12 Things You Had No Idea You Could Insure (And Probably Should)

Insurance can eliminate some money stress, allowing you to have the peace of mind of knowing that you will be reimbursed in the event of the loss of your home, cars, and other valuables.

While most people are aware of car insurance and homeowners insurance, there are other types of coverage that might be less familiar. Here are some overlooked things that insurance can cover.

Wedding insurance won’t help if your intended gets cold feet and leaves you at the altar. But this type of insurance does cover deposits and other losses in the event that you must cancel or postpone your wedding due to unforeseen circumstances.

Protected events typically include the death or hospitalization of a family member, a medical emergency for the bride or groom, natural disasters, vendor problems, and travel restrictions that prevent guests from attending.

Surgeons, dentists, and others who make a living with their hands can get a disability insurance policy that covers specific body parts in case an injury or illness threatens their livelihood.

Celebrity models, actors, artists, and athletes can insure anything from legs to wrists to vocal chords.

Very expensive gold rings, diamonds, and other jewelry can be insured by adding a rider to your homeowners policy or by taking out a separate policy.

Pro tip: If you wish to insure a diamond ring that you give to a fiancee, be sure their name is on the insurance policy.

Parents can insure their children’s belongings while they are away at college. A separate renters policy will protect against covered losses, for example.

Your existing homeowners policy might also cover the contents of your child’s dorm room up to a certain portion of the policy limit. Check with your insurer to see how much coverage is available.

Traveling abroad can be dangerous in some countries. That can be especially true if you are someone who is widely known to have a high net worth, as criminals might target you.

Insurance is available to protect you financially in the event of extortion or ransom demands tied to kidnapping, hijacking, child abduction, wrongful detention, or a hostage event.

You can only imagine what would happen to Tesla if Elon Musk died. Some employees are virtually irreplaceable. At the very least, their departure could set the company back.

Key person insurance can protect businesses financially if key, irreplaceable employees leave the company or die. The funds help the business continue until a suitable replacement can be found.

If you rent out a home on Airbnb, you never know when a guest could unwittingly carry bed bugs or fleas into the property.

Companies such as Proper Insurance offer a bug protection policy for just such an occasion. It covers the costly professional extermination process.

Babies are expensive, and twins are doubly so. Parents in the U.K. can take out multiple-birth policies which offer a payout if the mother ends up having more than one baby at a time.

The payout isn’t huge, but it will keep your family in extra diapers and formula. Keep an eye out for this type of policy to eventually make its debut in the U.S.

Identity theft is increasing exponentially. Replacing documents and re-establishing your identity is financially costly and emotionally taxing.

Identity protection insurance reimburses you for the expense of doing so, although it doesn’t cover financial losses from fraudulent purchases made in your name.

There were probably scores of people during the early days of the COVID-19 pandemic who wished they had purchased cruise travel insurance.

Depending on the policy, you may be able to cover the cost of trip cancellations, medical emergencies, lost baggage, and more.

Whether you collect art, guns, Pokemon cards, or Beanie Babies, you can insure the value of your collection.

Policies are available from companies such as Collectible Insurance Services that will reimburse you if your items are stolen, broken, lost in the mail, or suffer another disaster.

Unlike most business owners, farmers only get paid a few times a year — chiefly when they sell their crops or animal products.

Meanwhile, they front the money for seed, fertilizer, feed, and supplies. A drought, blight, flood, or fire could devastate their entire livelihood.

Crop and livestock insurance can help protect them in such circumstances.

In an unpredictable world, there is insurance for nearly anything you can imagine. Many niche policies are available that can protect your wealth by safeguarding your most valuable assets.

So, whether you are traveling abroad or are a new parent bracing for the birth of twins, there is probably an odd but useful insurance policy available.