7 Types of Insurance You Didn’t Know Existed

Familiar policies such as auto, home, and flood insurance are there to protect you against the expected. But what about insurance you didn’t know existed?

Have you ever thought about if you moved into a home infested with ghosts? I bet your homeowner’s insurance policy doesn’t cover paranormal activity. What if you made someone laugh so hard that they died? What would you do if aliens abducted you?

Shockingly enough, there is an insurance policy for each of these rare situations. Take a closer look at some unique yet strange insurance policies that exist.

Paranormal Insurance

The Royal Falcon Hotel in the U.K. is known for its haunting presence. The 500-year-old building was once an all-girls school and is supposedly haunted by a monk. Legend has it he hanged himself after being caught having an affair with one of the teachers. 

Terry Meggs, the hotel’s landlord, didn’t believe in ghosts until he saw objects moving with his own two eyes. He thought he should invest in paranormal insurance to protect his guests and employees. According to BBC, the insurance company paid $100,000 on a policy after an American woman died from paranormal activity.

Alien Abduction Insurance

Ever find yourself having a close encounter with an alien or UFO? Then you might be able to purchase an insurance policy protecting you from an alien abduction. 

It seems to be the new trend for a U.K. insurance company. They have sold over 30,000 policies across the continent. To be fully compensated for your damages, you must prove that you were abducted by aliens and taken aboard a UFO. 

Cold Feet Insurance

Another type of insurance you didn’t know existed is cold feet insurance. According to a survey in 2019, the average wedding in Texas cost about $30,200. That’s a lot of money to gamble if the bride or groom decides to back out suddenly.

Cold feet insurance, also known as change of heart insurance, is designed to protect the parents or “innocent financiers” from a wedding that gets called off. There are a few rules that this particular insurance plays by. For example, if the bride cancels due to a change of heart, it must be canceled a year in advance to be covered.

Fantasy Football Insurance

According to the Fantasy Sports & Gaming Association, more than 60 million members are in the United States and Canada. With the average player spending $556 in league-related costs, the fantasy sports market has become more popular. 

If you’re a fantasy football player, have you ever drafted one of the best players just for him to get injured and sit out the rest of the season? Well, there is a solution for lost players. You can now purchase fantasy athlete insurance. Some insurance companies protect all-star players in football, baseball, basketball, and ice hockey. If your player is out for a certain number of games or the rest of the season, this will reimburse you for your entire league entry fee.

Insurance Against Death by Laughter

Imagine being so funny that your jokes and impressions caused someone to die due to laughter. Comedians confident enough that their comical material might kill someone can purchase death-by-laughter insurance. This unique liability insurance was originally for protecting comedians and anyone who could kill someone by their wit and sarcasm alone. It is no secret that comedians perform better with the feedback of laughter, but there is always a slight possibility that their content could do more damage than good. 

Body Parts Insurance

Celebrities, athletes, and entertainers get paid big time for what they do best, so we expect they would want to insure the iconic assets that make them who they are. Supermodel, Heidi Klum, has her legs insured for more than $2.2 million, and Bruce Springsteen has his vocal cords insured for a shocking $6 million.

Food Truck Insurance

The last insurance you didn’t know existed is the lease offensive of all. Though this is more normal than the others, it’s not a commonly known type of insurance. Food trucks have become a new trend for chefs across the country. Owners need to financially care for their traveling establishments from property damage, auto liability, and other potential risks like food poisoning. Therefore food truck insurance is necessary. Also, something to remember is that some cities require comprehensive coverage to get city permits. Reputable insurance companies and niche providers can provide this particular type of insurance.

No matter what bizarre situations life may throw your way, there likely is an insurance policy out there to protect you. At TGS Insurance, we can’t protect you from ghosts or aliens, but we can provide you protection for standard insurance policies like auto and home.

Sources: Haven Life, Policygenius, Wise Bread