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Unconventional Insurance Policies That You Have Never Heard of

When you hear the word ‘insurance,’ you probably think of life insurance policies or motor insurance, health insurance, and other such conventional policies, right?

But did you know that there exist or have existed, some other types of insurance policies that you may never have heard of before?

As bizarre as they may sound, these insurance policies are as real as the conventional ones.

Here we have summed up some of the unconventional insurance policies that you have never heard of. 

Insurance for Body Parts

Various celebrities like actors, sportspersons, and models have ensured that their bodies are most valuable, like legs or hands. For instance, sportsmen like the ones who play football may need to get their legs, or even their hands insured. David Beckham has done that by getting his hands insured for 146 million, as well as his face, for 40 million. Similarly, the model, Heidi Klum, has also obtained her legs insured for over $1 million.

When you get any of your body parts insured, and that body part gets injured, you can claim the money and get it fixed. Such policies also cover any financial losses you may incur during the process. As such, this type of insurance, offered by premium insurance companies, is availed mostly by celebrities.

Insurance for Pets

Pets are part of the family of their owners. At least, they are seen that way by the ones who own them. And in case your pet gets sick, providing it with the treatment it requires can cost a lot. So, there are insurance policies that help you with not only that but also cover for you if your pet dies. Pet health insurance plans are one such type of insurance policy that covers all the expenses you may incur for your pet, including medical costs such as vaccination or even hospitalization.

Although most of these policies are primarily meant for dogs since they are the most common types of pets, insurance policies are available for other types of pet animals as well. Such policies cover for other pets like cats, horses, and even cows. Furthermore, these life insurance policies also come with the death benefit option that you can avail of if your pet dies due to some unforeseen circumstance. Some of the most common types of risks that pets can run into that are covered in these policies include accidental death, breeding risks, and losses due to theft.

Insurance for Weddings

There are also several insurance companies offering comprehensive policies that cover the expenses of weddings. When you plan a wedding ceremony, you may incur different costs that you may not be able to cover all by yourself. Certain unexpected expenses, such as the bride or groom’s change of mind or even deaths that can occur during the ceremony, are also covered.

The sum assured for a wedding insurance policy depends on several factors. But they mostly vary based on the expenses incurred, such as booking the venue or hotel and travel expenses if there are any expenses for printing the invitation cards, expenses incurred for decoration, and any other expenses. Some wedding insurance policies also cover for last-minute, unexpected expenses such as if the photographer is not able to make it to the ceremony, or even damage caused by any other reason.

While these types of insurance policies may already sound bizarre, wait till you hear about some other weirder types of plans that you did not even think existed. So, let’s begin.

Tourist Insurance for the Thailand Riots

Thailand is known for riots. And, to encourage tourism, the Government has come up with an initiative to provide insurance against such riots. Such insurance policies are available for every tourist visiting the country. Furthermore, the Government is offering up to $10,000 as insurance to all the tourists.

In 2006, the country ousted its Prime Minister, Thaksin Shinawatra, connected with a military coup, and has been in a political conflict ever since. The Government decided to bring about the insurance policy when the country had both its airports seized in 2008. Following this, in 2009, the tourist rate in the country dipped by about 8%.

Insurance for Love

You may probably don’t need it, but yes. There is a policy out there that gets your love insured. And most companies that offer this type of insurance also say that those who are in love should get themselves one. To prove this point, consider this example.

There was once a photographer who was in love with his model. He got insurance for himself if the model left him and got married to someone else. It turns out that’s precisely what happened. The model got married to someone else, and the photographer claimed the insurance money.

The insurance money helped the photographer to recover his losses. This story proves that no matter how bizarre the insurance policy may sound, we still won't know when it may come in handy. So, don’t think even for a second that such weird insurance policies are not required.

There are many other weird types of life insurance policies out there that you probably may have never heard of before. But there could be more types of such unconventional insurance policies other than the ones discussed above. The more research you do on insurance, the more information you get. Everyone needs a life insurance policy these days. It’s one of the only ways to secure yourself financially.

Hence, make sure that you do more research before you get yourself a life insurance policy. In this way, you can be sure that you have got a robust policy that covers all expenses that you tend to incur during your lifetime.

FAQ's

  • Q: Are there other types of Insurance Policies that I haven’t heard of before?

    Ans: Yes. There are so many other types of unconventional or bizarre insurance policies out there that you probably have never heard of before. For example, there is insurance for body parts. And although only celebrities such as sportspersons or movie stars tend to go for them, the fact is that it exists. Likewise, there may be other types of weird insurance policies that haven’t yet come to light.
  • Q: Do Unconventional Insurance Policies Cost More than the Normal Ones?

    Ans: While some types of unconventional insurance policies tend to cost a lot more than your average life insurance policies, other such policies could cost about the same or less. So, not all unconventional insurance policies are expensive.
  • Q: What is Insurance against Ghostly Attacks?

    Ans: Believe it or not, there is an insurance policy somewhere out there that provides coverage for all those people who are obsessed with science fiction movies and believe that ghosts exist. They sometimes believe that ghosts, monsters, or aliens from outer space can attack them at any time. To make claims for such insurance policies, the insured person's dependents should state that the policyholder was assaulted by a ghost or an alien from outer space and died.
    The Saint Lawrence Agency is one provider of such an insurance policy. Another insurance provider in Europe has claimed that they have been able to sell 30,000 such policies to date.
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