Specialist Insurance Cover: Insuring Against The Unusual
Just because there is no standard insurance policy for an item doesn’t mean that it is not insurable. Some celebrities have taken the concept of life insurance to the next level by insuring against risks to their particular body parts that help them to make money. Other people taking out policies against risks that are not so obvious to the casual observer. Today, we bring you some really unusual risks people insure against.
How Much Is Your Smile Worth?
A number of celebrities have been involved in bizarre insurance deals over the years. Aquafresh chose “Ugly Betty” star America Ferrera as the face of its 2006 ‘Smiles for Success’ campaign. Of course, the campaign would be a complete failure if something bad were to happen to Ferrera’s legendary smile. That is why they forked out a whopping $10 million to get a policy to protect her smile. And Lloyd’s of London was happy to write the policy for her.
Finding the Loch Ness Monster
For centuries, finding the Loch Ness Monster has been a preoccupation for many in Scotland. There have been over 1,000 reported sightings in modern times alone. To bolster its PR efforts, the Scottish whiskey company Cutty Stark offered a £1 million reward to anyone who would catch the monster alive. Because of the historical difficulty of achieving such a task, you would think that the company would be pretty confident that no one would find the monster. But the company took out an insurance policy to cover the costs, just in case. And Lloyd’s of London rose to the occasion, on condition that it would take the monster for keeps.
Alien Abduction Insurance Policies
Many people are so concerned about alien abductions that the alien abduction insurance industry is worth over $10 million annually in the U.S. alone. One company in Florida claims that it has sold over 100,000 alien abduction insurance policies. Of course, people who are frequently abducted are charged a premium to get such a policy. Be careful before you take out such a policy because you will need to prove the abduction before getting your payout.
Many prospective parents their lives turned upside down when they suddenly discover that they are expecting twins. That is the problem UK insurance company Eagle Star set out to solve. The company made a policy which would pay up to £3,000 to anyone who unexpectedly became a parent to twins.
Don’t let the limitations of standard insurance policies faze you. If an item has value, chances are that it can be insured. You can insure against the loss of your smile, abduction by aliens, giving birth to twins, and many more unusual risks.