Insurance has been around for centuries. The Chinese started practicing it to protect their wares from risks as they distributed them and traveled along treacherous waterways. Soon it became a practice to also insure the lives of people.
Today, we have it for just about anything. If you can name it, an insurance policy can be written up to cover it.
When haunted houses became popular as a form of entertainment, boo! Insurance policies became the norm to protect haunted house owners from claims that visitors were frightened to death. Seriously, it happened in St. Louis when a teen’s family filed a wrongful death suit against a haunted house owner when the teen, who had asthma, suffered an attack (supposedly because of the fog machine) and passed. Haunted house owners now must have a general liability policy.
In fact, an owner of any kind of attraction should engage an agent to set up a liability policy to protect their property against a lawsuit.
By the way, with the increasing popularity of so-called ghost hunters, policies have been developed to protect the ghost hunter business with professional indemnity and public liability coverage,
War of the worlds
There are tons of people who believe there are other life forms in the universe. Not only that, they also fear being abducted. Don’t laugh. Some of the biggest insurers in the country actually have policies available in case of alien kidnapping or abduction. One even has an option to insure your property and yourself against a UFO accident or crash.
The truth is out there. How about this truth: there are more than 30,000 people out there that have purchased alien abduction policies. By the way, there are also policies available for protections from werewolves and vampires, too.
Famous body parts
There was a song out once called “Bette Davis Eyes,” but that wasn’t the part of her that earned special coverage: it’s was her waist. Celebrities and athletes have become famous for insuring parts of themselves.
• Bruce Springsteen has a policy on his voice.
• Love Julia Roberts’ smile? It’s insured.
• Kiss rock band member Gene Simmons took out a policy on his tongue.
• Tackle this: Proctor & Gamble, which makes a popular dandruff shampoo, has insured the hair of Pittsburgh Steeler Troy Polamula, who stars in their dandruff shampoo commercials.
• Heidi Klum’s legs are insured for $2.2 million by Braun, who makes leg care products. Actresses Marlene Dietrich and Betty Grable also had their million-dollar legs insured at one time.
It had to happen… wedding insurance. And it’s not just available for whether or not the bride or groom backs out. There are policies available to cover all the things that could go wrong before the couple says, “I do.” Policies are available that cover such things as the venue closing before the wedding, extreme weather or injuries sustained by those involved in the upcoming nuptials.
There are contests promoted where the sponsor doesn’t really expect a winner. However, that sponsor is usually smart enough to have protection to cover its financial responsibility in the case someone does get that hole-in-one or makes that shot from half court. Yes, you can win, and the promoter doesn’t lose.
Pay the ransom
Are you afraid of being kidnapped, and not only that, afraid your spouse can’t pay the ransom? Never fear. Your agent is here! Seriously, with the state of the world and anti-corporation sentiment at an all-time high, many major companies have taken out policies that cover ransom in case one of their executives is kidnapped, especially in another country.
This has become such an issue, that insurance companies actually have negotiators on hand that will work to meet the kidnappers’ demands, of course up to the value of the policy.
Don’t want to have twins? There’s coverage available for that. It’s called multiple-birth coverage. It provides protection against the financial impact of having more than one child per birth.
Let’s be sense-able
Even sight, smell, taste and hearing can be insured. There’s a Dutch winemaker who has had his nose insured for $8 million. He claims that his nose can detect thousands of unique scents and that that makes his wine business as successful as it is. He had to do his part, too, though; he is not allowed to play sports, ride a motorcycle or breathe fire. Yea, his policy says that.
But the last word, well, that belongs to the tongue of course. A coffee taster has a policy that covers his tongue for $14 million.
If it has monetary value or sentimental value, there’s an insurance policy out there.