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5 Types of Insurance You Might Not Have Known About!

We all know you can insure your home and car, but did you know you can get your wedding insured? We look at the different types of insurance.


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June 13th, 2017 by


We are generally quite familiar with general insurance types such as medical, home, car and life policies.

However, there are some specialist types of insurance which are targeted towards niche customers.

CompareGuru takes a look at some specialist insurance you may not know about.

1. Wedding Coverage

With the cost of many modern weddings soaring, it’s no wonder there are people willing to take out an insurance policy on the big day.

Wedding insurance covers everything from unforeseen cancellation, damage to attire and even stolen wedding gifts, Knot.com says.

Like travel insurance, you generally pay a once-off amount to have a specific event or trip covered.

Some may see it as a waste of money and just an extra cost for unfortunate parents. But it can actually protect those who have banked a lot of money on their wedding day.

You could even get policies that cover the rescheduling of a wedding in the case of illness of the engaged partners, severe weather conditions and vendors who don’t show up.

These policies, however, don’t cover the cases of cold feet!

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2. Divorce Insurance

Should the big day go well, but things don’t work out after that, there is such a thing as divorce insurance! 

And you thought prenuptial agreements were already a tricky topic. Imagine trying to talk about insurance policies for divorce with your spouse.

While it is a relatively niche offering, more companies are starting to offer this type of coverage.

These policies pay the client a lump sum in the event of their marriage being dissolved.

According to InsuranceQuotes.com, these policies are aimed at covering attorney fees, court costs, rent and other costs related to getting a divorce. These policies are sometimes also called marriage insurance or wedlock insurance.

While it may sound pretty pessimistic to take out this type of insurance, companies point to divorce statistics as a motivator for clients.

3. Kidnap and Ransom Coverage

Most of us aren’t important enough to qualify for this type of insurance, but it does exist. This kind of policy is often taken out by companies for key staff members (such as a CEO) travelling to an at-risk country.

However, companies who take out these policies generally keep it under wraps. After all, they don’t want it to act as a motivation for would-be kidnappers.

“The real value behind having Kidnap and Ransom insurance is not only having the policyholder reimbursed for the cost of the ransom, but rather unlimited access to a team of specialized response consultants…who provide the best kidnap response advice services and dedicated support to secure the hostage’s safe and timely release with minimum disruption and minimum hardship,” specialist underwriters SHA say.

It is essentially a more extreme version of key person coverage. This more mainstream type of policy provides coverage for a business should an essential staff member become incapacitated or die.

Looking for the lowest quote for your insurance premium? Compare now and start saving today!

4. Tuition Coverage

Education is increasingly becoming more expensive and unaffordable. This means that a student who has to unexpectedly leave university faces a devastating loss of their investment into their futures.

As a result, some companies are starting to offer tuition insurance.

These policies cover the expenses of a student’s education in the event of uncontrollable circumstances which prevent attendance.

These include health problems and death of the student’s guardians.

Some policies will also help a student pay for tuition should they no longer be able to afford it.

5. Weather Insurance

If you live in a place like Cape Town, you’ll know just how quickly the weather changes.

While you can’t control the weather, insurers are offering clients specialist policies instead.

Weather insurance, according to Investopedia, covers financial losses related to an event that had to be cancelled due to the weather. That is a pretty specific type of policy.

These policies can be taken out for weddings but are often used by filming and event companies. Bad weather during a movie shoot, for example, can cost thousands in additional fees.

Also, imagine the cost of cancelling a huge concert or ceremony due to snow or a severe storm.

At least companies and people now have an option to protect themselves…

Know of any other types of specialist coverage? Let us know in the comments below…