People around the world purchase insurance to protect themselves against unanticipated accidents and disasters that can lead to financial ruin. Mortgage companies can require homeowner's insurance to buy a house, but most insurance policies aren't mandatory. More than 91% of Americans have health insurance, an estimated 95% of homeowners have home insurance, and 59% of people have some form of life insurance.
Besides the most common policies like health and life insurance, people are insuring their most valuable assets, but those assets may not be what you expect. In 2006, David Beckham reportedly took out one of the largest personal insurance policies of any sports player when he insured his legs and feet for $195 million. Cristiano Ronaldo later followed suit, insuring his legs for about $144 million.
To insure one's legs requires a niche insurance market. Famed insurance company Lloyd's of London is an insurance and reinsurance market that is known for its unusual and outrageous policies. Lloyd's has worked with athletes, celebrities, pioneers, and more to insure monkeys, space satellites, and even their clients' smiles for decades. Despite how unique the policy is, the goal remains the same: To protect against undue or unexpected financial disasters.
To uncover other surprising insurance policies, the analysts at Stacker scoured the web to compile a list of 15 insurance policies you didn't know existed. The list is ranked in alphabetical order and covers some of the craziest insurance policies offered to clients around the world.
While some policies on the list protect uniquely valuable assets, other policies are based on science fiction. From insuring unusual body parts to protecting couples' broken hearts (and wallets), check out the 15 insurance policies you didn't know existed.