Top 7 Bizarre Insurance Policies ever sold
You know very well how important insurance is as part of a sensible financial plan. It makes sense to insure your home, your car, and carry health insurance. But over the years, insurance companies have developed some weird a.k.a bizarre policies to protect customers against all kinds of trouble, ranging from natural disasters to identity theft, and getting thunked by a foul ball at a baseball game.
Here are 7 of the most bizzare a.k.a wierd insurance policies we’ve come across:
1. Change of heart, a.k.a. cold feet insurance
If you don’t even get to exchange your nuptials, i.e. the bride or groom decides that “for better or for worse” is being better off without each other, you can get insurance coverage for the sudden change of plans. Often called change of heart or cold feet coverage, this policy covers the costs of the wedding (the average cost is estimated at $26,645), since guests, caterers, venue rentals, wedding dress and florist costs can run high. Take note that it doesn’t cover getting stood up at the altar at the last minute; you’ll need to cancel the wedding a full year in advance, and only the bride or groom’s parents get financially reimbursed, not the newly minted exes.
2. Alien abduction insurance
Probable the most bizarre policy you will ever came across. In the event you’re paranoid about having a close encounter with the third kind, you may be able to land an insurance policy safeguarding you against a UFO or alien abduction. It seems to be pretty popular in Europe, where one U.K.-based insurer has sold more than 30,000 such policies across the continent. Premiums can be high – up to $150 per month for $1.5 million in total coverage, according to sources.
You should note that most of these policies may just be elaborate jokes – one man in Florida sells a parody policy for a flat payment of just $9.95, for example. Regardless of whether or not the policy is satire, you’ll need to show proof that the flying saucer – and the little green men who poked and prodded you – were, in fact, real in order to collect your damages.
3. Multiple birth insurance
Soon-to-be-parents can’t really be surprised with quadruplets anymore, since ultrasounds and advanced medical technologies can prepare you well in advance. That doesn’t make mothers and fathers any more prepared financially for a (literal) bundle of joy delivered from Mr. Stork.
So, you may consider buying a multiple – or twin – birth insurance policy, which requires you to buy your premium at the time of pregnancy; if twins or more are the result, the policy pays out in cash accordingly to compensate for the extra costs that extra babies bring. (There’s also an infertility insurance to compensate for out-of-pocket expenses associated with in-vitro fertilization and other medical procedures.)
4. Ghost insurance
Seriously GHOST. It’s possible to insure yourself against haunting and even ghostly happenings. One English hotel owner took out insurance after being convinced he saw a ghost at his bar. The policy would pay out a whopping £1million if a customer were unlucky enough to be killed or disabled by the spooky spectre. Bizarre Policy isn’t it.
5. Immaculate conception insurance
In 2006, three sisters in Scotland had insurance to cover the costs if they were to give birth to the second incarnation of Jesus Christ. In 1999, Lloyds also insured a woman named Mary Murphy against a virgin birth triggered by the arrival of the Millennium.
6. Werewolf or vampire attack insurance
Panic not. You can cover yourself against attacks from hairy wolves and bloodsucking beings. Once again Lloyds of London steps into the breach, offering policies for all such eventualities, even a zombie apocalypse.
7. Insurance Against Death by Laughter
Lloyd’s of London is known for covering a wide range of things, but the funniest might be the effort to insure a comedy troupe in the event that an audience member died from laughter. According to the BBC, this comedy troupe was so confident in its humor that it asked Lloyd’s for insurance just in case the group was fatally funny.
No matter what you’re afraid is going to happen to you in life, there’s an insurance policy that will cover you. Whether it’s something common, like the fear of losing the ability to work or the fear of dying young, or something a little more out there (cough, aliens, cough, or even more bizarre), insurance has you covered.
So, the lesson here is, if you’re worried about something, instead of losing your cool, keep calm and buy an insurance policy against it.