5 Strange but Real Types of Insurance Policies
Most insurance providers give you several options when it comes to your auto and life insurance policies. You can choose basic coverage plans and then take your pick of add-on services that will give you the comprehensive insurance coverage you need - and also some peace of mind. Still, there are a few insurance policies you may never have heard of. These plans offer insurance coverage for some very obscure, but still very valid reasons.
Here are five strange but real types of insurance policies you may not even know about:
Kidnap Ransom Extortion Insurance
If you work at a high-profile company and your employer has deemed you to be a very valuable part of the business, you may already be covered by some type of kidnapping or ransom insurance. These insurance plans are designed specifically for corporations and individuals who want to manage the costs associated with a kidnapping or ransom situation. Claims would cover the costs associated with a crisis situation and may even provide funds for the ransom required by the kidnapper.
Wedding Insurance
Planning a big wedding? Many weddings cost well into the five-figure range and the couple-to-be may benefit from some type of wedding insurance package. Wedding insurance can protect some of the nonrefundable expenses associated with the Big Day, including cancellations from an accident or severe weather, bankruptcy of the wedding event planner or other unforeseen circumstances. Some companies also offer wedding liability insurance options.
Alien Abduction Insurance
Designed for people who are worried they may be abducted by aliens and UFOs, this insurance policy is available from several private insurance providers and most are open to most people and protects one's assets in the event of abduction. Some companies also offer coverage for an alien pregnancy and death caused by aliens.
Body Parts Insurance
Models and celebrities famous for a certain body part are usually eligible for body parts insurance. Their agents or entertainment company typically purchases this type of insurance to ensure the star can recover from any injuries or damage to their most-coveted body parts in the event of a serious accident. For example, actress America Ferrera had her smile insured for $10 million.
Golfers' Insurance
If you're a competitive golfer or a diehard golfing enthusiast, you might consider a specialized golfers' insurance policy that includes coverage in the event of an accident on the golf course, accidental breakage of clubs and even club subscription fees if you're unable to play because of an injury or accident. Some insurance providers also offer "hole-in-one" coverage with a reimbursement for hospitality costs within 30 days of scoring your hole-in-one.
Sources:
Forbes.com - The Near Impossibility of Kidnap or Ransom Insurance
UFO2011.com - Alien Abduction Insurance
Published by Sabah Karimi - Featured Contributor in Beauty, Travel and Lifestyle
Sabah Karimi is a Featured Contributor in Beauty, Travel, and Lifestyle. She writes beauty, style, luxury travel, fitness, wellness, food and wine, and personal finance content for several Y! channels. She i... View profile
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