People buy life insurance, auto insurance, medical insurance, house insurance and the like, which are normal and most companies sell them and many people purchase them. But there is another category of insurable and insured items which only a few have done and these are quite weird types of insurance.

Well-known people and film and TV stars are known to have insured their body parts. These public celebrities take no chance on getting any part of their body changed or disfigured and hence they buy insurance for it. These people depend on their bodies for their livelihood. And insurance companies offer insurance policies that will pay if something damages the appearance or the functionality of some body part.

Professional athletes too buy insurance. Peyton Manning has insurance on his right arm, it is reported. The following are some of the body parts that are known to have been insured:-

•Ken Dodd’s extremely big buckteeth for $ 7.4 million!
•13-year-old World Yo-Yo champion Harvey Lowe’s hands for $ 150,000!
•Australia’s cricket player Merv Hughes’ walrus moustache for $ 370,000!
•20th century Fox insured actress Betty Grable’s legs for $ 1 million each!
•Michael Flatley of Lord of the Dance and Riverdance for $ 47 million
•Food critic Egon Ronay’s taste buds for $ 400,000!
•Bruce Springsteen’s voice for $ 6 million
•Comedy partners Bud Abbott and Lou Costello for $250,000!
•Jennifer Lopez’s ass for $ 1 billion!

The list can go on increasing. We have tea taster’s nose and tongue being insured and so also someone’s eyes. Another not so common but weird is insuring a game of golf. They have a hole-in-one prize. Anyone who scores a shot is awarded a prize which can be cash, an automobile, a video or anything. There are many other strings to the bow and many companies think of such things. They do not lose money, in fact they and the people insured have all the publicity they want. Hence it can be worth it. For both, the insurer and the insured.

Kidnapping youngsters and even adults has become so frequent that the well to do people are buying insurance against kidnapping and ransom. People working at high risk jobs also buy insurance. These policies are held by businessmen who work in dangerous areas and they offer indemnity coverage for any loss incurred by whoever pays the ransom. This includes the ransom money, money lost in transit, expenses incurred while delivering the ransom, hiring of professionals like negotiators and rewards offered for the safe return of the victims.

Lloyd’s of London has sold insurance policies against the oddest of demands. They have sold policies for vampire bites, werewolf attacks, alien abduction and the like. There are more than 400,000 policies sold to insure against alien abduction. If you can prove it (pass a lie detector test or have a video or a witness to support the claim of being kidnapped by an alien) then compensation of one million pounds will be given by the insurance company!

There are many things in our homes which are expensive and necessary. In case of a disaster, they need to be replaced, which can be done by using the money obtained from the home insurance policy which covers such eventualities.

But, then, how many houses in the United States have been ruined by floods, or fires, or earthquakes? Or even been burgled or destroyed? A very small percentage. There are many people who feel that buying insurance for the home which need not get destroyed is a waste of money. Especially if you are living in a seismically safe area, or where the weather is predictable and not liable for floods or such disasters. Especially if your house has a security system or is fire proof, paying premiums regularly may be considered a waste of money. There are many people who feel like this.

However if there is even a minutest chance that such a disaster can happen, then a policy would cover the loss and be profitable. If there is a big garden near your house, a tree can fall on it and cause damage. Or an automobile may ram into your house and cause extensive damage. Anything can happen and it would always be better and safer to have your house covered by insurance.
The insurance can be for any period of time. In case you have some valuables in the house at some specific time, you can buy a home insurance for that period so that your valuables are covered by insurance. Also you need not buy very expensive insurance even a cheap one which will cover all your needs can be good enough.

There are so many insurance companies to choose from. Each one offer discounts, special schemes and the like and you can pick and choose. There are many who feel that buying home insurance is like gambling. You pay a certain amount of money on a regular basis (as per the policy) and if something happens during the period that the policy covers, you get the payout. This amount is linked to the amount you have paid as premiums on a regular basis. This is wrong. It is not like gambling no matter what others may feel. Home insurance helps you in your hour of need and when your home has been spoilt by natural or human disasters. So buying home insurance makes sense.

You should buy the right insurance, neither too expensive nor too cheap. You should not be under insured either. You should pinpoint exactly what areas and things are to be covered in case of such exigencies and mention the amount correctly so that you get the best possible bargain. You can research and find out which suits you. You need not go in for the cheapest insurance as it may not be the best. There has to be some reason, some catch, why this particular insurance policy is the cheapest. Some offer discounts which may be on the level and you can go ahead with it after satisfying yourself that it is suitable.

