What if your "all-risk" insurance actually covered every conceivable future risk?
If they did, you might be able to find some of the weird insurance policies found below. Of course, you'd have to have a truly soft market to find – let alone place – some of these coverages…
When the magic doesn't last
Ever had clients walk in the office looking like they could have used some divorce insurance?
Some insurers do in fact offer divorce insurance to jilted spouses. The policy covers a situation in which the insured's partner walks out the door and files for divorce, but divorce was never the insured's intention.
Naturally, the insurance companies offering the coverage do include safeguards in the policy. One is that the couple has to be married for a minimum number of years before a split-up.
Now you can sleep comfortably at night even if your spouse abandons you without notice.
Insurance can cover all kinds of improbable events – including unexpected births.
Imagine an expectant mother being told she was going to have one child. The big day comes and suddenly she finds two babies in her arms – or triplets.
"Whoa," she might say, "how am I ever going to feed all of these babies I wasn't expecting?"
No worries, there's an insurance policy for that. The policy covers financial support for additional costs incurred as a result of having more babies than one initially expected.
Life cycle of the policy
Well, here I am reincarnated as a rat. How disappointing! Looks like it's time to collect on my reincarnation insurance
Yes, that's right, coverage is available for being reincarnated into something undesirable in the next life, such as a rat. Or perhaps your financial situation in your second life is less than ideal.
Reincarnation insurance has been designed to compensate you for these unfair placements.
The only issue with collecting on the policy is that you would have to remember as a rat that you took out an insurance policy in your past life as a human.
Secondly, there's the identification issue: an insurer would have to know that the rat they see now on the street corner is the same human being to whom they just sold a policy in your past life.
Finally, as a rat, are you going to be able to bank the insurance cheque?
No laughing matter
"That's so funny, I almost died laughing."
Back in the early 1900s, if you had died laughing, you would have been insured for that.
Certain insurers at the turn of the 20th century offered death-from-laughter insurance. Specifically, they offered moviegoers an insurance policy that covered them for the event that they would die from exhaustive laughter while watching a film.
This may seem ridiculous now. But the truth is, if some of us walked out of the theatre under a full moon after watching Twilight, we would be covered by insurance for turning into a werewolf.
You quit? No problem…
What happens when your five-time, award-winning Employee of the Year quits your business?
Those who recognized the worth of the employee in advance may have found themselves some "star employee" insurance. Basically, if you lose your star employee because they quit, then this insurance policy will give you a payout in an attempt to make up for the financial loss you'd incur without your Number 1 employee around.
Not surprisingly, not many insurers offer this kind of coverage.
Source: Insurance Business