Most insurance policies are for common things many people have, like car insurance or homeowners insurance. But insurance policies aren't limited to the everyday things we all need to protect. There are also a wide range of specialty insurance policies you can get to cover -- well, just about anything you can imagine. (And maybe a few things you can't.)
From cold feet insurance to cover you if you're jilted at the altar, to paranormal insurance to cover you in the event you're injured by that pesky poltergeist haunting your home, there's an insurance policy for every instance. Here's a few examples of insurance policies you probably didn't know existed.
1. Body part insurance
When it comes to fame and celebrity, it's often the unusual that stands out. And if your unusual feature is making you big bucks, you can insure it.
You may have heard the story of celeb Jennifer Lopez insuring her derriere, but she's just one of many. Folks have insured everything from iconic chest hair -- Tom Jones's policy was reported to be for $7 million! -- to taste buds, as in the case of several notable food scientists. And of course, many professional athletes have insurance policies covering their arms, legs, and any other limb important to their performance.
2. Wedding insurance
It's no secret that weddings are expensive. In fact, the average wedding has a $30,000+ price tag. Since that's nearly enough to buy a new car, it makes sense that you'd want to insure your event. Wedding insurance can cover everything from the venue to the photographer, ensuring your wedding isn't ruined by weather, accidents, or even drunken guests.
3. Change of heart insurance
Regular wedding insurance covers all the things that could happen to your wedding. But what happens if there isn't a wedding not because of a natural disaster or drunk and disorderly guests -- but because of a change of heart? If there's a chance someone could get cold feet and call it all off, there's insurance for that! (Though it does raise the question, if you're unsure enough to get change of heart insurance -- why get married?!)
4. Collectibles insurance
Most of us have a collector in our lives -- or are one ourselves. To collectors, few things are quite as precious as their collection. While traditional homeowners insurance will help cover a smaller or more mundane collection, it may stop short for large or expensive showings. So, whether you have a five-figure sneaker collection or a room of priceless action figures, it's a good idea to get a separate insurance policy to protect your precious possessions.
5. Niche professional insurance
Many types of professions require some sort of insurance, but some cases raise that concept to a whole new level. Take one photographer who reportedly took out an insurance policy to ensure he wouldn't go destitute if his main model got married. There's also the story of infamous comedy duo Abbott and Costello, who apparently had a large insurance policy in case they ever split.
6. Multiple births insurance
Having a baby is already expensive. Even if you have great health insurance, the cost of diapers alone could buy you a tropical vacation (or two). Now, imagine those costs multiplied -- by multiple babies at once. Multiple births insurance helps parents who have twins, triplets, or more, to cover the extra expenses.
7. Lottery insurance
It's a scenario you'd expect to see in movies, not real life: The office lottery pool wins big, and everyone says sayonara to their 9 to 5. But this stranger than fiction tale has happened before. And if you're afraid your small business won't withstand the exodus, you can take out lottery insurance.
8. Livestock insurance
If you have a dog or cat, then pet insurance can be a fantastic investment. But regular pet insurance has its limits -- like number of hooves or horns. Cows, chickens, alpacas -- whatever you raise, livestock insurance can likely cover them.
9. Bed bug insurance
Good homeowners insurance providers cover a lot, but bed bugs typically aren't on the list. That is, unless you have a special addendum. Considering the cost to get rid of these pesky houseguests can hit four figures, this may be a smart addition.
10. Fantasy football insurance
Tens of millions of people participate in fantasy sports leagues every year, and the associated costs can easily top $500 a person. Fantasy sports insurance covers your investment if things go terribly wrong, such when your star fantasy athlete has a real-life injury.
11. Death by laughter insurance
Although death by laughter sounds like a joke, there have been actual documented instances of folks laughing themselves to the grave. So to cover their bases, many comedians actually carry death by laughter insurance to cover them in such an event.
12. Alien abduction insurance
It may sound absurd to some, but to others, being abducted by an alien is a real and ever-present threat. If you fall into the latter group, good news! Alien abduction insurance can help cover you or a loved one should you be proved right after all.
13. Paranormal insurance
As any good -- or even terrible -- sci-fi movie shows, paranormal events can be exceedingly dangerous. And while marketing your haunted house as a must-visit destination is all well and good, who you gonna call if the haunts in your hotel wind up injuring a guest? In the event someone is injured or killed by paranormal activity, paranormal insurance pays out.
If you insure it, they will come
While some of the insurances on this list make absolute sense, others may seem downright bizarre. But at the end of the day, if it gives someone peace of mind to have financial protection against the unthinkable, who are we to judge?
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