2 Weird Insurance Policies

Life, home and auto insurance are all common-sense policies that everyone should have to protect themselves and their families. But these common forms of insurance are far from the only types available. What you might not know is that there are policies that protect you from less common occurrences like hauntings and alien abductions.

Protection against the paranormal

The Royal Falcon Hotel in Lowestoft, Suffolk, E England, earns high marks from reviewers on Google for its atmosphere, friendly staff and karaoke on the weekends. It’s also one of the few places in the world that’s insured against paranormal activity. Per a BBC story from 2002, the building is said to be haunted by the ghost of a monk who hanged himself. Owner Terry Meggs claims that he saw glasses shoot across the bar one evening, presumably guided by a spectral hand. This event led him to turn to Ultraviolet, a United Kingdom insurer who offers something known as Spooksafe insurance.

According to the BBC, Spooksafe insurance carries an annual premium of 500 pounds and pays out 1 million pounds. The condition for payment: If an employee or patron is injured or killed by a supernatural entity like a ghost or poltergeist. In its article, the BBC says that Ultraviolet once paid out a 100,000-pound settlement when the falling death of a woman in the United States was determined to have been caused by a ghost. Ultraviolet’s chief underwriting officer at the time, Simon Burgess, told the BBC that the company treats claims seriously and conducts “normal” psychic investigations.

Protection against the extraterrestrial

If you are concerned that you may one day be pulled aboard an unidentified flying object, you could opt to protect yourself with alien abduction insurance. According to The Balance’s Mila Araujo, common components of alien abduction insurance policies include coverage for medical care — both physical and psychiatric — and cash settlements if you are left hosting an alien entity in your body.

One former provider of alien abduction insurance is Goodfellow Rebecca Ingrams Pearson, who according to the Los Angeles Times sold a policy to the members of the Heaven’s Gate cult in 1997. Managing director Simon Burgess — the same Burgess from Ultraviolet — said that the brokerage had sold 4,000 policies but never had “a genuine claim for alien abduction.”

However, the Saint Lawrence Agency of Altamonte Springs, Florida, still offers its $10 million alien abduction insurance policy to this day. According to Newsweek’s Jason Murdock, founder Mike St. Lawrence noted an uptick in policy sales during the 2019 viral event involving Area 51. Selling digital plans for $19.95 and paper versions for $24.95, St. Lawrence confirms that he has fielded two claims since 1987, one of which he granted. That claim is currently being paid out at the rate of $1 per year for 1 million years.

According to Newsweek’s Scott McDonald, the All-England Lawn Tennis Club paid a $2 million premium every year for 17 years to protect against the cancelation of the annual tennis tournament in Wimbledon due to a pandemic. With the cancellation of the 2020 event, the club is set to receive a policy payment of $141 million — more than $100 million what it paid in. While alien abductions and paranormal activities may not be concerns, it’s important that you and your family consider areas where you might need protection from the unexpected. Talk to your insurance brokerage to learn about what coverage you may be missing out on and protect everything that matters — even if it’s from a ghost.

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