Most people are aware that insurance covers the costs of events like car collisions and house fires. But the insurance industry is diverse and innovative, with insurers always finding ways to extend coverage to events and items that many people might not think about.
Here are some surprising things that insurance has been known to cover. While it is an eclectic list, they all have one thing in common – see if you can guess what it is.
Injury to a rock star’s tongue: The rock band KISS is known for theatrical concerts, and bassist Gene Simmons’ unusually long tongue featured prominently in their showmanship – so he insured the asset. This sort of specialized insurance is not uncommon for those who rely on a bodily feature for their livelihood (such as professional athletes and actors).
Twins: Multiple births can be a financial shock. While not common everywhere, some policies provide financial support to families who unexpectedly welcome more than one baby at once.
Runaway brides: Wedding insurance can help recover costs if unexpected events derail the big day. Some policies even cover a last-minute change of heart, though terms vary.
Alien abduction: Yes, alien abduction insurance exists – though primarily as a novelty policy. Some insurers have sold policies that pay out if a policyholder can prove they’ve been abducted by extraterrestrials (presumably, the proof would be challenging to produce).
Asteroids: If a piece of space debris crashes into your house or car, you’re likely covered. Falling objects, whether from outer space or within our atmosphere, are included in standard home and auto insurance policies.
Kidnapping victims: High-profile individuals or employees working in high-risk areas can take out insurance policies that help with ransom payments, negotiations and even trauma support after an abduction.
Spoiled food: If a power outage causes your fridge and freezer to fail, leaving you with nothing but melted ice cream and spoiled milk, your home insurance may help cover the cost of restocking.
Gravestones: Your homeowner’s policy doesn’t just protect your house, but often extends to possessions outside your property. This could include repairs to a family member’s headstone if it’s vandalized or damaged.
Your actions away from home: Liability coverage under home insurance often extends beyond your property, meaning if you accidentally injure someone or damage property while out and about, your policy may help cover the costs if you are sued.
While some of these coverages are fairly niche and uncommon in Canada (especially the first four), many are available – even standard – in Canadian policies.
And what do all the items on this list have in common? Unpredictability.
Insurance is designed for events that are sudden and accidental. This is why, for instance, it is very difficult to get flood insurance if you live on the banks of a river and a flooded basement is not a matter of if, but when.
As the list shows, the world of insurance is broader than most people realize. Your current homeowner’s policy may cover more than you know. And if you have an unusual need (perhaps you’re an actor with a literal million-dollar smile), you may find coverage for that too.
The best way to know is to talk to your insurance representative about your policy and options.
