5+ weird and wacky insurance policies

Here at Old Mutual iWYZE, we get our fair share of strange requests. Luckily for us, we stick to the basics like comprehensive car insurance, home insurance, life cover and gap cover… and nothing as exotic as paranormal insurance or body parts. 
Just for fun we look at some of the strangest insurance policies ever issued. While the authenticity of these tall tales can’t always be verified, they sure make for interesting reading! 

#1 Body of evidence
Many celebrities rely on their natural assets. Throughout the decades there have been several weird and wacky insurances policies to protect them… and on some of these the premiums must have cost more than just an arm and a leg! 

  • Heidi Klum’s legs are insured for $2,2 million. Strangely enough, it’s reportedly not an equal split – because of a small blemish, Heidi’s left leg is covered for “only” $1mil, while the right is insured for a cool $1,2m. 
  • It’s not unusual to find out that singer Tom Jones’ trademark chest hair is covered for almost $7 million dollars. Or maybe it is just a tad unusual… 
  • Aussie cricket legend, Merv Hughes, insured his iconic moustache for about $400 000. 
  • Ever heard of Harvey Lowe? Neither have we. Harvey was the world yo-yo champion in the 1930s and his hands were insured for around $150 000. That’s about $2,1 million in today’s terms. 

#2 Have you seen Nessie?  
Scottish whiskey maker, Cutty Stark, has a standing offer to pay out £1 million (that’s over R17 million!) to anyone who can capture the famed Loch Ness monster alive… and an insurance policy in place to cover the prize money just in case anybody ever manages to do so. Part of the conditions are that the underwriters would get to keep Nessie, should they ever have to cough up the insurance pay-out. 

#3 Soccer-surance
Pay attention if you’re looking forward to the 2018 FIFA World Cup! 

In 2006, an English football fan took out a £1million insurance policy to cover “severe trauma” in case the England squad crashed out of the cup early. They made it through to the quarters, and the claim was left unpaid. Interestingly enough, the policy cost Paul Hucker a measly £100 plus £5 pounds in tax. Those were better odds than most bookies would offer!

 #4 Bad Santa
In 2001, a Brit by the name of Andrew Areoff insured himself against the possibility of receiving bad Christmas presents to the value of £1 million. Better tell grandma to think twice before giving you another pair of socks this December. 

#5 Oh my ghost!
Paranormal insurance is actually a thing. It’s known as “Spooksafe insurance” and underwritten by a company called Ultraviolet. A spooksafe policy compensates against injury or death caused by ghosts, poltergeists, or other paranormal phenomena. Plus, it includes a claim payment should you be turned into a werewolf or vampire. 


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While these tales speak to the lighter side of insurance, not having the right type of cover in place when you need it most is no laughing matter. Old Mutual iWYZE offers affordable, comprehensive and reliable car, home and life insurance (nothing against the zombie-apocalypse, though!). Make the wise insurance choice and GET A QUOTE today. 

Underwritten by Old Mutual Insure Ltd (FSP12), an authorised FSP. Risk profile dependent. T’s & C’s apply. 

Sources:
https://io9.gizmodo.com/that-time-lloyds-of-london-insured-the-loch-ness-monst-1629599642 
http://news.bbc.co.uk/2/hi/uk_news/england/suffolk/4968092.stm 
https://usinsuranceagents.com/unusual-insurance-policies
https://www.pacificprime.com