From Wikipedia, the free encyclopedia
Insurance for small, low-demand areas
Niche insurance
is
insurance
provided for small, low-demand markets. It is outside of the usual insurance types available, such as
automobile
,
home
,
life
,
travel
, and
business
insurance, and can be very difficult to obtain.
[
citation needed
]
A few examples are:
- Insurance for drivers with convictions, often referred to as
Assigned Risk
Car Insurance
[1]
- Home Owners Insurance
for those owners who have previously made a large claim
[
citation needed
]
- Professions which are unusual (
piano tuners
) or high risk (such as
scaffolders
)
- Temporary event insurance (
fetes
, live music events)
- Body-part insurance, for people whose livelihood depends on the state of a particular part of their body, such as actors' legs or noses
[2]
- Kidnapping of key corporate executives
[3]
- Hole-in-one insurance, for
country clubs
or other venues hosting golf tournaments with large cash prizes for a
hole-in-one
[4]
- Alien abduction ? the first company to offer UFO abduction insurance was through the St. Lawrence Agency in
Altamonte Springs, Florida
;
[3]
Reports by
GEICO
insurance (which does not sell alien insurance policies) and by
The Daily Telegraph
state that one English company has sold over 30,000 policies
[5]
[6]
- Death or disability caused by supernatural phenomena, including ghosts and poltergeists
[3]
In these circumstances, a specialist insurer is required for these
niche
areas. The specialist may have expert knowledge of the particular risk or can provide policies which have been tailored to fit the need. Often, approaching others with similar circumstances in
internet
forums, associations or competitors in the same trade can help track down these niche products.
[
citation needed
]
Several celebrities and
porn stars
have had their
penises
underwritten in amounts exceeding one million dollars, including
Van Halen
frontman
David Lee Roth
,
[7]
and pornographic actor
Keiran Lee
[8]
? both of whom had their penises underwritten by
Lloyd's of London
, also known for insuring other body parts including the
vocal cords
of
Bruce Springsteen
.
[9]
In 2000, three sisters from
Inverness
took out a
£
1 million insurance policy to cover the cost of bringing up the infant
Jesus Christ
in the event of a
Second Coming
and
virgin birth
. The company that provided this policy,
Braintree, Essex
-based company
britishinsurance.com
, withdrew the cover in June 2006, stating that
Catholic
groups had complained.
[10]
References
[
edit
]
- ^
Lynch, Ava (6 November 2021).
"Does a Felony Affect Your Car Insurance?"
.
Archived
from the original on 6 November 2021
. Retrieved
6 November
2021
.
- ^
"20 Celebrities Who Insured Their Body Parts For Millions"
.
businessinsider.com
.
Archived
from the original on 5 April 2018
. Retrieved
5 April
2018
.
- ^
a
b
c
Haddock, Vicki (18 October 1998).
"Don't sweat alien threat"
.
San Francisco Chronicle
.
Archived
from the original on 24 September 2015
. Retrieved
15 August
2015
.
- ^
"The strange business of hole-in-one insurance"
. 29 April 2022.
Archived
from the original on 18 August 2023
. Retrieved
14 June
2023
.
- ^
Erb, Nathan.
"Unusual Insurance Policies"
.
Geico
. Archived from
the original
on 22 January 2014
. Retrieved
December 1,
2014
.
- ^
"Do you really need alien insurance?"
,
The Daily Telegraph
, June 28, 2000,
archived
from the original on April 13, 2018
, retrieved
April 12,
2018
- ^
"David Lee Roth Took Out Insurance Policy For His Penis, 'Little Elvis,' With Lloyd's Of London"
. 28 March 2013.
Archived
from the original on 23 August 2017
. Retrieved
5 April
2018
– via Huff Post.
- ^
"
"Porn star insures penis for $1 million" Global Post"
.
Archived
from the original on 2016-03-05
. Retrieved
2018-04-05
.
- ^
"9 Odd Things Insured by Lloyds of London"
.
howstuffworks.com
. 14 September 2007
. Retrieved
5 April
2018
.
- ^
"Sisters lose second coming cover"
.
BBC News
. 22 June 2006.
Archived
from the original on 13 March 2012
. Retrieved
11 August
2023
.