Insurance is there to stop drama

Insurance is there to stop drama

You’ve probably heard about the types of insurance most people have because most people have them so they’re regularly advertised pretty much everywhere you look.  You may, however, not have heard of these 7 rather, specialist insurance policies.

Body-part insurance

It may sound a bit gruesome, but actually it’s not sinister at all.  People who depend on a particular part of their body for a living can insure it so that if it ceases to function at its usual high standard, they will be compensated.  According to legend, in the 1940s, screen siren Betty Grable had her legs insured for $1 million - each.  Dolly Parton is rumoured to have had her cleavage insured, although not her famous hair even though her curls are surely at least as well-known as those of former American football player Troy Polamalu who is believed to have had his trademark locks insured when he started to endorse Head and Shoulders shampoo.  Australian cricketer Merv Hughes is said to have had his famous moustache insured, although it’s hard to see what could happen to a moustache other than being shaved off.

Voice insurance

On a similar note, pardon the pun, singers can also have their voice insured.  Bruce Springsteen, Rod Stewart and Bob Dylan are all reported to have done this. 

Lottery insurance

Your work lottery syndicate might seem like a bit of harmless fun, but what would happen if it won - big?  How many people would collect their winnings and hand in their notice the next day?  In all likelihood, there are probably quite a few, which is why companies can choose to insure themselves against the possibility.

Alien abduction insurance

This actually exists, at least in the U.S., although it’s not exactly clear how you’d go about proving a claim.

Promotional insurance

This is most common in connection with sporting events where promoters offer a big prize if some unlikely event occurs, such as a hole in one at golf.  These promotions can be covered by insurance policies.  This type of insurance can, however, be used for other purposes, for example, if a shop ran a Christmas promotion with the prize being awarded in the event of snow falling on Christmas day in a certain place.

Performance insurance

Speaking of the world of sport, athletes can insure themselves against injuries which impact on their performance with a corresponding detrimental effect on their career.  One well-known example of this was that of NFL linesman Jaylon Smith who slipped to 34th place in the NFL draft because of concerns about a knee injury he had sustained.  Smith received a $900,000 insurance payout as compensation for his lowered standing and his payout could have gone much higher had his position dropped even further.  This story has a happy ending, Smith recovered from his injury and is now considered to be in excellent form with a bright career ahead of him.

Multiple-birth coverage

Parents-to-be can take out insurance to pay out in the event that they have a multiple birth and therefore have the expense of looking after two babies at the same time.  One couple in Michigan have famously claimed on this twice, producing two sets of twins.

We hope you’ve found this list entertaining, but there was and is a serious purpose behind it, which is to remind you that if something really matters to you, it’s probably worth insuring and it’s also probably worth making the time to check periodically that you still have the right form and level of insurance cover, whatever it is.  Above all, you should think about the sort of insurance you need for the people and, indeed, pets, you love to ensure that you and they are protected against life’s ups and downs.

If you have any questions please contact your local Charles Derby Financial Adviser today on 0800 849 1279 or email This email address is being protected from spambots. You need JavaScript enabled to view it.