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6 Weird but Legitimate Insurance Policies

The great thing about insurance, and there’s only one, is that it exists for almost anything, from alien abduction to immaculate conception. The only problem with such outrageous but legitimate insurance policies (as with all of them) is that the onus of proof lies with the insured.

A broken window could prove a thief really broke in. Pregnancy may also prove immaculate conception. But, such insurance policies are often underwritten by a company eager to make a quick buck off a gull. Have you been bamboozled by a bogus insurance policy for something outrageous?

Top 6 Strangest Legitimate Insurance Policies

Take a look at these 6 weird but legitimate insurance policies and see if you rank among them.

6. Riot insurance in Thailand.

Not just white beaches and ping-pong shows, Thailand is infamous for its civil unrest. In fact, so much so that the government has issued blanket, duty-free insurance for all tourists for injury and damage to property. They instituted this policy in 2008 when rioters took hold of two airports. Foreigners get a $10,000 pay-out should they or their property suffer harm.

5. Cow Dehydration Insurance.

A relief for farmers in Africa, especially Kenya, livestock insurance now covers the animals for dehydration. In 2009, hundreds and thousands of animals died in one of the worst water shortages in Kenya. Unfortunately no insurance policy existed for farmers, as it was logistically impossible to count all the animals. As of last year, underwriters could use satellite to count the animals. Cows cost $150 each to insure, although the premium depends on the region.

4. Space Travel Insurance.

As Virgin is set to launch Virgin Galactic next year, entrepreneurial German company Allianz has come up with an insurance policy to cover the “ordinary astronauts’” luggage and person, among other assets and liabilities. As the civilian space flights cost $200,000 a seat (for a five minute voyage to see the curvature of the Earth), they no doubt found a market wealthy enough to afford the premiums.

3. Paternity Insurance.

For those dads who refuse to be dads. Easier than keeping it holstered, paternity insurance pays out in the event that the insured accidentally impregnates someone, who later files a paternity suit. Lloyds of London covered David Lee Roth, Van Halen front man. Apparently he gets letters all the time saying, “I got a kid and it looks like you and it needs a bicycle now and some pencils and a notebook.”

2. Japanese Crabzilla Insurance.

Unlike Godzilla, Crabzilla exists. It’s the name given to the 10-foot long spider crab at the Birmingham Sea Life aquarium in the UK. The giant crab is, according to the Sea Life officials, not aggressive and visitors have nothing to worry about. The $1.5 million insurance policy protecting them against a visitor’s death or disability sends a mixed message though.

1. Horse Erectile Dysfunction Insurance.

People can make millions on a racehorse winning a single race. Horse owners can make even more from it’s potential offspring. More than just a life insurance policy for the racehorse, some insurers offer to underwrite the nethers too in a comprehensive standalone policy. This insurance pays out if the horse, in otherwise perfect condition, cannot breed.

We might not be able to offer impotent horse or bastard kid policies, but we can get you a range of other liability and asset insurance policies. Just fill in our online form. An Insurance.co.za representative will contact you shortly.

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