Insurance is a great tool because it provides protection from some of the many risks that people face everyday. However, if you spend enough time reading about insurance online you are bound to come across a few strange policies.
This section is more for your entertainment than anything. You will most likely never need to purchase any of the policies listed here, but you will be full of fun, cool insurance facts for the next time you are trying to impress someone.
#1: Alien Abduction Insurance
You read that correctly. There is a policy that you can buy that will protect you in the event you are abducted by aliens and returned to Earth. It’s estimated that around 30,000 people worldwide have purchased this coverage. Of course, the burden of proof lies with you so if you are abducted be sure to take pictures and any video to prove your claim to the insurance company and to your friends and family.
#2: Cover Your Body
If the goal of insurance is to protect us from loss it makes sense that if you earn a living by using your body that you would want to have a policy in case you get injured. Still, it’s odd to hear about some of the below policies.
If you are ever asked how much is Gene Simmon’s tongue worth, you will now be able to give an answer. The rock star had his tongue insured for an astonishing $1 Million!
How much is your middle finger worth? If you are like most people it has some value, but what about $1.6 Million? That’s what The Rolling Stone’s Keith Richards decided his middle finger was worth.
If you are a singer losing your voice is bad for business. So Bruce Springsteen decided a $6 Million insurance policy for his vocal chords was a good idea. Seem like a lot of money? Rod Stewart decided his voice was worth $15.5 Million when he took out a policy.
Real Madrid understands the benefits of an insurance policy and the risks involved in football (American soccer). So they decided a $144 Million policy on the legs of Cristiano Ronaldo would be a good thing to have in the event he suffers any leg injuries.
Up until now we have seen some expensive policies, but Mariah Carey wins the honor of being the holder of the largest insurance policy on a body part we could find. Her legs are insured for a mind-blowing $1 Billion.
#3: I Do…Want Insurance
This is the one exception on this page and is a policy you may very well need someday. People tend to go all out for their wedding with the average cost in 2015 being $32,641. With such a large amount of money being spent for one day, having an insurance policy makes some sense. Policies will cover cancellations due to illness, weather or vendor issues. If you are nervous that your significant other might get cold feet you can also insure against this risk (though hopefully that isn’t your primary reason for buying a policy). If you or someone you know is interested, check out Wedsure or the Wedding Protector Plan from Travelers.
Have you ever seen a contest that pays out a large sum of money or gives away a car for a seemingly difficult challenge? Maybe you’ve seen a golf tournament give away a car for a hole-in-one or a $10,000 prize if you can make a basket from half court. The company sponsoring the promotion knows that the odds of someone winning are very low, but could happen. They are able to purchase an insurance policy in the event that someone does win so the insurance policy covers the prize.