27th April 2016

The Stranger Side of Insurance

At Harris Balcombe, we’ve been in the insurance game for so long that we like to think we’ve seen it all. Take a look at the weirder side of insurance here,

Insurance policy document - image from CheapFullCoverageAutoInsurance.com

But then we took the time to read about some of the weirdest insurance policies that have ever been taken out.

As qualified and experienced loss assessors, we’re sure we’d know exactly what to do to help the claimants in any of these cases. But nonetheless, any one of these would certainly make for an interesting day at the office.

Celebrity Body Parts

Certain celebrities rely so much on certain parts of their anatomy that, were anything to happen to said appendages, they’d be ruined.

That’s why it’s surprisingly common for superstars to take out insurance on their most valuable assets.

For example? Tom Jones’s chest hair was once insured for $7,000,000.

Ruined Holidays

We’re not talking about your standard travel insurance here, which is designed to protect you against lost luggage and personal injury.

In a bid to attract more tourists, the government of Thailand once offered insurance coverage worth $10,000 to anyone harmed in riots or demonstrations.

Because there’s no point letting a bit of political turmoil ruin a perfectly good holiday, is there?

Publicity Stunts

In 2001, the Mir space station returned to Earth.

To mark the occasion, American fast food giants Taco Bell set up a 40x40ft target in the South Pacific. If the Mir successfully hit the target during re-entry, Taco Bell promised a free taco for everyone in America.

But of course, such a large order of tacos would have bankrupted the company. Luckily, Taco Bell was prepared. They took out insurance just in case the Mir managed to hit their target.

Alien Abduction

Paul Hucker is just one of the 20,000+ Americans who pays a premium for insurance against alien abduction.

Specifically, Mr. Hucker insured himself to the tune of $1.5m against “abduction, impregnation, and consumption by aliens.”

Which makes sense. You’d probably miss quite a few weeks at work were you consumed by aliens.

Lucky Employees

If you won the lottery on a Saturday night, would you still bother showing up for work on the Monday morning?

It’s unlikely.

And while this would be immeasurably satisfying for you, for your employers, it would be something of a problem. After all, all that work you left behind isn’t going to do itself, is it?

But imagine if everyone in your company became rich overnight. There’d be a lot of empty desks come Monday morning. And while this might seem like a remote possibility, with so many businesses running lottery syndicates, it remains a possibility nonetheless.

That’s why some businesses take out lottery winners’ insurance. It’s designed to cover the costs of hiring temps and training new employees should the syndicate’s numbers come up.

But this is just a small sample of the stranger side of insurance. It just goes to show that the world of insurance is a lot more interesting than it’s often thought to be.


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