Ever seen golf carts puttering down the side roads of your city or town? If you’re naive like me, you probably thought they belonged on golf courses, right?

Wrong! Apparently, those cute little gas-savers don’t just roll around on the green anymore. In the majority of states, they’re also allowed on secondary roads within a few miles of owners’ homes.

Man, have I been missing out! If I had only known, I might have purchased one and taken the side roads to work in it every day, saving myself a ton of money on gas and avoiding piling all those miles on my car. I can see it now (vroom-vroom!)….

But last week, I read an interesting article in the Myrtle Beach Sun News online. South Carolina, which has apparently allowed carts on the state’s secondary roads for 23 years, is considering expanding the distance they can be driven from home from two miles to five.

Now, S.C. residents may be able to play 18 holes, bring their grocery list along, and stop off at the local Piggly-Wiggly on the way home from the golf course to pick up the week’s groceries. Or visit a local post office to mail some packages. Or maybe just stop off at a friend’s house for a cup of coffee in their little rolling cart.

How convenient!

With the rising cost of fuel and transportation, many people are looking for ways to trim costs, find alternate means of transportation and reduce vehicle emissions in the environment. At first glance, golf carts seem to meet all three standards. Whereas city busses or lightrail systems maintain a certain schedule that riders must adjust to, golf cart owners can come and go as they please, as if they were driving a regular car or other licensed vehicle.

In addition, many are electric, so they reduce gas consumption and avoid polluting the air. And because they’re small, they can be parked in much tighter spaces and easily maneuvered from one place to another.

But there’s actually a big difference. Not only do most carts lack safety equipment like horns and lights required for normal cars to be considered road-worthy; they’re also much more dangerous, as they’re completely open and offer absolutely no rollover protection.

Yet in many states, including South Carolina, all that’s required for owners to drive a golf cart on side streets–and to cross major highways–is a driver’s license, a $5 permit and proof of liability insurance. As long as they’re driven during daylight hours only and the owner carries the registration papers along on the ride, he can putter around town in this vehicle designed solely for the golf course to his heart’s content.

Maybe I should rethink this puttering-to-work thing. What happens when I’m toodling along at 15 mph, the top industry-recommended speed for carts on flat ground, and a line of cars with impatient drivers stacks up behind me? Should I pull over and let them by, or stand my ground because, after all, I have just as much right to be there as they do?

And what about crossing major roads? If I cut it a little too close, I could find myself staring down the nose of one of those vehicles going 65 mph–and end up roadkill!

It seems to me the risks outweigh the benefits. Maybe I’ll keep my safety-rated Altima and avoid those golf carts—for safety’s sake.

If you’re an animal lover like me, you probably can’t imagine living without pets.

After all, there’s nothing quite as endearing as that perky little puppy who greets you at the door at the end of the day, tail wagging, or that sweet little kitten who wraps himself around your shoulders while you’re watching TV at night.

But there’s risk inherent in owning animals, too. Whether you live in the city and enjoy dogs and cats or reside in the country and raise cows, pigs, goats or some other type of farm animal, you’re responsible for your animal’s behavior.

So if they get out of their pen and injure someone or damage someone’s property, you’re the one who’ll be paying the bills.

Your homeowners insurance covers what’s referred to as “reasonable risk.” That means they’ll generally pick up the tab if there’s not excessive danger of your animal repeatedly causing irreparable harm to others.

If, however, statistics show that the type or breed of animal you own tends to be on the dangerous side, you’ll pay more to insure yourself against possible insurance claims—whether the animals are domesticated or on the wild side.

What if someone else’s animal injures you? The same rules apply: either that person’s own insurance policy will pay for the damages or they’ll be held responsible to cover that cost themselves. This is known as liability in insurance terms.

Sometimes weird situations happen involving animals. But if you’ve got the right insurance coverage, you should be prepared, no matter how strange or unusual the circumstances.

If you’ll be having company around your animals this holiday season, you’d best think ahead and possibly even imagine the worst. Then talk to your insurance agent about covering your animals with your home insurance policy. Add a rider, or extra insurance protection, if necessary. But make sure everyone stays safe around your animals while you’re celebrating this year.

