Insurance affects-and protects-virtually all the most fundamental parts of our lives here in Florida: home, health, transportation, and even work. Most of us are obligated to earn a living in some way, and, for some of us, work-related matters can lead to some unusual insurance policies and claims. Sure, if you're a professional musician in an orchestra, you might want to insure your bassoon, but in what circumstances would you ever need to insure your behind?
Body Part Insurance
Body part insurance may be suitable for anyone whose physical traits enable him or her to earn an income. A professional baseball player may want to ensure the arm that he uses to pitch. A trombone player may insure the elbow she uses to move the slide back and forth. Actress Jennifer Lopez famously insured her derriere-which helps to, ahem, elevate her celebrity status and therefore serves to generate some income-for a whopping one billion dollars. Singer Bruce Springsteen insured his voice, Dolly Parton her breasts, and model Heidi Klum her legs. An Australian cricket player named Merv Hughes even insured his mustache, which is a big part of his image. Which part of your body do you rely on in order to do your job and bring home the bacon? Have you ever considered insuring it?
Blast from the Past
In 2010, a retired police officer that was shot in the chest by a sniper while on the job some 32 years earlier received a $350,000 settlement. The former cop claimed he had been suffering from post-traumatic stress disorder for decades as a consequence of the shooting. Even though he sought compensation so many years after the event took place, a city council voted to approve his settlement. Makes you think back to injuries you might have sustained on the job years ago (like that time you bonked your head while getting into the pizza delivery vehicle)...would you dare to try to cash in on them today?
Key Person Insurance
This is a type of business insurance that enables business owners to take out policies on their employees. If a business employs a very crucial person on whom it relies heavily, and that employee dies, the business receives a payout. Employees must give permission before such policies can be created for them. This type of coverage may be suitable for employees who wield great influence over the financial health of the companies that employ them. Imagine being so important at work that your company insured you!
For more information about the more unusual varieties of insurance coverage, contact Insurance Wagon today.