The insurance industry can be a bit dry, but the world of insurance is far more interesting than you probably think it is! If you’re planning to buy a certain type of insurance, here’s a look at 10 interesting facts about insurance that you may want to consider acting on, as they could save you money. Plus, not all insurance policies are boring. So keep reading! 

Insurance Fact #1: Insurance for Excessive Laughter 

Laugh neon signage

Yes. You read that right! There’s actually an insurance policy that exists for death by excessive laughter at a movie theatre. Movie-goers in the 19th century were fearing to die due to excessive laughter that they have purchased insurance through Lloyd’s of London. 

Insurance Fact #2: Home Insurance Covers Volcano and Meteor Damage 

You may not even know that your home insurance covers volcano and meteor damage. Although you are aware that your home insurance doesn’t protect you from flood damage, there are a lot of things that it does cover you from. Home insurance policies normally cover damage from volcanoes and even meteors. 

If for example, flooding damage and earthquake damage is not covered, it’s best to take time examining your policy or discuss it with your insurance broker or agent, to identify exactly what is and isn’t covered, so that you can decide whether you want to include more coverage for earthquakes and etc. 

Insurance Fact #3: Starbucks Pays Bigger for Employee Health Insurance Than it Pays for Coffee 

man wearing black sweatshirt

Howard Schultz, the Starbucks CEO, started a company-wide turnaround that included cutting costs by laying off employees and closing stores nationwide, nearly almost of which had been open for less than two years. 

But even in the middle of the cost-cutting, Schultz never dropped health care for his employees, a line item that tallies over $300 million, which is more than the company’s expenses for coffee. 

A shareholder contacted Schultz and said the crisis would give him the perfect cover to cut benefits for part-time employees, but Schultz refused. 

Insurance Fact #4: The U.S. Has Alien Abduction Insurance Available Since 1987

This may sound really crazy, but this type of insurance actually exists to cover you in the event that you can prove that you have been abducted by non-human life forms, provided that you meet and comply with the terms and conditions of the policy with the conditions that will support the proof. 

The UFO Abduction Insurance Company in Altamount Springs, Florida, markets a $10,000,000 alien abduction policy. Surprisingly, the insurance company has paid claims and has sold more than 100,000 policies. 

Insurance Fact #5: Insurance is Already Thousand of Years Old 

It may be difficult to think that insurance salespeople and insurance forms have been existing for so many years ago, but it truly did exist! In fact, the first appearance of insurance in history believed to have happened in China around 3000 B.C. Merchants who depend on ship transport of goods were at danger of losing merchandise in shipwrecks. Several collaborated together and delivered their goods across a number of ships so that one shipwreck would hurt each of them a little but wouldn’t deliver an entire loss to anyone. Modern insurance works in the same manner, with your money being collected and consolidated by insurers, ready to be paid out in claims. 

Insurance Fact #6: Taco Bell Once Bought Taco Insurance 

Taco insurance sounds a bit funny, right? In 2001, when the Mir space station was intended to crash somewhere in the South Pacific Ocean, the famous fast-food chain Taco Bell swore to provide everyone in America a free taco if the space station crashed within a small designated perimeter in the Pacific Ocean. 

Eventually, Mir did not crash into it. If it had, Taco Bell would have been down nearly $280 million dollars. If the Mir hit the target, the restaurant chain bought a taco insurance policy to cover the risks. 

Insurance Fact #7: Home Insurance Policies May Prohibit Certain Dog Breeds 

two brown and white dogs running dirt road during daytime

There are a lot of home insurance policies often prohibit you from having specific kinds of dogs as pets because they can potentially give rise to problems. According to the Centers for Disease Control and Prevention, some 4.5 million people are bitten by dogs yearly, and about 20% of dog bites require medical attention. In 2017, they have investigated $686 million in liability claims related to dog bites and some dog-related injuries, according to Insurance Information Institute and State Farm.

The standard policies exclude dog breeds such as Akitas, pit bulls, mastiffs, Alaskan, malamutes, and rottweilers. You may pay extra to add coverage for your dog, or by shopping around, you might discover a policy that covers it. 

Insurance Fact #8: An Actress Had Her Smile Insured For $10,000,000

America Ferrera, an American actress had her pearly white smile, including teeth and gums, insured by her sponsor, Aquafresh, for $10,000,000.

The policy protects America from any reasonable and necessary dental treatment costs or expenses that result from accidents or injuries during the term of her policy.