Insurance policies: strange but true

Choice has come across a range of more unusual insurance products on the market:

Kidnap and ransom/extortion insurance

Policies for kidnapping, ransom and extortion are available in Australia. They're mostly sold to well-heeled individuals (and corporations) who might be the target of such activities.

Mugging and car-jacking

Available to families in the USA as family protection insurance. This covers you for direct and incidental costs from crimes such as home invasions, child abduction, mugging and car-jacking.

Body parts

If you think some part of your body is essential to your earning capacity, contact an insurance agency. You might be able to insure it. Celebrities have reportedly insured specific parts of their body: Jamie Lee Curtis insured her legs, Bruce Springsteen his voice and Liberace his hands.

Weddings

They can be really expensive, but nothing will compensate for a broken heart. Cover provides financial protection if you have to cancel or postpone the happy day.

Alien abduction

It's the stuff of urban legend. The UFO Abduction Insurance Company will insure you for $US10 million for medical, psychiatric and "sarcasm" costs arising from alien abduction. Simply complete the "Proof of abduction and return" form. But, be warned, they pay out at only $1 a year. International insurer Hiscox will insure you against any calamity arising from a more conventional attempt at space travel.

For the complete story see Money Magazine's November 2006 issue. Subscribe now.

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