Following the recent passing of the ‘King of Pop’ Michael Jackson, the media and public alike have been all abuzz speculating about the way he died.

Was it murder? Suicide? Or just an accident?

Though Jackson’s notoriety places him on a different level than most of us, we’re all affected differently when someone we know and love passes away. Some of us struggle to believe that person was here one minute, then suddenly gone the next; others, more familiar with loss, simply grieve, accept death—and move on.

Regardless how you deal with it, being left behind is never easy. In addition to the emotional turmoil that accompanies losing a dear loved one, there may also be final expenses to pay, medical bills to cover, moves to make, life insurance claims to file and other life situations to settle.

But sometimes, when people die under mysterious circumstances, that’s all overshadowed by speculation, as in the case of MJ.

Life insurance companies have heard all the wacky stories: people disappearing, then found dead in the strangest of places; some dying for no apparent reason at all, then autopsied and a strange condition found; others meeting their demise in a place or situation that completely defies reason.

Some of the stories are wackier than others—and some are simply a matter of timing or circumstance. But regardless how they occur, death comes to us all…it’s just that some people really go out in style!

It’s your worst nightmare (and reminiscent of an Ashton Kutcher movie from a few years back): You drive across town to a friend’s house, park your car across the street, and head over for a rockin’ good time at a party.

Later that night (or early the next morning), you stagger outside, head across the street—and your car is gone.

Nowhere to be seen. Vanished—like Cinderella from the ball. Now what?

Though this scenario may not fit your lifestyle completely, vehicle theft is serious business, one you’d never expect to encounter during the course of a normal, routine day. But it happens all the time, leaving innocent drivers holding the bag and wondering what they did to deserve such a bad break.

How likely are you to have such a horrible, nerve-wracking experience as car theft? Well, that depends. If you happen to live in Modesto, California and/or drive a Honda Civic, you’re more likely than most.

It seems Modesto is the top U.S. city for car theft, and the 1995 Honda Civic is the most frequently stolen car in the country—increasing your chances if you live in that area or drive that particular car.

But no one is immune. According to the FBI, a car is stolen every 29 seconds in the U.S., and the rate of theft in 2007 was an estimated 363.3 per 100,000 people. Property losses in 2006 were nearly $8 billion, for an average of $6,649 per stolen car.

So what do losses like that mean to the average Joe (or Jane) like you and me? Other than possibly losing our prized speedster, economy model or SUV, it means higher insurance costs—something we’d all like to avoid.

For a list of the most-stolen cars, check out Jeb’s article on the subject here. Oh, and next time you head out to party with a friend, play it safe and do what you can to avoid theft: lock your doors, park in a well-lit area, and use a Club or other restrictive device to discourage joy-riders. It could make all the difference.

More Information:

Auto Theft

Auto Insurance Quotes & Theft

Many of us grew up in households where snacking was taboo.

We were told that eating between meals would ruin our appetites; and usually the only time our parents let us snack was when we came home from school and dinner was still hours away.

Experts know differently now—and it’s obvious that snacking has gotten a bad rap it doesn’t deserve.

As long as we monitor portion sizes and calorie counts, snacking can be part of a healthy, balanced diet for kids and adults alike, say the American Association for Retired People (AARP) and the American Dietetic Association (ADA), both recognized authorities on the subject of nutrition.

In fact, snacking carries a number of health benefits our parents and adults of earlier generations never recognized.

For instance, pairing healthy snacks—like protein-rich nuts, low-fat cheeses, low-fat yogurt and peanut butter—with fresh fruits and vegetables helps maintain energy levels throughout the day, curb hunger and prevent overeating at meals.

It also helps maintain constant insulin and blood cholesterol levels, possibly reducing the likelihood of diabetes and obesity in the process—and promoting healthier lives and lower health insurance rates for our children and future generations.

No matter what your age, snacking can be good for you, if done correctly and planned ahead of time. So find out how to snack healthily, avoid the vending machine when you hit that mid-afternoon slump—and feel better all day long.

