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 layperson, 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 personalized coverage at a competitive price, while they’re there when you need a claim.

This article serves to present the other side 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 score higher on insurance, 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 their official cupper would maintain his excellent sense of taste, so they bought a $10 million policy to that effect!

• Presenting the bride with an expensive diamond engagement ring is a tradition that is based on protection. A form of insurance, so to speak, the expensive ring would be his to keep as compensation in case the groom regretted marrying!

• Playing golf in Japan becomes an expensive undertaking if he turns out to be the winner, forcing him to throw a celebration and sponsor expensive alcoholic beverages for his fans. Golf professionals often choose to purchase insurance in the event they win to cover “damages.”

• If you want, you can buy 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 damage in the event 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 keep the water out!

• 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.