Insurance facts you may not know

Arguably, formal insurance coverage has been around for individuals and businesses since the late 19th century. However, to the layman, not everything in a homeowners, auto, property and commercial policy is what it seems.

On a practical level, it’s important to meet with an experienced, independent agent to review your needs, explain options and plans, and search the web for competitively priced personalized coverage, while being there when you need a claim.

This article serves to present the other view of insurance: fun facts that will pique your interest and ease the seriousness of life, while perhaps offering opportunities you never thought existed.

Guess what?

• While most people realize that a good driver will have a better insurance score, leading to cheaper premiums, certain professionals, such as teachers, accountants, engineers, and nurses, also fall into a category of “high probability” to drive carefully and avoid accidents.

• There is a form of insurance for (of all things) alien abduction!

• Some coffee company executives wanted to be sure that their official cupper would maintain his excellent sense of taste, so they bought a $10 million policy to do just that!

• Presenting the bride with an expensive diamond engagement ring is a tradition built on protection. A form of insurance, so to speak, the expensive ring would be his to keep as compensation in case the groom ever regrets getting married!

• Playing golf in Japan becomes an expensive undertaking if you happen to be the winner, forcing you to throw a celebration and sponsor expensive booze for your fans. Golf professionals often choose to purchase insurance in the event they win to cover “damages”.

• If you wish, you can take out life insurance if you fall into a fit of laughter that kills you!

• A famous circus insured its rhinos and elephants so they could cushion the damage in case of illness or death.

• Question: Who insures traveling international athletes? Answer: They obtain coverage from insurance companies in their home country as well as in their host country.

• When an avid sportsman chose to swim across the English Channel in a bathtub, he purchased insurance from a company that took the risk with one stipulation: the bathtub needed a stopper to prevent the water from showing!

• If you’re looking for a new vehicle on the market, keep in mind that statistically there are more collision claims associated with a 2-door car.