When you think of insurance, you likely think of car insurance, home insurance, or life insurance. These common types of policies protect your belongings and your family. However, some people go beyond insuring the typical things and opt for more unusual policies. Here are ten of the most surprising insurance policies out there.
Heidi Klum insured her legs for £1.5 million after underwriters in London inspected them. Interestingly, one leg was valued at £130,000 less than the other due to a small scar.
After Dr. Peter Brass claimed that 150 people a year died from falling coconuts, a UK travel company took out "injury by falling coconut insurance." One of their customers was hit on the head by a coconut and successfully claimed on the policy.
Rumor has it that Tom Jones took out an insurance policy for £3.5 million to protect his famous chest hair.
Three Scottish sisters were once insured for £1 million against the possibility of a virgin birth in the event of the Second Coming of Jesus Christ. The policy was eventually withdrawn after several challenges from the Catholic Church.
In 1971, a Scottish whisky company, Cutty Sark, offered a £1 million prize to anyone who could capture the Loch Ness Monster. They insured the competition in case someone actually succeeded, but Nessie continues to roam free.
Michael Flatley had his feet insured for £25 million.
Lottery Winner's Insurance is designed to cover small businesses if two or more employees leave work due to a win. Unfortunately, it only covers you if the employees leave at the same time.
Kiss frontman Gene Simmons insured his tongue for $1 million in the 1970s.
Dutchman Ilja Gort insured his nose for £3.8 million. The policy protects against damage as long as he doesn't take part in winter sports, a boxing match, or fire breathing.
Lloyds of London claim to have around 20,000 insurance policies covering UFO or alien abduction. To make a claim, you need to take a lie detector test and have a third party witness.
While some of these policies might seem bizarre, they highlight the importance of protecting what matters most to us. While insuring against alien abduction or capturing mythical creatures might be a bit far-fetched, protecting our income in retirement is actually quite sensible. It's far more likely that we'll need to make a claim for something like that than for the loss of a chest hair or a tongue injury.