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Some of us go our whole lives without ever having to fall back on insurance. Others might only claim for the occasional lost item, broken vase or missing suitcase. It is for this reason that a lot of insurance types get overlooked, but it’s not until you’re unexpectedly in the wrong place at the wrong time that you might desperately need it.
While there are obvious essential insurances like health, car, property and travel insurance, there are others that you may never have known existed. Depending on your lifestyle, your priorities, and your concerns, there are certain insurances that go under the radar. The best way to stay on top of what you need is to discuss your options either directly with insurance brokers, or with point-of-sale insurance platforms. In the meantime, however, we’ve compiled a list of unusual or underrated insurances that may be just what you’re looking for:
Insurance might not be the first thing you think about when you’ve just acquired a puppy, but you’ll quickly realize that it is actually one of the first things on the agenda for sensible pet-owners. North American pet owners are slowly beginning to realize the importance of pet insurance: according to the North American Pet Health Insurance Association, “North America’s pet health insurance sector posted record growth in 2017, with combined gross written premiums hitting $1.2 billion”.
The ease with which veterinary bills add up and the frequency of emergency pet situations are two major contributing factors to the rising popularity of pet insurance. The policies themselves tend to pay out differently so make sure to do your research on the different options and choose the one that best suits you and your pet’s needs.
Mobile phone insurance
This type of insurance is perhaps more underrated than unusual, but highly important nonetheless. Despite the ubiquity of smartphones, dedicated phone insurances are still overlooked by many – either due to simple neglect, or assuming home insurance will cover it. It is important to note that many home insurance policies do not cover mobile phones, so before you consider purchasing it, get in touch with your home insurance policy provider first. Truly dedicated mobile phone insurance policies – take simplesurance for example – are usually the best option because they tend to cover accidental damage and repair costs as well as loss and theft. As perhaps one of your most used possessions, and a delicate one at that, your smartphone is well worth covering.
Although not a pleasant thought, weddings do not always run according to plan. With the possibility of illness, supplier cancellations or other unforeseen circumstances, it is important to insure high-cost wedding events. Most wedding insurances cover a specified amount of financial losses, venue failure, and sickness. This insurance type is best suited to those spending a lot of money on the wedding or perhaps even getting married abroad. It is, however, important to note that most bills paid with credit card can be claimed back via your bank if something goes wrong. There’s a lot of research required for this one, so make sure to read up on it in more detail.