Waiting for your stimulus check to arrive in the mail is a little like watching paint dry: Slow, painful and seemingly never-ending.

But once it finally comes, most people are thrilled, and use the bonus cash to pay their insurance premiums, buy groceries, put gas in their car or cover other bills they’ve been neglecting due to a lack of resources.

But something strange is going on with the Feds. If you haven’t received a stimulus payment made out to your dead Aunt Margie or your beloved mother who passed three decades ago (but whom you still miss like it was yesterday), count yourself lucky.

A glitch at the Social Security Administration is sending payouts to the great beyond—and leaving families dumbfounded.

That’s right: Our government is sending checks to dead people!

Just ask Antoniette Santopadre. She received a stimulus check made out to her father, Romolo Romonini, an Italian-American who lived in the U.S. for a short time and passed away out-of-country decades ago.

Ms. Santopadre doesn’t understand why the check was issued in her dead father’s name—and the explanations provided by the Social Security Administration and the Internal Revenue Service don’t ring true, she says.

Like Antoniette, James Hagner received a check in the name of his mother, Rose, who also passed away many years ago.

Similarly, Richard Hicks, who was the personal representative for a good friend, recently received a stimulus check in his friend’s name following the man’s passing.

So what’s going on? Why is the government issuing stimulus checks to dead people when we’ve got an $11 trillion budget deficit (and counting)?

Social Security says it wasn’t at fault because all stimulus checks had to be cut by June—and the ‘deadly’ payouts were simply oversight that occurred during the rush to get them out.

The IRS says it had no way of knowing those people had died, so it can’t be held responsible either.

So who is responsible? And why are they sending checks to dead people?

While you’re waiting for your stimulus check to arrive (hopefully in your own name!), pass the time by reading our article, “Stimulus Checks Issued to the Living—and Dead.” Then weigh in: Was this snafu unforgiveable—or mere oversight?

Steaming hot tea can be hazardous to your health!

No, I’m not talking about calorie burn. I’m talking about that steaming hot cup of tea some of us enjoy every day.

I recently read some discouraging news: A new study shows that, if drank too soon after brewing, hot tea can be hazardous to your health—and lead to deadly throat cancer!

As a dedicated tea drinker, this news took the steam right out of my sails (pun intended). I don’t know about you, but for me, tea’s slightly odiferous flavor and moist steam, inhaled as I drink, heighten the appeal of its caffeinated goodness.

Without the steam, it just isn’t the same. After all, who likes lukewarm tea?

According to the study, recently published in the British Medical Journal, letting tea steep for four to 10 minutes—and cool a measly nine degrees—before drinking can cut the risk of cancer by half.

That seems significant. Not only does drinking too-hot tea put our health at risk; it puts insurance rates at risk too.

Maybe I’d better rethink my tea-drinking strategy!

For more information on these recent findings, read our article on tea drinking here. Then decide for yourself, and let us know your thoughts: is the trade-off in temperature worth it?

Going on a trip can be so much fun. While planning, packing and making arrangements for someone to watch the house or take care of the pets, the excitement builds.

Before you know it, you’re in the car or on the plane traveling to your destination.

Man's best friend may land him in the emergency room!

But if you’re a pet owner, there’s one kind of trip you never want to take: a tumble over your dog or cat!

Not exactly a vacation—but a very real problem many pet owners don’t take seriously enough.

Most people have experienced near-misses with their pets…nearly stepping on the dog glued to their feet as they cook over the stove, or almost tripping on the dog as he runs down the stairs just ahead.

But if you’re one of the more than 86,000 people who land in emergency room every year because you’ve tripped over your pet, you realize just how dangerous pets really are underfoot.

And the home isn’t the only place pet-related falls occur. They can also happen outside the home. For instance, if your dog becomes too excited while out for his daily walk, you could trip over his leash—or the curb—as he surges to chase another animal.

Bad weather only accentuates the problem, especially for the elderly, who lack balance and peripheral vision, says Idaho-based veterinarian Marty Becker. If they start to trip, Becker says, seniors can’t catch themselves.

