Upon mentioning insurance, what usually comes to mind is merely motor insurance, or life insurance at most. However, what people do not realise is that insurance is not only restricted to the obvious. It is constantly expanding as an industry even going beyond human related activities, as insuring pets is most definitely not unheard of. One can always find eccentric, well-off individuals who can afford to insure the weirdest of their possessions or the most bizarre of situations.
Such an individual is a certain Mary Murphy who in 1999 after having nightmares about the new millennium, feared that she was going to immaculately conceive as the turn of the century approached. What’s the sensible thing to do when having such a fear? Well, get it insured of course. I can only imagine how complex her evidence of this immaculate conception would have been had she become pregnant.
One cannot simply mention irregular insurance policies without delving into celebrities’ bizarre insurance practices. Whitney Houston, Toni Braxton, Celine Dion, Bob Dylan and Bruce Springsteen have all insured their vocal chords. Celebrities’ insurance extravaganzas also include Mariah Carrey and David Becham’s insurances who spent $1 billion and$70 million on their legs respectively. German super model and actress Heidi Klum also insured her legs but perhaps hers is the most bizarre case of all as her legs were not equally valued. Klum’s right leg was valued at $1.2 million whilst the other was valued at $ 1 million, only because it has a scar on it. Rumour had it that Tom Jones insured his chest hair for $7 million, but the artist himself has denied such allegations. It is interesting to note that the first celebrity that insured a part of his body was Ben Turpin, who insured his crossed eyes for $25,000 from Lloyd’s of London.
Another unusual insurance policy is that of The Royal Falcon Hotel, situated in Lowestoft (Suffolk). The landlord of this hotel has applied for an insurance policy to protect its customers and staff from spirits and ghosts as it is believed to be haunted by a monk who was hanged for raping one of his students, as the hotel was originally a girls’ school. This might only be a technique to attract curious and adventurous customers to the hotel, yet, the insurance against ghosts actually exists. On the subject of the supernatural and extraordinary, another weird insurance policy is that against alien abductions. It is estimated that approximately 20,000 people have taken abduction policies but it is a real pity that they would not benefit from it in the case that it becomes applicable.
More unusual insurance policies include insuring a grain of rice with a portrait of the Queen and the Duke of Edinburgh engraved on it for $20,000. Cutty Sark once ran a competition where the person who proved the existence of the Loch Ness monster would win a million pounds, and the firm insured for the possible loss that it could have incurred. It’s almost better to try and find what isn’t insured nowadays rather than what is. It’s a a great challenge to come up with an innovative insurance policy as just when you think you’ve hit the nail on the head and discovered what in your eyes is the most bizarre thing to insure, think again because there’s someone else who has beat you to it.