Front Light Insurance

6 Weird, Niche Types of Insurance Coverage

6 Weird, Niche Types of Insurance Coverage 2

Here at Frontlight, we’re always trying to find new ways to save you money on the insurance coverage you need. But sometimes we like to take a step back and appreciate just how wacky the world of insurance can be. 

Our lives offer us a lot of great things we need to protect, from our homes and businesses to our cars and kids.

We all know that home, auto, life, and health insurance are the basic necessities of adult life, but the world is a strange place full of strange dangers.

Here are some of the weirdest types of insurance coverage you can get in 2019 to protect you from the most unlikely of dangers.

1. Company lottery insurance

Let’s say you own a small business that employs 10 people. You rely on your employees for everything. One day, you open up the shop only to discover all your employees are gone. That’s when you remember the lottery pool they entered last week–turns out they won. 

Even though your labor force is gone, you don’t panic. You have lottery insurance. Lottery insurance, believe it or not, is a real insurance offered by specialty insurance provider Lloyd’s of London

Lottery insurance coverage protects employers from financial losses incurred from a sudden loss of labor force. When your entire delivery team decides to retire in the Bahamas, you’ll be glad you got this weirdly specific insurance product. 

StateFarm even offers tips in the event that you win the lottery yourself. Even though you have a 1 in 1,750,000,000 chance of winning, your odds are pretty good, right? In fact, you’d be better off purchasing 

2. Wedding Insurance

It’s the big day. The bells are chiming and your betrothed-to-be should be waiting at the altar. Instead, they ran away with their Sicilian lover to live a new life growing olives and raising sheep. 

With the cost of an average wedding at $25,000, you’re left with quite the bill and a whole lot of leftover cake. Luckily you got Wedding Insurance, which protects you from the costs of a cancelled wedding or an errant fiance. 

Wedding insurance also protects you from losses associated with bad weather, illness, and more.

With 50 percent of marriages ending in divorce, wedding insurance doesn’t seem like such a crazy idea (at least not as crazy as the Vegas wedding).

You can even insure bar mitzvahs, birthday parties, and honeymoons under similar insurance policies.

3. Body Part Insurance

Some people are more than just the sum of their parts. But sometimes, their parts can rack up quite the sum!

For singers, athletes, dancers, models, and other professionals who use their bodies in their line of work, there’s body part insurance.

Customers can insure themselves from head-to-toe, whether it’s a pitcher’s fastball-throwing arm or an opera singer’s wiggling uvula.

Bruce Springsteen famously insured his voice for $6 million with Lloyd’s of London and in 2006 soccer superstar David Beckham insured his entire body for $100 million, the largest personal insurance policy purchase in history.

4. Multiple Birth Insurance

Kids are a blessing. But some kids can be a surprise blessing. Let’s say you and your loved one are expecting. You have the crib and the clothes picked out–but there’s just one problem: the doctor says you’re having twins. 

Despite advances in ultrasound technology making this type of insurance mostly obsolete, parents will still take out multiple birth insurance policies in the event that Mr. Stork delivers one too many bundles of joy.

These types of policies usually require you to sign up at the time of pregnancy. If you’re betting on twins but get quadruplets, you might just end up getting a payout.

5. Kidnapping and Ransom Insurance

After getting multiple birth insurance, you might as well go all the way and get kidnapping insurance. The payout from your quadruplets might not be enough to pay the ransom from the mob. 

While the chances of a child being kidnapped are 1 in 300,000 several insurance companies offer kidnapping and ransom insurance in the event your child is kidnapped and held hostage for millions of dollars. That can be a tough thing to budget on short notice. 

These types of policies are really more for the billionaires and celebrities of the world. Nevertheless, Travelers Insurance made a video extolling the benefits of kidnapping insurance, calling it a “must-have.”

6. Alien Abduction Insurance

Okay, this one’s a little far out. But we want to believe. Some insurance companies offer policies that protect you in the event that martians invade and ask to see your leader.

Lloyd’s of London, weirdest of the weird insurers, has sold 30,000 policies to date covering this highly unlikely event.

 One Floridian has been offering alien abduction insurance policies for years. Earlier this month, he extended his insurance coverage to include the Area 51 Raid.

Sadly, the terms are pretty tough. You need an alien’s signature for the policy to be valid and it only pays $1 per year for 10,000,000 years. But when your alien overlords offer you eternal life, this might be your ticket to the big time. Let’s be real: they’re out there.