Three Weird Types of Insurance You Never Knew About

Golf tournament hole in one insurance

When you hear the word “insurance” you typically think of health, home owner’s, and auto, but believe it or not, there are several other types of insurance, too. Here are a few other weird insurance policies you may not have known about.

Riot Insurance.

Thailand is a beautiful place, and an incredibly popular tourist spot, but it can get a little dicey, which is why the government offers tourists insurance policies in the event of a riot. Covering up to $10,000, the insurance is meant to attract people who may have been scared off by the country’s political turmoil.

Alien Abduction Insurance.

Yes, you read that right. There’s such a thing as alien abduction insurance. More than 20,000 people in the U.S. have actually invested in it, too. Most surprisingly, though, is the fact that one man insured himself for $1.5 million against the threat of abduction or even consumption by extraterrestrial forces.

Hole in One Contest Insurance.

Hole in one tournaments are pretty simple. You make a hole in one on a designated hole, you get a big prize. If no one makes one, no one wins the prize — an extraordinarily likely scenario. However, should someone defy the odds, the tournament organizers may be forced to offer a prize that’s worth more than what they make from the proceeds. For this reason, many competition organizers take out contest insurance. For a small premium, contest insurance providers will cover the cost of a prize in the unlikely event that someone wins. This means that someone can win a car, Hawaii vacation, or other fabulous prize, and the contest insurance policy holder will never have to pay a penny for it.

Whether it’s a riot, an alien abduction or a hole in one competition, there’s an a type of insurance for that. If you have any questions about things like contest insurance, feel free to ask in the comments!

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Dan

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