Welcome back as we explore insurance policies’ most strange, odd, and mystifying aspects! While most of us understand the fine print on any major purchase with a required insurance policy, some scenarios continue to be less explored and more exciting.
Below you’ll find the second half of our list of strange things people have insured over time…
Bed Bug Insurance
Most people assume that their homeowner’s or renter’s insurance will cover anything that goes wrong on said property, only to be disappointed when they make a “non-covered” claim.
Unfortunately, a lot that needs more coverage in a standard homeowners/renter insurance policy can go wrong. For example, treating a bed bug infestation costs the typical homeowner around $2,000. This type of cost could quickly spike if you own an apartment building.
Lottery Insurance
The odds are not typically in anyone’s favor when it comes to winning the lottery. Still, if by some chance you are part of a winning office syndicate, your boss may undoubtedly have the odds stacked against them – particularly if they’re expecting their employees to show up to work the next day. Lottery insurance protects against the cost of an employee suddenly quitting due to winning the lottery.
Ghost Insurance
The term “ghost policy” has various definitions. For example, while ghost policies often refer to situations where businesses or entities try to cheat their way out of proper workers’ compensation coverage, some insurance companies have actual “ghost insurance” policies.
But what exactly does that mean? Ultimately, these ghost insurance policies protect you from loss or damage created by actual spirits.
Multiple Birth Insurance
What happens when a mother delivers two babies instead of one? In this instance, something like multiple-birth insurance can be of great value to you. An extra baby is no small responsibility or addition to your family. If you are insured, your policy can pick up the check regarding the unplanned costs of your surprise family addition.
Many of these insurance policies seem unrealistic and absurd to the average person. Still, it’s critical to remember that insurance is mainly about protecting yourself and avoiding severe life disruptions.
Receive Expert Insurance Advice in Ohio
To protect yourself and your financial responsibilities, it’s important to purchase an insurance policy that satisfies the state requirements in Ohio. The team at Bill Palmer Insurance has the experience and knowledge you need adequately protect yourself, your family, or your business.
Contact us for a free quote at 740-687-5733 for more information regarding our local insurance services.
Featured image by Unintended Concept.