15 insurance policies you may not be familiar about

Globally, people buy insurance to shield themselves against unforeseen mishaps and catastrophes that could bankrupt them. Homeowner’s insurance may be required by mortgage lenders, however, the majority of insurance contracts are optional. 

An estimated 95% of homeowners have home insurance, more than 91% of Americans have health insurance, and 59% of people have life insurance of some kind.

People insure their most important assets in addition to the most typical policies like health and life insurance, but those assets might not be what you think. 

According to reports, David Beckham insured his legs and feet for $195 million in 2006, one of the most expensive personal insurance policies ever taken out by a sports athlete. Later, Cristiano Ronaldo did the same, paying roughly $144 million to insure his legs.

A specialized insurance market is needed to ensure one’s legs. One insurance and reinsurance market recognized for its outlandish and unique policies is Lloyd’s of London, a well-known insurance provider. 

For decades, Lloyd’s has worked with sports, celebrities, and other trailblazers to insure monkeys, satellites in space, and even their customers’ smiles. The objective of the policy remains the same, notwithstanding its singularity: to guard against unwarranted or unforeseen financial catastrophes.

The analysts at Stacker searched the web for other unusual insurance policies and compiled a list of 15 insurance policies they found. The alphabetical list includes some of the most bizarre insurance policies available to customers worldwide.

While some of the policies on the list safeguard especially priceless assets, others are based on science fiction. Check out these 15 insurance policies, which cover everything from strange bodily parts to couples’ broken hearts (and money).

15 insurance policies you may not be familiar about

Insurance for alien trapping

You can purchase an insurance policy against alien abduction if you or a loved one are worried about being kidnapped by extraterrestrials. Defectors must establish a non-human life form that kidnaps them in order to recover damages.

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Asteroid insurance

Homeowners can purchase property insurance to protect their assets from harm by falling asteroids, meteors, or satellites while the sky is physically falling. The good news is that most life and home insurance policies already include coverage for things falling from the sky, so families don’t need to purchase a separate policy should an asteroid turn toward their house.

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Insurance for body parts

Several athletes and celebrities have millions of dollars in insurance on their lucrative body parts. Holly Madison insured her breasts for $1 million, Heidi Klum insured her legs for $2 million, and Bruce Springsteen reportedly paid £3.5 million to safeguard his voice.


Modification of heart insurance

The Knot reports that Americans spent over $35,000 on weddings on average in 2016. Some couples have invested in “change of heart” insurance, a policy that reimburses sunk expenses of canceled weddings, to protect their investment. This particular insurance, along with other nuptial-related plans, is offered by businesses like Wedsure to guard against cancellations, postponements, or ruined images.


Contest and prize insurance

Contest insurance, also known as “hole-in-one insurance,” shields companies from having to cover the costs of the prizes they provide to contestants. Many golf tournaments give out expensive prizes to competitors who hit a hole-in-one, such as new cars or large cash sums. If a company pays the insurance premium, it won’t be responsible for paying the award if a rival makes a hole-in-one.


Laughter-induced death insurance

A confident comedy group was apparently insured by Lloyd’s of London. The organization purchased insurance to cover them in case their audience passed out from laughter. There hasn’t been any word yet on whether this policy has paid out.

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Facial hair insurance

Both mustaches and beards have been covered by Lloyd’s of London. Merv Hughes, an Australian cricket player, reportedly insured his mustache for $360,000 in 1992, the same year as a famous Santa Claus insured his white beard.

Facial hair
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Insurance for scary houses and Halloween

It is a requirement for owners of attractions with a Halloween theme to have insurance against damage or worse. This specialized insurance provides protection for visitors’ and staff’ accidents and injuries sustained while participating in activities such as haunted attractions, Halloween events, zombie runs, mud runs, corn mazes, pumpkin patches, zombie paintball, haunted hayrides, and escape games.


Intrepid journeys insurance

The adventurous voyages across the globe of pioneers have been covered by Lloyd’s of London. Several human activities have been covered by Lloyd’s policies, from an American girl swimming the English Channel to a gang of Brits trying to reach Antarctica in the dead of winter.

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Key person insurance

Sometimes a worker’s contribution to the firm is so crucial that if the worker passes away, the company also passes away. In these situations, organizations can get key-person insurance, a contract that pays out in the event that a key employee passes away.

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Insurance for kidnapping and ransom

For protection against kidnapping, extortion, hijackings, and other threats, certain insurance providers provide their clients with kidnapping and ransom insurance. Aviation, oil and gas, and NGOs are some sectors that may take into consideration including this coverage.

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Multiple birth insurance

If expecting parents have multiple children at once, multiple-birth insurance pays them. Before the first ultrasound or the eleventh week of pregnancy, the parents must purchase the policy.


Party guest insurance

Problems are frequently caused by rowdy partygoers. Event liability insurance can be purchased by hosts who want to safeguard themselves against mishaps brought on by rowdy visitors. Ho code noland. These coverage options include things like injuries sustained after a person leaves an event and damages brought on by intoxicated attendees.


Taste bud insurance

Sommeliers and taste testers have both begun to insure their taste buds. Hayleigh Curtis, a chocolate expert, insured her taste buds for £1 million with Lloyd’s of London, and a Costa Coffee coffee taster insured his tongue for £10 million.


Spaceship insurance

Businesses like SpaceX and Virgin Galactic ensure their fantastic space shuttles. Businesses are paying enormous premiums to protect their ideas against catastrophic destruction, which is understandable given that one in every twenty space flights may fail.


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