From Alien Abduction to Zombie Apocalypse, the A to Z of Insurance
Of course you’ve heard of life insurance, and maybe you’ve heard of celebrity body part insurance, but have you heard of zombie apocalypse insurance? It seems that wherever there is a concern, whether real, imagined, or just plain nuts, there is an insurance product to address it. Here is your handy A to Z guide chronicling the various types of insurance floating around out there.
- Alien abduction insurance. If you’re worried about being snatched by extra-terrestrials, there’s insurance for that. More than 30,000 policies have been written. 1
- Asteroid and meteor insurance. It’s available, but unfortunately it won’t protect you from all those awful late-night movies about asteroids and meteors.
- Auto insurance. The first auto policy was issued in 1897. Perhaps because stop signs and traffic signals weren’t introduced until 20 years later.2
- Bed bug insurance. As if having bed bugs weren’t bad enough, most homeowner’s policies won’t cover costs for extermination or new furnishings, for example.
- Body part insurance. A singer’s vocal cords, a soccer player’s legs, and a guitarist’s famous middle finger (seriously) are some examples of how stars protect their livelihoods.
- Business insurance. In addition to property, liability, and worker’s comp coverage, many businesses are now adding data breach policies to guard against hackers.
- Change of heart insurance. Also called “cold feet” insurance, this policy will reimburse a third party for the costs of a wedding if the bride or groom calls it off a year in advance.
- Chicken insurance. With more people raising ducks, pigs, goats, and chickens in their backyards, specialty policies now cover all manner of “pet” livestock.
- Dental insurance. Take care of your teeth and they’ll take care of you. Poor oral health is linked to diabetes, heart disease, and stroke.
- Disability insurance. A young person entering the workforce today has a 25 percent chance of becoming disabled before retirement. Disability insurance can be a lifeline when income is lost.3
- Fantasy football insurance. Protects the fantasy team “owner” if a player gets injured. By the way, fantasy football costs employers over $13 billion in lost productivity.4 (Where’s the insurance for that?)
- Ghost insurance. Some companies will protect you against being permanently disabled by a ghost. Proving it might be tough.
- Haunted house insurance. Dim lights. Open flames. Sudden frights. Halloween haunted houses can cause a nightmare of personal injuries, which is why most carry liability policies.
- Health insurance. Inability to pay medical bills is the primary cause of personal bankruptcy. Make it a priority in your budget and look for the best coverage you can afford.
- Hole-in-one insurance. If you make a one-in-a-million shot, golf tournament organizers get lucky too, as long as they have a policy to cover the cost of the new car you just won.
- Homeowner’s insurance. The top five home claims? Wind damage, water damage from faulty plumbing, hail, weather-related water damage, and theft.
- Life insurance. A high-tech billionaire recently bought the world’s most valuable life insurance policy worth $201 million.5 But even thousand-aires can benefit from such protection.
- Loch Ness Monster insurance. A company is offering $1.5 million to anyone capturing the legendary Nessie alive, and they’ve taken out a policy to cover their losses. So far, no takers.6
- Lottery insurance. You own a small business. Half of your workers win a huge lottery and quit. This policy will help cover your costs of hiring new people. Preferably non-gamblers.
- Multiple birth insurance. Paging a certain formerly eligible bachelor. Couples blind-sided by twins, triplets, or more babies can get coverage to handle the extra costs.
- Pet insurance. Pet owners spent over $15 billion on veterinary care in America in 2014, but less than one percent of the nation’s 171 million dogs and cats are covered by pet insurance.7
- Pirate insurance. Piracy pays, just ask the legendary captain of the Black Pearl. Pirates cost ship owners upwards of $16 billion a year, and insurance can help cover costs for hull damage, kidnapping, and ransom.8
- Renter’s insurance. Many renters believe a landlord’s insurance will cover them in the event of property loss or damage. Wrong. Get a renter’s policy. It’s highly affordable.
- Tuition insurance. If a student withdraws from college or university due to medical reasons or a death in the family, tuition insurance can help recover lost tuition and related expenses.
- Zombie apocalypse insurance. Whether it’s zombies, werewolves, or vampires on the loose, these policies have you covered.
While there are certainly a few insurance types here that many would consider, well, gratuitous, there are others that are a smart move, life and disability among them. The takeaway: expect the unexpected, and get protected.
Brought to you by The Guardian Network © 2017. The Guardian Life Insurance Company of America®, New York, NY.
2017-42538 Exp. 06/19