This is “the same group who trips on throw rugs,” he adds.

According to Dr. Richard O’Brien of the American College of Emergency Physicians, fractures of the ankle or wrist are the most common injuries doctors see in emergency rooms. But a senior who falls may break a hip, leading to a myriad of other health issues.

Then there’s the matter of cost. Though your health insurance company may recognize the fact that your beloved dog or cat provides unconditional love and helps keep your blood pressure and stress levels at bay, it may raise your rates if you trip over your pet and land yourself in the hospital one time too many.

So watch out for your beloved tabby, do what you can to help avoid injury, and keep yourself and your family safe from the hazard of pet-tripping.

A stay in the hospital is no one’s idea of a vacation!

Could the private health insurance market unravel with the passage of President Obama’s health care plan? That’s what the Wall Street Journal’s editorial team thinks will happen. Indeed, they say the plan is “the beginning of the end of private health insurance.” Here’s why they worry:

Obama hopes to introduce a public insurance option—a government-issued insurance policy that would essentially be Medicare for the middle class. Journal editorialists see an ulterior motive.

This public option will supposedly ‘compete’ with private alternatives. As President Obama likes to put it, those who are happy with the insurance they have now can keep it — and if they happen to prefer the government offering, well, gee whiz, that’s the free market at work. The reality is far different. Not only will the new program become the default coverage for the uninsured, but Democrats intend to game the system to precipitate — or if need be, coerce — an exodus to government from private insurance. Soon enough, that will be the only ‘option’ left.

The Wall Street Journal believes that the existence of a cheap, comprehensive public plan will make private insurance increasingly unattractive—to the point where insurers are left with no customers and we wake up one morning with a de facto single-payer system, like Canada’s.

Not surprisingly, America’s Health Insurance Plans (AHIP), the lobby that represents insurers, has gone on record opposing the idea of introducing a public insurance option.

AHIP supports the idea of a ‘universal mandate,’ a law requiring Americans to obtain health insurance. Under a universal mandate, insurers would be required to accept all applicants, regardless of age or pre-existing conditions. Massachusetts currently has such a mandate.

So far, President Obama has come short of endorsing a universal mandate, preferring to make insurance cheap enough and accessible enough that people will opt to buy it on their own.

Insurers needn’t get too nervous about an Obama health care plan: if the past is any indication, we’ll have our current system for the foreseeable future. Health care reform has a distinguished record of failure; from President Truman to President Clinton, plans have come and gone.

Bonus: Dr. Mario supports universal health care:

A basic human need like health care should not be monetized. Even our pack dinosaurs and humanoid mushrooms deserve coverage—a healthy workforce generates more points and 1-ups, increasing the chances of long-term gameplay for everyone.

Link

Last week, a visitor to our web site submitted the following question (we’re taking questions now—ask yours here):

If a tree in my yard falls on neighbor’s roof, does my insurance pay for the damage? What if a tree is ready to fall down on my house—will my insurance company pay to remove the tree?

It’s a good question, and I suspect that it’s one that many homeowners have, and like most questions involving insurance, there are more shades of grey than appears at first blush. Read the answer here.

But the second question—will my insurer pay to have a weak tree removed—points to a very common misconception about insurance in general, and this misunderstanding centers around this seemingly straightforward question: What is insurance for?

While insurance has changed over the years, it still retains its original purpose: to insulate people from the destructive and costly whims of man and nature.

Actually, the addition of “man” (aka Homo litigious) to the mix is relatively new. Most of the big property-casualty insurers (the ones insuring your homes and cars) started out providing insurance to Midwestern farmers, who were (and still are) victim to the cruel hand of mother nature. (The addition of liability coverage came with our country’s gradual embrace of lawsuits as a cash-acquisition strategy.)

Anyway, back to the point. Insurance is supposed to cover us in the event of accident or extreme weather event or other calamity that would be financially perilous. It is not meant to pay for things we’d simply rather not pay for, like tree removal, for example. That would count as maintenance, and if insurers got in the business of paying to maintain houses, well, they’d either go bankrupt or raise your premiums by 1000 percent.