You can also insure just part of the house. If your living room contains the most important and the most precious expensive things, you can insure only the living room. In case of a disaster you will get the money to replace only the things in the living room. Hence you have to make sure you know what you are doing and insure all the things which are important to you.

Home insurance is neither a waste of money nor a gamble. It is the most sensible thing to do, to cover your loss in case of disaster.

Pricing is probably the most bewildering aspect of individual health insurance policies, and this is why it is necessary to shop around before you buy. For instance, the premiums for similar products from different insurers can vary by as much as 50 percent for the same person. What's more, the rules and regulations about individual health insurance vary from state to state, making comparison-shopping difficult.

The first step is to evaluate your needs and understand your health insurance options.
If you're faced with finding individual health insurance, don't let the confusion tempt you to go without. Even if you're healthy, you could fall off a ladder or have a serious car accident and be financially ruined. Plus, you'll lose your pre-existing-conditions coverage in most states if you go without insurance for more than 63 days, an interval set by the Health Insurance Portability and Accountability Act (HIPAA).

Finding the right balance of health insurance coverage and cost can be challenging, but it's a necessity. So take your search one step at a time. The first step is to evaluate your needs and understand your health insurance options. For some, that may mean buying COBRA coverage from your former employer. COBRA is best seen as a safety net. You have 60 days to make a decision about whether to enroll in COBRA, and when you do, the coverage is retroactive.

Flood insurance is what you used to regret buying in the dry years and wish you had bought in the wet years. Now that our planet has entered the Global Warming Era, there are no longer dry and wet seasons- instead we have “very dry” and “very wet” seasons. And Very Wet season means that everyone, everywhere should have flood insurance. Take a town like Cedar Falls, Iowa, where the Cedar River is reportedly cresting at an all-time high of 102 feet. Officials are preparing to evacuate residents along the Cedar River, which threatens to breach a levee, according to the New York Times.

Earlier in the week, in Wisconsin, a piece of Lake Delton's shoreline broke and washed away several homes, leading to more evacuations. Whereas homes and their contents may be beyond repair, the homeowners with insurance at least have a chance to get their lives back to normal more rapidly.

Few people are prepared for a natural disaster or even know how to prepare. It is always better to be proactive, rather than reactive, when it comes to insuring your home. So, what should those who live near highly floodable areas do to protect themselves? Clearly the most important thing is to buy flood insurance. At least you will be compensated for losses.

The National Flood Insurance Program offers coverage for sale to homeowners and businesses located along coasts, on islands, and along rivers. NFIP flood insurance will cover damage to mechanicals of the house – the furnace, washer or dryer and water heater, but not the exterior or the contents. For more complete coverage, you must buy a separate policy, called a policy rider, from your private insurer for the contents of your home.

The NFIP, founded in 1969, also regulates the zoning of the communities it covers: Including preventing homes from being built in floodplain areas most susceptible to flooding. According to Lynch, topographical floodplain maps stipulating low-lying areas are required in NFIP municipal offices. Flood insurance rate premiums are based on the floodplain zoning on these maps. In areas that participate in the NFIP, if you have a federally backed mortgage, it is mandatory to purchase flood insurance. If you do not have a federally backed mortgage, you can go without flood insurance at your own risk.

Ask an independent insurance agent for specifics about coverage but it is widely available. It is very, very seldom that people want it and they can’t get it. There is a 30 day delay after purchase before the coverage starts.

Summer is here! It’s time to put a shine on our bodies and look trim and healthy when we walk around on the beach. This could be a good time to give up smoking for good.
Apart from the positive health benefits, saying no to cigarettes also has a fantastic financial incentive. Of course, smoking is expensive. The savings you make by quitting can mount up very quickly. But did you know that non-smokers spend far less on their life insurance?

The price you pay for your life insurance premiums is linked to the risk of a claim being made. If your insurer decides the risk is low, you'll enjoy cheaper cover. But if you're a smoker, the risk of making a claim is greater. To balance that out, the insurer will charge you higher premiums for the same policy. And the difference between the two sets of rates can be staggering!

Here’s an example of the difference in the insurance rates from one insurance company: Men who smoke would pay £12.75 a month for £100,000 cover. Men who don't smoke would pay just £7.55. Over a 20-year term, non-smokers would actually spend £1,248 less on their life insurance policy than smokers. It's a similar story for women. Female smokers would pay £9.35 a month while non-smokers would spend just £6.20.

