8 Crazy Insurance Policies

Written by: Sue Fritz | | Insuring Your Jewelry

Alien abduction

Are you deathly afraid of turning into a werewolf? Maybe you’ve watched a lot of X-Files episodes, and want to guarantee your security in the case of alien abduction. If either of these apply to you, there’s an insurance policy for that! While some insurance is essential (like car insurance, homeowners insurance, and jewelry insurance), other policies are a bit more bizarre.

Body Part Insurance

There are two kinds of people who tend to insure their body parts: celebrities and people who make a living using a particular appendage. Examples of the latter include Harvey Lowe, winner of the first World Yo-Yo Contest, whose hands were insured by Cheerio Yo-Yo Company for $150,000, and British food critic Egon Ronay, who had his taste buds insured for $400,000. People have 10,000 taste buds on average, so that’s $40 per bud!

Several celebrities have insurance policies on their body parts. Dolly Parton’s breasts are insured for $300,000 each, and Aquafresh has insured spokesperson America Ferrara’s teeth for $10 million. She may have worn braces as “Ugly Betty,” but those pearly whites are worth millions!

Alien Abduction Insurance

There are a few companies out there who will insure people against UFO abductions. One London-based company is said to have issued over 30,000 policies! You can even purchase an insurance rider in case you are impregnated during your abduction. Don’t worry, men; that applies to you, too! Of course, the burden of proof is on the claimant, so if you ever are abducted and have insurance, bring your camera – you’ll have to pass a lie detector test and supply video of the abduction.

Cigar Insurance

Lloyd’s of London allegedly insured a 12-foot cigar, which was the biggest cigar in the world at the time. It was made up of over 15,000 tobacco leaves. Freud said, “Sometimes a cigar is just a cigar,” but we’re betting he’d have something to say about someone who needs a 12-footer. Let’s just hope the owner stored it somewhere fireproof!

Ugly Insurance

British woman Nicola Jones’ husband always joked that if she lost her looks, he would divorce her. So, like any reasonable woman, she decided to take out an insurance policy to the tune of £100,000, or about $165,000. How will her appearance be judged if she files a claim? By ten independent building workers, of course.

Art Insurance

There’s nothing unusual about insuring artwork, but this one’s a bit more grisly than your average Van Gogh. In 1991, gallery owner Charles Saatchi bought insurance for a sculpture by Marc Quinn. The sculpture, titled “Self,” is a life-sized version of Quinn’s head – made entirely of nine pints of the artist’s frozen blood. Allegedly, the insurance company had to pay out when Saatchi had his kitchen remodeled and workers unplugged the freezer it was kept in, causing the sculpture to melt, but many art enthusiasts are skeptical that such a, um, “valuable” work of art would be stored in this way.

Award Insurance

Companies that promise big payouts to contest winners often take out insurance policies in the event that someone actually wins the contest. In 2014, Quicken Loans hosted a Billion Dollar Bracket Challenge with a billion dollar prize for anyone who could fill out a perfect March Madness bracket. Odds of winning? 1 in a little over 9 quintillion. Nonetheless, the contest was insured by Berkshire Hathaway, who would have been responsible for paying out if anyone actually won (no one did). Game shows can also get insurance in the case of a major payout. In 2000, the British insurer of “Who Wants to Be a Millionaire” filed a lawsuit claiming that the American version is too easy to win and led to “unacceptable” losses.

Werewolf Insurance

Do you suffer from debilitating fears that you’ll be bitten by a werewolf? A lycanthrope (the ‘scientific name’ for a werewolf) is a dangerous mythical creature that appears to be human, but takes on a wolf-like form during full moons. Potential future victims of lycanthropy can take out an insurance policy that will cover death and disability from paranormal phenomena.

Immaculate Conception Insurance

In 2006, it was revealed that British Insurance had been providing coverage to three Scottish nuns who were concerned about the costs of raising a future messiah during the second coming of Jesus. They were paying yearly premiums of £100 to cover them in the event of a virgin birth, which the insurance company insisted it had been donating to charity. After a public outcry, they withdrew the policy.

While you probably aren’t going to turn into a werewolf or give birth to the next messiah anytime soon, something you might do is lose or damage your jewelry. While it’s tempting to think “it’ll never happen to me,” unfortunately it happens all too often. With jewelry insurance from Lavalier, you can have peace of mind knowing that your jewelry is protected, whether it falls down the drain or mysteriously disappears during an alien abduction.

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Lavalier is pleased to share this material with its customers. Please note, however, that nothing in this blog should be construed as legal advice or the provision of professional consulting services. This material is for general informational purposes only, and while reasonable care has been utilized in compiling this information, no warranty or representation is made as to accuracy or completeness.