “Change of Heart” insurance if the bride or groom backs out of the wedding.
However, this type of insurance is not for the bride or groom; it is only for third parties, such as the bride’s or groom’s family. Therefore, if a bride is absent from her wedding, her parents can claim back the money they spent on the dress, venue, and flowers for the ceremony.
5. Twin Insurance
“Buy one, get one free” is a great deal at grocery stores, but it can be a frightening prospect in reproduction. This is why there is insurance for those having twins or triplets.
Twin insurance will reimburse expecting mothers for the “surprise” costs, allowing them to buy expensive diapers for their babies. This type of insurance is not available in the U.S. but “twinurance” is quite popular in the United Kingdom.
Twin insurance will reimburse expecting mothers for surprise costs. (Illustrative image: The Indian Express).
6. “Bedbug” Insurance
In Florida, you may know that damage caused by floods is not covered by insurance, but did you know there is insurance to deal with bedbugs?
To eliminate and prevent the spread of bedbugs, homeowners typically spend around $1,000 to $2,000. However, if your house is too large or you own a condominium, these costs can be significant.
If you are a landlord, you definitely need bedbug insurance. If the rental rooms have too many bedbugs, the landlord not only suffers property damage but also incurs significant costs to eliminate them. Moreover, tenants can sue you for damages caused by bedbug bites.