Insurers get a lot of flack, and some of it is earned. But some of their unpopularity comes from a basic misunderstanding of what insurance is supposed to cover.

Related:

• The Cost of Insurance: Anatomy of a Premium

If you’re anything like me, the thought of a spider crawling on your body gives you the heebie-jeebies.

And at night, when the world is quiet and serene, the idea that the same spider could somehow land on your face, crawl into your open, snoring mouth and actually go down the hatch is enough to make you upchuck.

But can they really do all that?

As far-fetched as it sounds, some people believe anything can happen when you’re asleep—including spiders and other bugs crawling into your mouth.

In fact, it’s been said the average sleeping person swallows up to 20 spiders during their lifetime. But try as they might, no one has actually been able to prove that supposed “fact” one way or the other.

Those on the other side of the fence say no way! If something moved on your face it would definitely awaken you—and you’d most likely swat it away. They call it an urban legend, something someone made up somewhere along the line just to prove how gullible man really is.

Like it or not, spiders populate homes all across the U.S. every day, hatching in damp, dark places like basements, corners…and under beds. You might even find one in your covers, if you look closely. Eeek!

Whether you believe the tale or not, we’d like to offer up this simple advice: don’t take any chances. When you go to sleep tonight—don’t sleep with your mouth open!

More Resources on the Subject:

Eight Spiders Don’t Swallow Everything

Guardian Unlimited

Myths, Misconceptions and Superstitions about Spiders

Did you know that 10 percent of all property-related insurance claims are fraudulent?

That’s according to the Coalition Against Insurance Fraud, a group of insurance companies, consumer groups and law enforcement organizations.

Fraud can be classified into two groups—soft fraud and hard fraud:

Soft fraud is when a person bends, omits or obscures the truth for small financial gain, such as underestimating your mileage on an auto insurance application. While such a thing may seem small and harmless to you, these little white lies end up costing insurers millions of dollars each year, and they pass on that cost to all of their policyholders, honest and dishonest alike.

Hard fraud is deliberate, calculated deception for large-scale financial gain/or avoidance of loss. Giving up your car and reporting it stolen, for example; claiming injury after an accident (many of which are staged); offing someone for the life insurance payout. You get the idea.

Occasionally there are cases of insurance fraud that are so brazen and ridiculous you’ve almost got to hand it to the person for their chutzpah. Pennsylvania judge (yes, judge) Michael Joyce is an example. Joyce claimed extensive injury and chronic pain and demanded millions in payments after a … 5 M.P.H fender bender.

If his through-the-teeth-lying isn’t enough to raise your eyebrows, consider that Joyce, after pocketing nearly half a million from insurance companies, proceeded to go golfing, inline skating and scuba diving in the Caribbean.

He even got his pilot’s license (despite claiming to suffer from a brain injury that impaired his mental functioning).

Joyce is looking at a direct flight to the slammer. He can take some consolation in the fact that he’s now a minor celebrity: he made it into the Insurance Fraud Hall of Shame.

Other Hall inductees from last year include “sinister seniors” Helen Golay and Olga Rutterschmidt, who make Michael Joyce look like a saint by comparison. Golay and Rutterschmidt killed two homeless men after befriending them and surreptitiously setting them up with millions in life insurance.

If your curiosity is as morbid as ours, you can read all about Golay and Rutterschmidt here. Not responsible for Golay-Rutterschmidt-related nightmares.

Now that I’ve got your attention, it’s quiz time. Ready?

What do frozen squirrels and licking cows have in common (other than the fact that they’re both animals)?

Here’s the truth, an answer you might not believe: they’ve both been named in weird insurance claims filed in the U.S. during the past few years.

Some policyholders, looking to make a dollar or two through insurance payouts, file strange claims involving animals, food and inanimate objects. Others find themselves in unusual situations involving bumbling burglars, slips and falls or true instances of loss—and sincerely need help.