Most insurers will class you as a non-smoker once you haven't smoked any cigarettes (or used nicotine replacement products) for just one year. This means, if you quit when the smoking ban came in, there's just a few short weeks left until you'll qualify for non-smoker rates.

We've already looked at how much cheaper life cover is for non-smokers, so it makes sense to apply for a replacement policy based on non-smoker rates. If you can get cheaper premiums, why not set-up a new, lower cost policy, and cancel your outdated one? You can do this quickly and easily by comparing quotes on the internet.

But there's an important factor you should think about before you change your cover: If your health has deteriorate, or you are significantly older since you took out the original policy, the cost of a new plan could be a whole lot more expensive. If this happens, it's better to stick with your old policy, even if that means being stuck on smoker rates.

You should benefit from lower cost life insurance as a non-smoker. And the money you save on your new policy can be put to far better use enjoying yourself this summer!

Before you rush downtown to get some quotes, make sure to check that you aren't getting at least some life insurance cover already, perhaps in a policy that your employer pays for you. Check your benefits package at your place of employment or ask at the manpower or personnel department - you may just find you have a good proportion of what you need already.

Remember that you should insure both partners. Don't fall into the trap of insuring the main breadwinner and ignoring a non-working partner - after all, could you manage to take care of the kids while working, too? You are buying the policy at the beginning of your married life when everything is looking great. You are both working; you are both well and healthy. But things change. Jobs come to an end and as one ages, health issues rear up. Your policy is meant to last all your life, or at least until your children become independent, so treat everything seriously.

Remember that there are alternatives to the life insurance route. Family Income benefit, for example will pay your dependents an income, should you die before reaching pensionable age, rather than a lump sum which can be preferable.

Watch out also for joint policies for couples as they can often pay out after the first death only, leaving the surviving partner uninsured. Separate policies for each partner can be a far better and not more expensive option. And putting that policy in trust can keep it separate from your estate should you die, which may protect it from the dreaded inheritance tax.

Finally, when you have a good idea of what you want, it's time to get some quotes. You can either do this by calling up providers individually, or save yourself some time by plugging your details into a comparison tool such as one of the many to be found on the internet. It's a good idea, and a good system, of applying for a number of quotes from different providers at the same time.

Life insurance is clearly never going to be the most riveting of subjects, the very notion is quite depressing, so I'm not surprised my friends aren't keen to discuss it when more pleasant topics come to mind. But as insurance goes, this could be one that'll help you sleep a little better at night.

There are several things to think about when you decide to buy insurance for your car. Depending on which state you live in, there is generally a minimum requirement for auto insurance coverage established by state law. One example is the state of Colorado, where the minimum requirements for auto insurance coverage are 25/50/25. This relates to bodily injury liability limits. What this means in plan language is that the insurance company will pay $25,000 per person, $50,000 per incident, and $15,000 for property damage. These then are the rock bottom minimum requirements as established by law. It is definitely a good idea to have more than that in bodily injury and liability/property damage coverage. In the case where you might be the cause of a multiple-car pile-up, or in the case of an accident where you are the cause and a few people are injured, it is most likely that you will have caused more damage than you may have thought possible. For this reason alone, the additional premium you would be paying for more coverage is very much worth it, and this is true even if you are a conservative spender.

Comprehensive Coverage and Collision Coverage

It is also of importance to consider what deductible amounts might be appropriate when you are purchasing a used car. It is important to bear I mind that the greater your deductible, the less you will be paying in premium for that year. Be aware as well, that there are two forms of deductibles: that for comprehensive coverage and that for collision coverage. Comprehensive relates to any damage that might result in your vehicle because of vandalism, acts of God, hit-and-run, or by hitting an animal. Collision comes under the situation where you actually hit another vehicle while driving on the road. While there is no affect on your future premiums as a result of claims made on the comprehensive portion of your policy, the collision portion means that a claim can negatively affect you future premiums. For this reason it is wise to have a lower comprehensive deductible, and a greater collision deductible. An example might be to have a comprehensive coverage deductible of $100 and a collision deductible of $1000. In addition, replacement of glass is covered under the comprehensive deductible. There are insurance companies that have a $0 deductible for glass coverage, so ask your agent about this.

Dealing with Used Cars Worth Less than $2000

If you are driving a used or older car that is not worth more than $2000, then cover it with liability insurance only. In this way you will not find yourself paying a deductible on collision that might be more than the car is actually worth. Don't forget, however, to get sufficient coverage under the bodily injury liability coverage portion of the policy, snc this could cover you in the case where you might be at fault in an accident. In the case where you are in an accident and someone is injured, you can't simply claim that you have no money and have no coverage. In either case you must pay for the injuries or property damage incurred.

