Homes, automobiles, health; these are assets which almost everyone has that are worth insuring. Some may have possessions that go far beyond the basic worth of insuring. Individuals may take out separate policies for art or jewellery while businesses take out liability or life insurance to protect their employees and their own business worth.
Celebrities also have to protect their most important assets which are usually themselves. Insuring body parts such as hands, feet, legs – you name it, it can be insured!
In fact, such insurance coverage practice has been around for quite a while. Stars such as Fred Astaire and Betty Grable both took out insurance policies on their legs ranging from $150K to $1 Million.
Check out this list of six interesting insurance policies taken out by celebrities, as compiled by 24/7 Wall St.:
#6. Troy Polamalu
Insured asset: Hair
Amount: $1 million
The Pittsburgh Steelers player has been growing his hair for over a decade as a tribute to his Samoan heritage. To protect his asset, he took out a $1 million policy with Lloyd’s of London.
#5. Keith Richards
Insured asset: Hands
Amount: $1.6 million
Rolling Stones guitarist, Keith Richards, took out a $1.6 million policy out with Lloyd’s of London for his hands. When interviewed for a Fortune article, Inside the Rolling Stones Inc., Richards held up his hands and declared, “These are the business.”
#4. Heidi Klum
Insured asset: Legs
Amount: $2 million
Klum had her legs insured with London’s Phillips de Pury & Co. for $1.4 million. Apparently her right leg is worth $200,000 more than her left due to a small scar.
#3. Bruce Springsteen
Insured asset: Vocal chords
Amount: $5.5 million
Even though “The Boss” values his physical abilities, Springsteen values his vocal capabilities the most. He has allegedly taken out a $5.5 million policy with Lloyd’s of London for his voice.
#2. David Beckham
Insured asset: Entire body
Amount: $195 million
The former Los Angeles Galaxy soccer superstar, who used to play for Manchester United, is often thought to be the most popular soccer player in the world. According to the London Times, to protect himself, Beckham took out what is known to be the biggest personal insurance policy in sporting history. The $195 million policy apparently covers him against injury, illness and of course disfigurement as most of Beckham’s endorsements rely heavily on his looks.
#1. Mariah Carey
Insured asset: Legs
Amount: $1 billion
Being known for her good looks, especially where her legs are concerned, Mariah Carey agreed to flaunt her legs in 2006 for Gillette’s Legs of a Goddess campaign. According to the San Francisco Chronicle, Carey thought it best to be cautious by purchasing a $1 billion policy for her legs.