5 Weird insurance policies from around the world

We all hear stories of how celebrities and sportspersons insure their body parts for millions. Amazing, isn’t it? However, sometimes a policy itself becomes more exciting than babbles like who is using it or the cost involved. We have already covered some unusual insurance policies here before. Check out the following five weird insurance policies perhaps you are already covered by but never knew existed.

1. Alien abduction

There has been no official announcement as of now from any of the governments about traces of higher intelligence beings visiting Earth. However, that doesn’t matter as over 30,000 people in Europe have already purchased alien abduction insurance. Now, why they think that they’d be selected for abduction over the other 7 billion people on earth or how they or their close ones would prove to the insurance company that they have been abducted by alien beings only is a completely different issue. Our good wishes are with them.

2. Paranormal activities

If there is anything strange happening in your home or in your neighborhood, what are you supposed to do? Opt out a policy so that the strange things stop happening? The owner of the Royal Falcon Hotel in Suffolk, UK has chosen a similar path. He has taken out an insurance policy to safeguard himself against any damages caused by his ‘supernatural guests’. The policy offers up to £1m in compensation if his staff or customers are killed or hurt by the ghosts, poltergeists, or by any abnormal phenomena that allegedly live on the property. Simon Burgess, the policy’s chief underwriting officer, told the BBC that, “There has been paranormal activity there, and we will treat any claims very seriously, and carry out our normal psychic investigation.”

3. Trouble in Thailand

Travel insurance is a very common thing among globetrotters. If you are one among them, you too perhaps take out a policy whenever you fly to some place. If you are planning to visit Thailand - the tourist capital of South East Asia, you are already protected by a coverage, courtesy of the Thai Government. If we turn over the pages of contemporary history, we’ll find that Thailand has faced more coups d’état than any other country. Hence, to save the 16 million (approx.) tourists that visit the country each year, the Thai Government has availed an insurance policy, which promises to provide $10,000 to each tourist harmed in any political upheaval.

4. Prize indemnity insurance

Many golf courses offer incredible prizes on successfully getting a hole-in-one. This is such a challenge that nobody expects someone to meet and win a hefty prize. However, such high valued promotions are often insured by prize indemnity where all the risks associated are carefully calculated and numerous rules explicitly laid out.

5. Winners and losers coexist

Suppose you have established a business after years of struggle. Today, you have a queue of satisfied employees, lineup of competitive products, and a fine bottom line. Then suddenly one day you find out that a key player in the production team has won a lottery and decided to leave. Someone’s luck can turn unfortunate for your business. The credibility that your company earned in years can be lost in days. Such a worry is so prevalent among the business owners in UK that they have now started taking out insurance policies protection them from lottery winners. Perhaps, there would be a handful of insurance companies in the US that might offer you protection from ghost attacks or lottery wins. Nevertheless, you can check with your insurance agent or find online.