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Paying too much for insurance? At least you’re not paying for these policies

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Paying too much for insurance? At least you’re not paying for these policies

For many California residents, the multiple forms of insurance are an inescapable cost of living. According to USA Today, the Golden State has the seventh-highest annual car insurance rates ($1,819) in the country, and Covered California announced this past May that the average cost of a st andard health insurance plan on the state’s health insurance exchange will be between $3,648 and $3,852 a year. That doesn’t even include the monthly costs of life insurance and homeowners or renters insurance.

If it feels like you’re spending too much on insurance, one way to look at things is that at least you don’t have to pay the premiums that many celebrities have shelled out to protect some of their prized assets. “It’s Not Unusual” singer Tom Jones saw nothing unusual in taking out a $7 million insurance policy on his chest hair, rock b and Kiss bassist Gene Simmons once had his famous tongue insured for $1 million and singer-songwriter Dolly Parton has $300,000 insurance policy on each of her, well, you get the idea.

Even if you are not the owner of a world famous body part, you might feel better about not shelling out the additional chunk of change for these five rather unusual policies that others have paid for:

  1. Alien Abduction insurance — A woman in the Southern California city of Santee garnered some attention in May when she photographed what appeared to be a UFO hovering behind a historical barn, but is that enough to compel people to seek a policy in the event they encounter extra-terrestrials? The United Kingdom’s Telegraph reported that more than 37,000 people have actually bought such policies, with one of the most famous purchasers being actress Shirley MacLaine.
  2. Supernatural attacks — Whether you’ve read “Twilight” one too many times or have been regularly viewing “The Walking Dead,” British insurance giant Lloyd’s of London does actually offer policies for those who are concerned about vampire, zombie or werewolf attacks.
  3. Asteroid/Meteor insurance — Los Angeles residents reported seeing the bright light of a meteor streak across the Southern California sky this past February. While this might seem like a more plausible policy to take out than some of the others listed here, an object from outer space that l ands on your home would usually be classified just the same as common falling objects here on Earth, like trees. So chances are good that your home is already insured for this type of disaster.
  4. Immaculate Conception insurance — One British company provided a policy for women seeking insurance in the event that they suddenly found themselves pregnant with the son of God. BBC News reported in 2006 that three sisters had been renewing the policy since 2000 before the company canceled it because of complaints.
  5. Improbable insurance — If you are a couple preparing for the birth of your first child, this type of insurance can help with additional costs in the event that the mother has twins, triplets or even more than what you were expecting. In one case, an insured couple actually collected on the policy when the mother gave birth to twins—twice.
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