As a member of a PPO (Preferred Provider Organization) health insurance plan, you'll be encouraged to use the insurance company's network of preferred doctors and hospitals. These healthcare providers have been contracted to provide services to the health insurance plan's members at a discounted rate. You typically won't be required to pick a primary care physician but will be able to see doctors and specialists within the network at your own discretion.

HMO (Health Maintenance Organizations) health insurance plans typically enable members to have lower out-of-pocket healthcare expenses but also offer less flexibility in the choice of physicians or hospital than other health insurance plans. As a member of an HMO, you'll be required to choose a primary care physician (PCP). Your PCP will take care of most of your healthcare needs. Before you can see a specialist, you'll need to obtain a referral from your PCP.

With an HMO health insurance plan you'll likely have coverage for a broader range of preventive healthcare services than you would through another type of plan. You may not be required to pay a deductible before coverage starts and your co-payments will likely be minimal. With an HMO plan, you typically won't have to submit any of your own claims to the insurance company.

Put very simply, life insurance provides money for your family when you die. It has other uses as well: it can be used to pay off a mortgage or other debts and can be used to provide a regular income.

Here is a simple explanation: the whole purpose of life insurance is to pay off your debts and provide support to your dependants by replacing some or all of your income if you die. You pay premiums to an insurance company, usually monthly or annually. In return, the insurance company will pay an agreed amount - the 'sum assured' - if you die during the life of the policy.

Your life insurance premiums vary according to a number of factors, including the sum assured and the length or 'term' of the policy, plus individual lifestyle factors such as your age, occupation, gender, state of health and whether you smoke. Smoking has become a major factor all on its own and you can save a great deal on premiums by giving up smoking. Most insurers will quote lower premiums once you've quit for a year or more.

When you buy a life insurance plan you are essentially gambling on the question of your longevity. Neither you nor your insurer wants you to die while you're covered, but your premiums are priced to reflect the risk of this happening. Of course, if you outlive your life insurance policy, it brings you nothing but peace of mind. Usually, you only stand to gain financially if you die, which is a high price to pay!

Mortgage lenders encourage all borrowers to take out a life insurance policy, but it's only necessary if you have a partner and/or children. After all, if you're young, free and single, who stands to lose out if you suddenly die? In a worst case scenario, your mortgage lender will sell your house to pay off your home loan, which is no big deal. Why not consider income protection insurance instead, which pays you an income if you can't work because of sickness, injury or disability.

But the least you can do to pay off your debts and leave your wife and kids with something to live on if you've passed away. Amazingly, a quarter of homeowners don't even have enough life cover to pay off their mortgage if a breadwinner dies, which is just madness.

Car rental insurance is a subject that always worries me. You come to rent the car, everything, especially the price is fine and then right at the end they start circling these insurance clauses where you have to sign and the price starts to rocket. That’s when I think of a hundred questions, and never ask them. Can I turn down these different insurances and save money?

In most states, car rental companies are prohibited from refusing to rent you a car unless you purchase the additional insurance, but many companies still try to do it. The coverages that you can get are all optional. Combined, they can add up to $30 per day to the rental bill. Each coverage protects against a different risk, but your car, home, life, or health insurance policies, or your credit card, may provide all or part of the protection you need, particularly when they are combined with the minimum insurance the car rental company is required by law to provide as a part of every rental.

There are four different types of insurance coverages the companies try to sell to consumers at the rental counters:
o Collision Damage Waiver (CDW),
o Supplemental Liability Protection (SLP),
o Personal Accident Insurance (PAI),
o Personal Effects Coverage (PEC). This coverage may make sense for some renters but in most states you already have this coverage for a rental vehicle as part of your primary auto insurance, unless you declined to accept it when you purchased that policy.

SLP usually provides $1 million of liability protection, considerably more coverage than most consumers have under their own automobile insurance policies. So if there is a reason that you want more coverage for the rental than you ordinarily carries for your own car or you do not have an automobile insurance policy, buying the SLP may make sense.

PAI coverage, which costs about $3 per day, provides medical, ambulance and death benefits for the renter and passengers of the rental car in the event of an accident. The medical coverage is usually around $3,500 and the ambulance benefit $150 and REC coverage typically costs $2 per day, usually provides $500 per person of insurance coverage, with a $1,500 maximum, for theft of personal effects of the renter and his or her family.

The lesson learned here is that before you buy into rental car insurance, you should check to see if you are already covered through your own car policy.