NJM Blog

Wacky Insurance

Wacky Insurance

From insurance against alien abduction to insuring limbs for millions of dollars, the insurance industry has grown to offer unusual and unexpected coverage. Here are a few wacky insurance stories that are sure to make you laugh out loud.

Alien Abduction Insurance.

The UFO Abduction & Casualty Insurance Company offers coverage for just $19.95 (with free shipping!) which has been purchased by tens of thousands of people worldwide, including celebrities such as Shirley MacLaine and Larry King. The policy offers up to $10 million in coverage for medical and psychiatric care as well as emotional distress. Since its inception in 1987, the company has paid out two claims (both in New York). The company also offers asteroid insurance.

Body and Face Insurance.

Some people stake their careers on parts of their body, such as models' figures and singers' vocal cords. For this reason, celebrities often take out insurance for their most prized possessions. Soccer star David Beckham had his legs and feet insured and supermodel Heidi Klum insured her legs for $2.2 million dollars — one leg for $1 million and the other for $1.2 million. The reason for the difference? A scar on one of Klum's knees. Actress America Ferrara's smile was insured for $10 million.

Who first got the idea for this unusual insurance? It's believed that the phenomenon of insuring body parts started with Ben Turpin, a silent movie star who bought a policy in the 1920s for $20,000 to insure that his signature crossed eyes did not turn straight.

Company Insurance.

The TV game show "Who Wants to be a Millionaire?" insures against having to pay major prizes to big-winning contestants. Microsoft has even insured Bill Gates against dying or becoming disabled!

For more wacky insurance policies and claims, check out Insure.com's database of facts.