You probably know how important insurance is for protecting your car and home, and ensuring you don’t get stuck with high medical bills. But did you know that certain insurance policies cover things like being kidnapped, your singing talent or even your upcoming wedding?
Take a beat to secure policies for these 31 seemingly crazy things if you want to avoid insurance coverage mistakes.
When you’re busy planning a wedding, the last thing you want to worry about is an accident on the big day. But you are responsible for any costs associated with accidents, unexpected damages at the wedding venue or a wedding cancellation. To avoid wasting money on a wedding that never happens, consider looking into insurance options.
Fortunately, you can purchase a special event insurance policy. Such coverage gives you liability protection in case someone is injured at the wedding. You can also cover damages to items like the dress and photographs. Finally, you can purchase coverage that covers the cost of things such as the cake and rental cars if you have to cancel the wedding due to unfortunate circumstances.
If you’re traveling abroad and worried about your safety, purchase a kidnap, ransom and extortion insurance policy to protect yourself from financial damages associated with a kidnapping or ransom situation. This policy will reimburse you for expenses associated with the incident and will pay the ransom.
Businesses and other organizations might purchase this type of insurance to cover key employees. Or, people with a lot of money who are vulnerable to a ransom-type kidnapping might purchase this coverage for themselves.
Damaged Body Part
If your income is dependent on the look or performance of a body part — such as a model’s pretty face or a quarterback’s arm — you might seek out a specialty insurance provider to write up a policy to cover that body part. In fact, a quite few celebs have insured their body parts for millions.
You can also seek out a death and dismemberment policy. This type of policy covers specific body parts in the event of an accident, but it typically pays out only if the body part is lost, not just damaged.
Your homeowners insurance policy might cover damage to the landscaping around your home from a fire, vandalism or other incident. Coverage typically is limited to a specific dollar amount, however. In addition, policies vary widely, with some insurers refusing to offer coverage for landscaping.
If you own more exotic or costly plants, consider buying additional coverage — known as an insurance rider — to protect these unique features. You can also get a rider on your insurance policy for hail and snow damage to protect plants, shrubs and trees from certain forces of nature.
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If you’re a singer, professional athlete or entertainer, an insurance company might cover you if you get hurt while entertaining. Companies such as Private Client Insurance offer coverage options to entertainers who want protection while living outside of the country, or who want to protect themselves in case of injury.
There is also a type of coverage that protects the policyholder’s wealth and assets earned through his talents. These insurance policies are designed to protect you from million-dollar lawsuits and even wrongful-death lawsuits.
Multiple births can drive up healthcare costs and might require additional medical visits or procedures. Unfortunately, there is no insurance policy available to cover multiple births in the U.S., according to Growing Family Benefits.
You might be able to make changes to your existing health insurance that will help you cover these costs, though. In addition, supplemental health insurance policies are available to help with the additional cost of twins and triplets. There is a catch, though: You must purchase such policies prior to conception.
Worried about UFOs? If you don’t want to leave Earth without some security, pick up a policy from the UFO Abduction Insurance Co. The company accepts all pre-existing conditions, and you can’t be turned down. This weird insurance also offers $10 million in coverage in the event that aliens abduct you.
Halloween Haunted House
Thinking about organizing a haunted house or pumpkin patch for a crowd next Halloween? You’ll need to have adequate insurance in the event that somebody gets injured on your property.
Many insurance companies offer a special events accident and liability insurance policy that covers you if somebody ends up getting hurt and decides to sue you. You’ll need coverage for all areas that are open to guests.
Prize for Capturing the Loch Ness Monster
In 1971, Lloyds of London agreed to underwrite an insurance policy for Cutty Sark, the whisky company that had offered $2.4 million to anyone who could capture the Loch Ness monster. Lloyds’ top condition was that, in exchange for paying out a claim, the insurance company would get to keep the mythical creature.
Lloyds also stipulated that it would not pay out any claim unless the person who captured the legendary Nessie produced a monster that was in excess of 20 feet in length. In addition, curators of the Natural History Museum in London had to agree that the captured beast was, in fact, the Loch Ness monster.
If you’re organizing a golf tournament and offering a cash prize for a hole-in-one, you can get insurance for the prize package so you don’t end up losing money if someone beats the odds. For example, American Hole ‘n One offers full coverage for multiple winners at your tournament.
Key Business Person’s Death
Small business owners and entrepreneurs are often dependent on one key person to keep the business running. If that person dies, it can wreak havoc on the business, costing it clients and leading to other financial woes.
Key person insurance provides a death benefit so the business can recover from the loss. For example, the funds can be used to find a replacement for the employee in question.
A homeowners insurance or renters insurance policy typically covers the cost of replacing a stolen computer, or a computer that was damaged in a fire or other covered disaster. But what happens if the computer simply malfunctions?
Extended warranty coverage can protect your investment beyond the policy provided by the manufacturer. Companies like SquareTrade offer this coverage.
If you’re serious about your facial hair, you can pay a pretty penny to have it insured. Australian cricket player Merv Hughes reportedly insured his mustache for approximately $370,000. According to Time magazine, Hughes’ mustache was one of his signature attributes.
