Front Light Insurance

5 Insurance Policies for the Rich and Famous


Celebrities are just like you and me. Okay, not really. They might technically be human, but their problems are a world away from yours and mine.

While we worry about getting insurance coverage for our home, car, and family, celebrities worry about getting coverage for their fifth home, tenth car, and second family living in another state.

Let’s investigate how the other half lives and insures their life. Money can’t buy happiness, but it can definitely buy a lot of cool stuff that needs to be insured.

Frontlight is LA born and bred, so we always keep up-to-date with the latest celebrity happenings caught by the paparazzi. Sometimes, the glamorous world of the ultra-famous spills over into our equally glamorous world of insurance, and the results can get pretty movie magical. Here are the top 5 most outrageous celebrity insurance policies:

1. Scandal Insurance

You know the saying: “there’s no such thing as bad publicity.” Well, sometimes that bad publicity is so bad that companies and brands need to distance themselves from their own spokespeople.

Luckily, companies can take out specialty insurance policies to protect themselves from the kind of damage only celebrities are capable of inflicting. “Scandal insurance” is a relatively new area of the insurance industry. 

Racist tirade caught on film? Drug bust at the airport? Photographic proof of an affair on an expensive Hawaiian getaway? Take out a policy!

When actor Kevin Spacey was accused in 2017 was accused of sexual assault, Ridley Scott and the financiers of the movie “All the Money in the World” lost, coincidentally, quite a bit of money, $10 million in fact. Costly reshoots with a new star, Christopher Plummer, in Spacey’s role really added up. In total, the fall from grace cost a quarter of the film’s original $40 million budget.

Boston-based insurance startup SpottedRisk recently began offering scandal coverage in the U.S. but the practice of insuring against “disgrace” is as old as insurance itself. Notoriously weird insurance broker Lloyd’s of London in all sorts of highly-specialized risk, 

Lloyd’s defines disgrace as “any criminal act, or any offence against public taste or decency which degrades or brings that person into disrepute or provokes insult or shock to the community.” Pretty vague, but it covers a lot of territory.

2. Body Part Insurance

How much is a smile worth? If you’re Julia Roberts, the answer is $24.5 million. The former most beautiful woman in the world has one expensive set of pearly whites. Famously, Gene Simmons of rock ‘n roll band KISS insured his supernaturally long tongue for $500k. 

Meanwhile, pop sensation Mariah Carey insured her famous dancing legs for a staggering $500 million. That doesn’t compare to singer Jennifer Lopez who insured her own derriere for $27 million.

3. Yacht Insurance

You have a yacht, right? Yeah, us neither. But Google Chairman Eric Schmidt, Director Steven Spielberg and United Arab Emirates Prime Minister Mohammed bin Al Rashid Al Maktoum have one thing in common: they all own superyachts. In fact, eight of the ten most expensive luxury purchases of all time were superyachts. 


Yachts are big purchases, and they need big insurance policies. These 100-meter behemoths require a crew of 50 to pilot, and incur other considerable costs for gas, maintenance, and taxes.  The total just to purchase one of these things? $275 million. The cost to insure one of these things? On average, $240 – 350k per year.

4. Private Jet Insurance

While you’re standing in line, getting x-rayed by the TSA, and waiting through two delayed flights at your gate, there’s a celebrity out there sipping champagne on his private jet, already half a world away by the time you get on board. Not only do these people have $20 million or more for a jet, they also have the money for a hangar, fuel, crew, maintenance, and, of course, insurance.

Private Jet Insurance is an insurance product that typically doesn’t fit under any traditional insurance portfolio, which can mean gaps in coverage can cost quite a pretty penny to the insured. New Jersey based Madison Insurance covers private jet owners, working with clients to create customized insurance policies in the millions for both private and corporate aircraft.

A new Gulfstream G450 costs $43 million brand new. It operates on two Rolls Royce Tay MK 611-8C engines each producing 13,850 pounds of thrust.

5. Exotic Car Insurance

You don’t have to be a celebrity to drive an exotic car, but if you are a celebrity, you definitely should drive one. There is a thriving boutique insurance market dedicated to providing coverage for exotic and classic cars. 

Michigan-based Hagerty Insurance Company is well-known for its policies covering classic cars, boats, motorcycles, and modern collector cars. These types of insurance policies fall under the scope of what’s known as “Agreed Value Insurance.”

James. A Grundy, founder of the Grundy Insurance Company and one of the founders of the Antique Automobile Club, created the concept of Agreed Value Insurance in 1947. 

Today, Grundy Insurance is the largest insurer of collector cars, protecting over rare million vehicles and a number of major auto collections around the world. Grundy even offers specialty insurance policies for wine, gold, antique, and firearms collectors.

If you happen to have $3.6 million for a Bugatti Chiron Sport 110 Ans, you’ll want to go with a broker who specializes in Agreed Value Insurance. Dubbed 2019’s most expensive car to insure at an annual cost of $50,251 ($4,888 per week), you probably won’t want to park it at the grocery store.

Frontlight Is Here, Richer or Poorer

We all like thinking about what life is like for the rich and famous. But at the end of the day, we think it’s more important to count the blessings around us and appreciate what we have rather than pine for what we don’t.

You don’t need to be rich and famous to be happy (but it might help). True happiness is feeling safe and knowing that what we hold dear is protected. Frontlight is here for you wherever your road takes you, even if it’s not paved with gold.