The world of insurance is a confusing one, let’s face it. In the past there were just a handful of insurance types, namely car, home and life. There were a few other periferary types, like travel, but these didn’t really take off in quite the same way until people started travelling more.
Now it seems there’s an insurance policy for everything. These days you can get insured against being kidnapped, against nuclear incidents or against earthquakes. And you can insure anything – art, any kind of pet, even body parts.
The following is a rundown of my favourite insurance types:
Body Parts Insurance
You may think this is only for celebrities, it’s not. If you rely on your body as a way to earn an income (perhaps models, performers, musicians, artists and minor athletes) then you might be interested in this unusual insurance type.
The policy essentially covers you if you are damaged as the result of an accident in your prized area, and unable to earn an income as a result.
Of course if you are a celebrity, you can still insure your body parts, as Mariah Carey was previously rumoured to have done, along with a lot of other celebrities.
Your insure your dog or even your cat, so why not your rabbit? This is the question rabbit-loving bloggers Bunnycover ask, with their list of UK rabbit insurance companies.
Although it’s still a relatively new idea, and there are only three companies that currently provide cover for rabbits, the idea is taking off. Especially now that Britain is getting more involved in rabbit show jumping, with hopes to beat off inventors Sweden in the future.
Well, considering the cost of an iPhone, this one actually makes a lot of sense. What many don’t realise is that should you lose your iPhone, break it or damage it, you’re responsible for paying for the cost of a new one.
Unfortunately iPhones do get broken and lost quite a bit, at least according to gadget insurer Protect Your Bubble who revealed that iPhones get stolen, left on the roofs of cars, stolen from handbags and even dropped from hot air balloons or lost while sky diving.
There are currently a handful of insurance companies, most specialist gadget insurance companies, who insure iPhones and other smart phones, although the demand is definitely there for more.
These are but a handful of some of the niche insurance policies out there. And even though we’re in a recession, or a financially dark period at worst, there seems to be no shortage in the number of new and niche insurance policies popping up as the demand is uncovered.