When you’re in the process of shopping for life insurance, ask about riders that can provide additional coverage in the event you become terminally ill. A guaranteed insurability rider is an add-on for life insurance that allows you to buy more coverage so you can protect your family’s financial status. Without this rider, it’s likely an insurer will reject your request for coverage because of your medical status.
If you make a living as a singer or entertainer, make sure your vocal chords are well-protected. You can buy a form of disability insurance for singers that replaces your income if you end up:
– Losing your voice
– Straining or injuring your vocal cords
– Developing vocal cysts
– Developing a mucosal disorder that prevents you from singing
This coverage allows you to bring in a paycheck until your voice and vocal health are restored.
If you’re a professional photographer, you’ve probably spent a significant amount of money on photography gear. If you own your own business, you also have a liability risk.
Photography insurance provides general liability coverage, so you don’t have to worry about lawsuits if somebody is injured during a photo shoot. The insurance also reimburses damage to or theft of cameras, lenses and lighting equipment.
Many people who play fantasy sports bet big money, and an injury to a star player can put that cash in jeopardy. Intermarket Insurance Agency of Huntington, N.Y., offers fantasy sports insurance for fans who want to protect their bets. If a key player is injured, you will be eligible to receive a payout to cover your entry fee and other expenses.
Car Stereo System
When you’ve invested a significant sum into your car’s sound system, you need extra protection in the event that the stereo or speakers are stolen or damaged.
Car insurance providers such as Allstate offer sound-system coverage. These plans cover the cost of replacing stolen or damaged equipment, including the speakers and speaker components.
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Home Theater System
If you’ve spent time and money to build out your home theater system, make sure to protect that pricey equipment in the event of theft or accident. Your renter’s insurance policy or homeowners insurance policy might have a coverage limit, which means more expensive electronics might not be covered. Check with your insurance provider to see if you can buy a policy that covers the full value of your home theater system.
Identity theft is a serious problem. Someone who steals your identity can use your personal information to steal money from your bank account, use your credit cards without authorization or obtain a loan in your name.
You can purchase identity theft insurance so you will be reimbursed for the stolen funds. Some insurers sell it as part of homeowners insurance, while others offer it as a standalone policy.
Cruise Vacation During Hurricane Season
Whether you’re heading off to the Bahamas or the Caribbean on a great cruise package deal, there’s a risk that a tropical storm or hurricane could cancel or delay your trip. Cruise travel insurance can reimburse your trip costs if this unfortunate turn of events occurs.
If you’re hosting a dinner, barbecue or other event where you cook, food poisoning becomes a risk. Most homeowners policies provide up to $1,000 per guest to cover medical expenses, according to Bancorp Insurance. Check your homeowners insurance policy to see if you have this type of coverage, or if you need to buy extra coverage for this benefit.
Bar mitzvahs can be costly affairs, and the price becomes disastrously high if someone injures himself at the gathering. So, you need liability insurance coverage at the venue where you are hosting the event.
You might also need liquor liability insurance if you’re serving alcohol and there is an alcohol-related injury. You can buy bar mitzvah insurance from companies such as Wedding Insurance Group.
If you’re hosting a birthday party at a venue outside your home and are planning to serve alcohol, you’ll probably need special event insurance to cover any property damage, bodily injuries or liquor-related accidents during party time. These insurance policies are designed to protect you against lawsuits that guests might initiate if they are injured or hurt during your event.
You can also minimize your financial loss if your event gets canceled because of bad weather or other incidents.
Patio and Patio Furniture
In most cases, the dwelling insurance part of your homeowners policy covers the repair and rebuilding of the structure of your home. If your patio is not attached to the property, however, it doesn’t qualify as part of the dwelling — so you might need to purchase what is known as “other structures protection.”
Also, keep in mind that your homeowners policy might not cover items outside the home. You might be able to purchase a rider to provide this protection.
Wars and Terrorism
If you’re concerned about terrorism and political violence, consider buying war and terrorism insurance from Lockton. Among other things, coverage reimburses you for costs associated with sabotage, terrorist attacks, riots and terrorism-related event cancellations.
Lost Car Keys
Traditional car insurance policies typically don’t cover the cost of replacing lost car keys, but a comprehensive plan might. Still, you would need to pay your deductible if you filed a claim.
If you have the deductible covered already, you can go ahead and get reimbursed for the lost car keys — a valuable benefit if you have laser-cut keys with built-in transponders that can cost up to $200 for replacement and up to $100 for programming, according to some estimates.
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Yoga Teacher Mishap
If you plan on leading a yoga class any time soon, you’ll need liability insurance to cover the cost of any incidents or accidents that occur during your class. Yoga instructor liability insurance provides general and professional liability coverage, as well as sexual abuse and products liability. This insurance also covers medical payments and damage to premises that you rent.
Personal Trainer Mishap
When you’re helping people get in shape, you need insurance to protect your career. Personal trainers can buy professional liability insurance to cover any damages to the premises, medical payments, product liability and sexual abuse liability. You might not be protected under your gym’s or studio’s insurance policy, so it pays to get this type of insurance.
What would happen if somebody in your family died in an accident? Accidental death insurance can protect your family’s financial well-being in the event of a serious car, air travel or other accident that leads to the loss of a loved one.
For example, a Farmers Insurance accidental death insurance policy provides $50,000 to $200,000 in accidental death insurance protection. You can use this money to pay for lost wages, medical costs and other expenses related to the loss.