How do you determine value? Some people determine value based on how much they paid for an object. Some determine value based on how much personal meaning they attach to the object, and others determine value based on how much an insurance company is willing to cover the object for.

You have undoubtedly heard that Mariah Carey has her legs (yes, her legs) insured for $1 billion. Now, most of us would think that was crazy. What kind of premiums have to be paid to get an amount that high? But are a pair of legs the only random items to be insured for large amounts of money?

No way. Celebrities have been insuring their body parts for years. But that’s not all. Check out some of these other insured items from around the world:

• Betty Davis had her waistline insured for $28,000 in the 30’s
• Jimmy Durante’s nose was insured for $442,000
• Lloyd’s of London has insured a cigar that is over 12 feet long
• A whisky company offered $1.5 million for catching the Loch Ness Monster, then took out insurance for paying the prize (just in case)
• You can take out insurance against being abducted by aliens
• Wedding insurance coverage is a new trend
• Pet insurance is also a new trend

Most of us would never insure our body parts, or seek coverage against alien abduction. Even if we wanted to, most of us wouldn’t want to pay the premiums. But do you ever think about the things you already own?

How much did you pay for you tv? Your furniture? Your computer? What would it cost you to replace those items?

If you have not done so recently, we would highly suggest that you take the time to study your home owner’s insurance policy. What is included in that policy? If you were to be robbed or your belongings destroyed in a fire or flood, would your insurance policy cover those items?

Insurance is great for protecting you, your family, and your belongings. Unfortunately, not enough people take interest in their policies. They end up paying high premiums and not covering everything they own.

Don’t go crazy, insuring your fingernails or earwax. But do take some time to make sure everything you consider valuable is adequately covered by your policies. Not sure? Give us a call at Arizona Capital Insurance today and see if we can get you great coverage at a great rate.