Celebrities and Insurance

 

 

Celebrities are known for their eccentricities.  They ask for unusual and even crazy provisions for their dressing rooms and go on bizarre spending sprees.  They also buy insurance policies to cover really weird things like body parts that may have made them famous.  Here are a few of our favorites:

Betty Grable, a 20th Century Fox actress and singer, was the first to insure her famous legs for a rumored $1,000,000.

Jennifer Lopez is known for her dance moves, voice, and yes, her buttocks which she is rumored to have insured for $1,000,000,000!

Keith Richards of the Rolling Stones is known for some incredible guitar skills. It is said that he has his middle finger insured for $1,600,000.

Proctor and Gamble’s current face of Head and Shoulders Shampoo, Troy Palamalu, better known as a Pittsburg Steeler football player, insured his flowing locks for $1,000,000.

Maybe you aren’t a celebrity who has million dollar body parts or a multi-million dollar home, but you do have things that need protection. Some of your possessions have limits on how much the insurance carrier will pay for them in the event of a covered loss.  Coverage for these possessions may be able to be increased or an endorsement may be added to your policy to cover a specific item.  Let’s take a look at a few commonly underinsured household items.

Jewelry: Your homeowners or renters policy may already cover your jewelry but most policies have a limit which is normally well below the value of more expensive pieces. Your jewelry should be appraised to establish the current value and added to your policy.  Don’t’ forget to take a look around once in a while and check that you have included all the pieces you may have.  Maybe you forgot about the beautiful piece you got as a Christmas or birthday present.  Make it a point to check your policy to make sure it accounted for.

Artwork: Did you decorate your home with pieces from your favorite artist? Take the time to have them appraised and scheduled on your policy. You may also need breakage coverage if you have expensive glass artwork. Again, be sure to check your policy to make sure it is account for.

Recreational Vehicles: Finally, take a look at what you have stored in your garage. Do you own an RV, boat or ATV’s?  Vehicles that may seem to be only recreational vehicles are not always covered by your homeowner’s policy.  A good rule of thumb is, if it could be titled, it should have its own insurance policy.

If you have questions regarding additional coverage that may be needed, ask it! We are ready to help and explain your options.