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10 hilarious insurance policies that actually existed

By SmartCoverage Team on July 27th, 2018

Today, we’re going to have a laugh listing some crazy and hilarious insurance policies that have existed on the market. We’re sure you’ve heard about the extents celebrities go to protect their most valuable assets, but it goes even further than that!

Celebrity policies

We’re going to start with the celebrity policies because they’re sure to entertain. These insurance policies are provided by specialty insurers that protect artists or sports players from ruining their careers due to some physical mishap.

In the 1940s, 20th Century Fox executives made a bold move and insured the “iconic” legs of actress Betty Grable for $1 million each, perhaps starting a trend for celebs to follow in more recent years.

Singer Mariah Carey reportedly has a $1 billion policy that insures her legs against damage, while Victoria Secret Model Heidi Klum has her legs insured for $2.2 million.

Football star David Beckham had his legs insured for nearly $200 million during the height of his career. But performers insure more than just their legs, you know.

Jennifer Lopez has a $27 million policy that protects her bum (from what? Not sure) and Rolling Stones guitarist Keith Richards has insured his middle strumming finger for $1.5 million. Rockstar Rod Stewart has his vocal chords insured for $6 million, in case he cannot perform to his best.

Cold feet insurance

Weddings are expensive and wedding insurance exists! If the bride or groom gets “cold feet” exactly one year before the wedding is scheduled to occur, any third party who has invested in the event will get reimbursed. How’s that for fine print?

Multiple birth insurance

Multiple-birth insurance offers a lump sum if parents find out that they’re having multiple children. As a caveat, parents who have undergone fertility treatment cannot take out this policy.

Divorce insurance

Several companies offer couples divorce insurance which promises a payout when a marriage dissolves.

Chicken insurance?

Yes, there’s pet insurance, which covers the costly expenses that accrue when a pet experiences illness or injury, or if they require medication or surgery. Now, some employers and private pet insurers have been known to offer coverage for Noah’s entire Ark, from backyard chickens to pet mice.

Kidnapping insurance

High risk countries that may be undergoing civil unrest or unpredictable political events makes travel insurance a necessity. However, for wealthy families and companies with employees overseas, kidnapping insurance covers the cost of ransom payments, travel arrangements and skilled negotiators should any traveller fall into a terrible trap. Let’s hope not.

Drunk guest insurance

Officially known as “social host liquor liability coverage,” this policy mimics liability coverage that comes standard with many homeowners policies but is specifically worded for drunk guests (if your rager puts anyone in danger).

Bedbug insurance

This is something that could come in handy for travellers staying in dense, urban cities. Normal renters or homeowners insurance policies do not cover for pest infestation, and most bedbugs are picked up outside of the home.

If you’re a frequent traveller, perhaps staying in hotels and Airbnbs, you might want to add a bedbug rider to your travel insurance policy just so you have coverage in case you bring home these life-ruiners after a conference, overnight stay or backpacking journey.

Alien abduction insurance

People claim to have been abducted by aliens all the time, and some 30,000 alien abduction policies have been issued to protect against this otherworldly phenomenon.

According to Wiki, St. Lawrence Agency in Florida was the first company to offer UFO abduction insurance. St. Lawrence says that it has paid out at least two claims so far, paying the abducted victims $1 per calendar year until their death, or $1 for 1 million years -- whichever comes first!

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