Alien abduction... werewolf attack? We’ve got you covered
LOTS of people have told us lately that the relentless coronavirus news is getting them down. We all need something light-hearted to get us through the day. So let us take you through the wacky world of bizarre things you can insure...
IS THIS FOR REAL?
‘SPECIALIST insurance’ can include sensible things like funeral plans, gadget cover and wedding insurance – policies you might actually have.
However, if you can think of it, you can usually cover it. We’ve left off immaculate conception, zombie and other similar policies despite the fact that they genuinely exist (seriously, check online).
BODY PARTS
WHY not insure your best feature? Body part insurance is adored by many celebrities and popularised by Betty Grable, who insured her legs for $1m
(in 1948). Of course, it was a hugely successful publicity stunt – but this and the policies that followed were legitimate.
Body parts insured by celebrities include two more pairs of legs belonging to David Beckham (£100m) and Michael ‘Riverdance’ Flatley (£25m), Ken Dodd’s teeth (£4m), Egon Ronay’s tastebuds ($400,000) Dolly Parton’s breasts (reputedly anywhere from $600,000 to £3.8m), Bruce Springsteen’s voice (£3.5m) and Keith Richards’ fingers ($1.6m)
So, can you and I insure our favourite bits? Many insurers say yes – but you’ll need to explain what level of cover you want and why the part is important. And you’ll be responsible for maintaining the item appropriately and taking reasonable care of it…
ALIEN ABDUCTION
ONCE considered an urban myth, such policies are a real thing! Some reports suggest as many as 30,000 policies protecting people against unauthorised space kidnap and probing have been sold, but a more realistic figure might be 4,000.
Typical policies cover you for; kidnapping, organ removal, pregnancy, chip removal and (my favourite) repatriation.
Policies are quite cheap, given the less-than-serious nature of the cover, but even if you buy one for a laugh, if the broker or underwriter is based in the UK they are covered by UK financial regulations – and you can lodge a complaint if you’re unhappy with a claim.
TATTOOS AND BODY PIERCING
NOT insurance to protect you against a rubbish tattoo, this covers tattoo and piercing experts practising their art.
Cover can extend to faulty equipment (yikes), unexpected problems, difficult customers, personal liability cover and requirements any small business might have.
As for victims of awful/stupid tattoos or piercing, there is UK-based cover for tattoo removal or piecing reconstruction, though presumably, you have to take this out before taking the plunge. If you have an allergic or severe reaction, a private healthcare policy may cover the necessary treatment.
HOLE IN ONE INSURANCE
ONE of the more common types of event cover is hole in one insurance – for golfing events where there’s a cash prize for golfers who hit a hole in one.
Because of the statistical unlikelihood of this happening, you can sometimes offer a huge prize for a low premium.
AND FINALLY…
THE basic principles of insuring anything apply. So if you are kidnapped by aliens, attacked by werewolves or your valuable appendages get damaged, make sure you’ve followed the terms in your policy, report the problem promptly and turn to Resolver if you don’t get anywhere.