Weird Types of Insurance You Never Knew Existed

If the last few years have thought us anything, it’s that you never know what life is going to throw at you. Everyone wants to be covered when life takes those unexpected twists, which is why people insure things like their cars, homes and even health. But would you insure yourself against an alien abduction?

We’ve done some research here at yallacompare. Some of these policies have made us laugh uncontrollably, other had us outright mind-blown. But, unusual insurance policies like these are very much real. So if you want to find out some of the world’s weird types of insurance, please keep reading.

The Winners of Weird Types of Insurance Policies 2022

You might have heard some stories of unusual insurance claims in the past. You’ve probably wondered if the story was even real, or was it kind of like telling your teacher that the cat jumped through the window and stole your homework? With so many crazy claims knocking around out there, it can hardly come as a surprise that the insurance companies have decided to accommodate some of these claims. I mean…if people want to pay it, who’s stopping them?

Today we present to your some of the strangest policies we’ve found. We’d recommend you hold onto your seat, because it is a whirlwind to say the least.

7. Wedding Insurance

In recent years, weddings have become more of an event than a celebration. This is reflected in the price too with the average cost of a wedding in Dubai ranges from $81,000 (Dh300,000) to $136,000 (Dh500,000). As a result wedding insurance has actually become  popular all around the world. While it still lands on our list as one of the weirdest types of insurance, we understand the necessity.

The list of things that could go wrong is hard to think about. From the brides dress getting ruined, to unforeseen events cancelling the big day. Some policies even cover if your partner changes their mind. It’s known as ‘change of hear’ or ‘cold feet’ policy. What’s awkward about this policy though, most companies make up claim one year before the big day. Which unfortunately, doesn’t tend to be when things go wrong.

6. Divorce Insurance

If you have one, you have to have the other right? Prenups are very much still alive and well. It can be hard for people to even consider what would happen if you were to divorce. At the time of creating a prenup, you’d never imagine needing one. But no matter how much you do love your partner, protecting yourself is always a good idea. A prenuptial agreement or a prenup is a contract between you and your partner created before your marriage.

Researchers estimate that 41 percent of all first marriages end in divorce. With a whopping 60 percent of second marriages end in divorce. Looking at the figures, you can never be too safe!

5. Body Parts Insurance

To ease you into the list we have one you might be familiar with. Don’t get us wrong, if a particular body part is your livelihood, then by all means insure it. For a footballer or guitarist, this is absolutely natural. If some disaster struck then they would be out of work. But, as we all know some people take things to the extreme.

  • Laughable Legs Insurance

We can justify David Beckham insuring his legs (albeit $195 million does seem a bit excessive – but who’s judging?). However, can someone please explain to us why Mariah Carey’s legs are insured for $1 billion.

  • Humorous Hair Insurance

For many people their hair is a symbol of confidence for them. Most of us fear losing our hair, but insuring it? We imagine very few of us will go to these lengths. But there are people out there who place enough value on their body hair to insure their mustaches, beards, and even their chest hair! Tom Jones is possibly one of the most famous examples, insuring his chest hair for $7 million – where did he think it was going?!

Even though Tom Jones is old now, he was a sex symbol once. He got his chest hair secured for almost $7 million. When wearing unbuttoned sexy shirts, fans were plucking out his hair. He believed that it was a contribution to his charm.

The Aussie cricketer Merv Hughes was famous not only for his cricket skills, but also his handlebar-style mustache. During his cricketing days he had this famous tash insured for $370,000.

Are you wondering who supports all these weird insurance claims? It’s Lloyd’s of London, an insurance company, which also insures gentlemen’s beards from fire and theft. Now, we can only wonder how one can possibly steal your beard?

4. Multiple Birth Insurance

Times have changed to previous generations, more families are planned now. This is mainly down to the effect having children can have on your bank account. Parents are conscious of being financially stable enough to take care of their kids. Having one child can really increase your expenses, but imagine the surprise of having another two or three? Especially if you aren’t financially prepared for it. For this reason, some parents who find out they are expecting take out insurance as early as possible so that they can receive coverage.  

3. Fantasy Football Insurance

We bet you know someone who spends too much time playing Fantasy Football. After all there is about 60 million people around the world who play it. With an average of $556 per year spent per member. Some members would jump at the chance to get this kind of insurance. The policy covers if your player gets injured for example. If it so happens that your athlete is unable to play a few games games you may be able to get your funds reimbursed.

2. Ghost Insurance

Hard to believe right? There are multiple insurance companies across the world the provide ghost insurance in the event that a person experiences a loss caused by the paranormal activity. There are plenty of paranormal enthusiasts out there and maybe even just some paranoid home owners that have invested in this kind of policy which can provide up to $1,000,000 in coverage. All you need to do is prove that you were attacked by a supernatural being.

A few years ago, insurance provider paid $100,000 in claims as investigators concluded that a ghost was really responsible for the death of the woman thrown over the banister of her home.

We’re not saying we believe in paranormal activity, but there seems to be a very real market for this insurance.

1. Alien Abduction Insurance

But to top the list we have to put Alien abduction insurance policies. Yes, these policies are very real and there are people that have purchased them! Over 30,000 to be exact, But it seems like a bit too much work to get a benefit of this insurance as you not only will need to get abducted by aliens, but return in one piece and prove that you were abducted with some sort of photographic proof.

However, some insurance companies sell this for just about $10 and the benefit? A massive $10 million… to be paid out $1 every year for 10 million years – still worth it?

We hope you’ve enjoyed this list as much as we enjoyed making it, not sure we’ll be selling paranormal insurance anytime soon, but we hope this at least gives you peace of mind. If you ever thought you were being overly-cautious taking out an unusual type of insurance, just remember that there are much weirder policies out there!