When most people think about insurance, it is typically related to health, employment, vehicles, or a home. We know insurance is crucial to protect ourselves and our finances. What if we told you that you would be surprised (and amused) to learn that insurers are willing to cover far more than that pretty quickly?

Below, we’ve compiled a list of strange things people have insured over time…

Alien Abductions

Did you know you can buy an insurance policy that is out of this world and protects you against losses due to alien abductions? While it’s a policy that exists, it’s intended as a joke, which should be obvious from its terms, some of which specify it will pay out your $10,000,000 benefit at the rate of $1 a year for ten million years.

Weddings and High-Stake Events

Planning and paying for a wedding is pricey. Other high-stake events, like bar and bat mitzvahs, Sweet 16’s, graduations, and milestone birthday parties, can be costly. Suppose you plan to invest a big chunk of money into any event. In that case, it is vital to consider purchasing insurance if things go wrong, damage to the venue, injuries to guests, or cancelations.

Landscaping

Your homeowner’s insurance usually covers your home’s landscaping. Therefore, standard policies are essential and cover the bare minimum. But, suppose you have premium materials or exotic plants or plan to invest significantly in custom plantings. In that case, you can likely buy a separate policy. A natural disaster can destroy your plants and overall landscaping investment, costing you lots of money.

Valuable Team Members

If you lead or own a business that relies on a small but mighty team, you can ensure your bottom line against losing that person(s). Still, how does insurance become beneficial in these instances?

Key Person Insurance is the go-to, but it requires that you demonstrate a material loss related to the death, unexpected retirement, or other loss of that employee or partner. Thus, this insurance is for you if you’ve ever felt panicked about losing a particular employee. As odd as it may seem to purchase insurance in case of the absence of a worker, this type of insurance can save your business from unpredictable tragedy.

Need Additional Ohio Insurance Advice?

Insurance is always a good idea – and if a possession or situation is valuable to you, it’s worth investigating whether or not you can insure it. At Bill Palmer Insurance, we have the experience and knowledge to guide you through this process.

Contact us to learn more about the variety of insurance solutions we offer for Lancaster, Logan, and Canal Winchester. Our agents are ready to provide you with a personalized insurance quote and more information.

Featured image by Unintended Concept.