Insurance exists to protect you and the things you’ve worked hard for from future unknowns. Many people want the peace of mind knowing that they won’t have to face a sudden loss on their own.
While many people are familiar with popular consumer insurance products such as car insurance or life insurance, almost anything that can be named can be insured against a loss.
To prove it, we rounded up a list of the strangest insurance policies that have ever been issued. (To be fair, if our legs were as valuable as Cristiano Ronaldo’s, we’d insure them too.)
Strangest Types of Insurance: Appearance-related
Crossed Eyes Insurance
The first policy to insure a body part was written for the crossed eyes of silent-film actor and comedian Ben Turpin. He was known for his crossed eyes, broad mustache and top hat and tails. The $25,000 policy was to pay out if the celebrity’s trademark eyes ever uncrossed.
Speaking of mustaches—you can insure those, too. Australian national cricket team player Merv Hughes was known for his natural playing ability, huge 6’4″ frame and a trademark walrus mustache. During the height of his career, his whiskers were insured for $370,000.
In Hollywood’s golden era, continuing to get roles depended on looking your best, and fitness and nutrition wasn’t as much of a science as it is now. At the height of her stardom, Bette Davis bought a $28,000 policy from Lloyd’s of London to insure her small waist and big career.
Many famous people have insured their legs in recent years. Supermodel Heidi Klum had to meet with underwriters in London before receiving a legs policy for £1.5 million. Rihanna, Taylor Swift and others followed in her footsteps. Soccer great Cristiano Ronaldo insured his legs for $45 million apiece, not for the looks but for the function.
A Dutch wine producer who feared losing his sense of smell insured his nose for 5 million euros. The owner of Chateau de le Garde in Bordeaux is covered against a complete loss of smell provided he observes his policy terms, which include prohibitions on boxing or fire breathing.
Strangest Types of Insurance: Truly Strange
Alien Abduction Insurance
For those with a sense of humor and a fear of UFOs, Saint Lawrence Agency Insurance in Florida offers a $10 million policy for alien abduction. Claims require proof of your ordeal and benefits pay out in $1 increments for 10 million years. (Always read the fine print of your policy.)
Falling Coconut Insurance
In 1984, Dr. Peter Brass warned that 150 people died each year from falling coconuts. Since any peril can be insured against, a diligent travel company took out a policy for its customers. Before long, a visitor to Sri Lanka was hit on the head and successfully made a claim.
You won’t need insurance on the chance you win the lottery, but what about your boss? Lottery insurance coverage was developed to cover small businesses from lost productivity and the cost of rehiring and retraining if a group of workers suddenly quits after hitting the office jackpot.
You can easily get insurance for your dog or cat, but any kind of animal can be insured. Livestock insurance is made to cover chickens, pigs, horses and more. It even comes with optional “loss of egg income” coverage.
Space Debris Insurance
With heightened concern over all the objects entering and leaving orbit, Lloyd’s of London began offering space debris insurance. The product was launched in tandem with the original Sputnik satellite to cover accidental injury or death from falling space objects.
Your Home Care Business Insurance
As you can see, the strangest types of insurance vary widely, but there is always a way to protect the things that matter most. For home care businesses, that means protecting yourself from the risks you face, without having to buy costly extras that don’t apply for your organization.
Lockton Affinity brings nearly 20 years of experience to our work in the home care insurance industry, including serving as the preferred provider for 10 of the top national home care businesses. As a global broker, we can offer broad coverage at competitive pricing.
Our Lockton Home Care Insurance Package is comprehensive and affordable, and tailored to the specific needs of your industry. Our program simplifies the insurance buying process and removes all the unnecessary coverage to give you only the insurance you truly need to protect your franchise.
Have questions about your coverage options? We’re here to help. Contact us at (800) 723-9624 or HomeCare@LocktonAffinity.com.