Overlooked insurance policies are lurking out there, outside of the eyes of most of us. While we’re busy focusing on the usual types (auto, home, etc), there are plenty of others that cover all kinds of interesting things.
This topic came to mind after hearing about a car dealership that ran a promotion which was based on the local pro football team shutting out its opponent this past weekend. The team did in fact end up giving up zero points, and the dealership apparently had payouts that would be due to lucky winners of the contest run during the prior week. As in, payouts totaling over $400,000.
Apparently, per this article on ESPN, the insurance policy taken out cost about $7,000. Seems like it may have been a smart move!
Insurance can be taken out for many different possible events. While there are innumerable polices that have probably been issued, here are 5 that are non-mainstream but worth knowing about. Even if for curiosity’s sake!
If the jewelry that you have is of modest value, you might not need to pay any extra attention to insurance. However, if it’s of high value and worth more than general coverage you already have, it’s a different situation. In this case, you might consider an add-on policy or rider for the specific pieces of jewelry in question. Nobody wants an expensive heirloom or wedding ring to be gone forever with no recourse.
Identify Theft Insurance
The costs associated with dealing with identify theft can add up, as it’s not a cost-free activity when getting things restored. This insurance can help with such expenses. It’s a good idea to pay attention to how the coverage is marketed, as some of the high dollar amounts may not be entirely necessary.
We’ve seen in recent years how water-related disasters have wreaked havoc with people’s lives across the globe. Hurricanes, tsunamis, and even raging rivers have created big problems that often involved tragic outcomes. While much less serious, water damage to property can still be a problem for people.
In the winter and spring, this can come into play with melting snow. If water enters your home that way, it might be necessary to get this separate insurance rather than depend on standard homeowners insurance. Keep in mind that there might be a decent waiting period for the policy to take effect, so waiting just a few days before an anticipated event might be an effort made in vain. Being proactive is key.
Nobody wants to see their wedding day get impacted by unforeseen calamities. Weddings cost a lot of money, and involve a lot of time and emotion. Of course, things can and do happen.
What if the bride or groom suffers a major injury? What if the venue shutters its doors, unexpectedly closing? What if a natural disaster strikes the area of the wedding? These are reasons why some people might be tempted to consider wedding-related insurance.
Everyone I know wants to enjoy his or her vacations. That’s the purpose, right?
Well, when you’re away from home and particularly if you’re in an unfamiliar setting, there is some risk involved. It wouldn’t be fun to get seriously ill in some remote locale, or get hurt hiking the mountains. It would also be less than fun to have to deal with the financial ramifications.
Of course, there are other aspects of traveling that involve risk – such as cancelations, interruptions, and like events. More reasons to at least explore travel insurance for some voyages.
My Questions for You
Aside from the traditional policies (health, home, care, life, etc.), have you purchased any other types of insurance policies?
Have you ever purchased any of these type of insurance policies listed above?
Do you tend to be insurance-oriented, or is it an area you don’t spend much time thinking about?