By David DeMoss
Insurance is crucial in all types of scenarios, especially the ones that are almost too bizarre to believe. With that being said, insurance professionals see their fair share of unbelievable moments. Here’s PropertyCasualty360’s list for the top 10 most bizarre insurance claims:
10. Find my iphone
A livestock farmer in the United Kingdom filed an insurance claim on his iPhone, which he lost one night helping one of his livestock give birth. He claimed the phone disappeared in the cow, and the insurance company paid out the claim in full.
9. Heads up
Because falling coconuts kill 150 people worldwide a year, the Travel Agency Club Direct decided to include injuries by falling coconuts in their insurance policies. While there are no reports that anyone has filed a claim through Club Direct related to coconut injuries, a police officer was awarded $39,000 after being struck in the head by a falling coconut while removing fronds from a public sidewalk.
8. A hairy situation
Most people don’t think their chest hair has any particular value. Singer Tom Jones does, however, to the tune of $7,000,000, which Lloyds of London agreed to issue an insurance policy for.
7. expensive taste
Since his taste buds are crucial to his livelihood, food critic Egon Ronay decided to insure them for $393,000.
6. lost at sea
Travel insurance is very helpful if you lose baggage while traveling, but what about for dentures? One man filed a lost baggage claim to his travel insurers over lost dentures, which fell out while vomiting over the side of a cruise ship while on vacation. His insurer complied.
5. gone with the wind
If you believe in aliens and fear being abducted, Alien Abduction insurance can be purchased from the St. Lawrence Agency in Florida. In the event of an alien abduction, if you can prove you’ve been abducted, the company will pay you $1/year until death or for 1 million years.
4. promotional coverage
Having coverage for events and promotions can certainly be necessary for a number of reasons. One jewelry company in North Carolina offered to refund $500,000 in sales if the city got more than three inches of snow on Christmas Day. Their insurance helped out as Wilmington, N.C., saw eight inches.
3. unusual assets
The rules sometimes don’t apply when you’re famous. In the case of Jennifer Lopez, social norms don’t apply since she has an insurance policy in the amount of $27 million dollars for her rear.
If you conceive more than the one baby you planned, Lloyds of London can help with Multiple Birth Insurance, which covers the financial impact of more than one baby. One couple collected after having twins, purchased the insurance again and ended up having another set of twins.
1. Burglary Mishaps
Few people would get homeowners insurance with the notion to protect them from mental anguish after a burglar failed to escape. While on vacation, a burglar robbed a home and ended up locking himself in the homeowner’s garage. After being trapped for a week and escaping when the family came home, the burglar filed an insurance claim against the owner for mental anguish. He was awarded $1 million.