In fact, some people max out their insurance coverage over some of the strangest and most random occurrences insurance companies have ever heard of.

Take for instance these examples:

• A homeowner, concerned that her pipes were leaking, submitted a claim for standing water in her backyard garden. When the insurance adjuster came to inspect the damage, he found only the family dog which, it turns out, enjoyed relieving himself in the same spot over and over.
• A policyholder submitted a claim for a new bed, explaining that he wore out his old one by having too much sex.
• A woman filed a renter’s insurance claim when she discovered that her cell phone wouldn’t work after she cleaned it—in the dishwasher.
• A woman sued a nightclub—and won—after she fell through a window and broke some of her teeth. At the time the incident happened, she had been sneaking into the club to avoid paying a cover charge.

Though most of us can’t help but laugh at the ridiculous situations some people seem to find themselves in, how do these strange things happen in the first place—or do they? Who’s to say?

To read some of the other strange occurrences for which people file claims, read our article on the subject here. But please; for your own sake, use some common sense where your insurance is concerned—and save your claims for true emergencies.

Pro cyclist Dave Zabriskie has had a tough week.

First, he was edged out by his countryman Levi Leipheimer in the Tour of California.* Then he got a speeding ticket on his way home to Utah.

But the ticket paled in comparison to what happened next. On returning to his Salt Lake City home, he noticed that something wasn’t quite right. A few of his prized possessions seemed to be … missing.

Quickly it was clear: he’d been burgled. Badly burgled.

Zabriskie posted this message to his Twitter account the morning of Feb. 24:

My house was broken into while at [the Tour of California]. They took everything, a lot of bikes, cars, and you name it they got it.

Yes, that would be “cars.” Plural. They stole more than one.

But cars can be replaced. So too can the 52” flat-screen television that was stolen. And the $15,000 Bose sound system.

Harder to replace, however, are things like a Beijing Olympic ring and Giro d’Italia race medal. Each tally in the thousands in market value, but sentimental value is harder to put a price on.

Here’s the complete list of what burglars stole from Zabriskie’s home:

• Black 2008 Subaru Outback, Utah plate A189NC
• Black 2006 Toyota Scion, Utah plate 094VWM
• Giro D Italia Race Medal (approx. 6″ circumference)
• Olympic Seiko watch
• Beijing Olympic ring (silver) with initials “DZ” engraved ($4,000)
• Olympic Time Trial Bike, plus 12 other bikes (combined value of $100,000)
• Cervelo (black/red) bike frame - team issued ($5000)
• Tag Heuer watch ($6,000)
• Bose Speaker/Receiver System ($15,000)
• Sony 52″ flat screen TV ($4,000)
• Two Mac Books and one Mac desktop, plus hard drive ($8,000)
• A pair of Space legs, a recovery compression system for legs ($5,000)
• 7 Marvel sideshow statues** ($11,000)

I can’t decide which is harder to fathom—owning $100,000 in bikes or having all 13 of them stolen.

Later on the 24th, Zabriskie posted this note to his 8,495 Twitter followers:

If anyone out there sees anything you think might be mine, let me know. Thanks…DZ

Let’s hope that Zabriskie’s got a robust homeowners insurance policy. Unless those items are recovered, that’s going to be one rather large claim.

* At least he can say he beat Lance.
** According to VeloNews, the journal of record for the cycling world, the stolen statues included: “Hellboy” pistol figurine, “Ash”Army of Darkness, “Tomb Raider” Lara Croft, “The Punisher,” “Alien,” “Ironman” Limited Edition, and a “Gears of War” character.

Once used in times of war to treat wounded soldiers, medicinal maggots are making a comeback in modern medicine, healing wounds that might otherwise never heal—and saving a wad of cash on medical bills in the process.

If you’ve ever seen the movie Gladiator, you know medicinal maggot treatment originated in Rome, where the healing properties these miracle workers lend were discovered in ancient times.

When placed directly on an infected site, medicinal maggots, or tiny “microsurgeons” as some call them, do what surgeons can’t: go directly into infected tissue and secrete enzymes that dissolve dead tissue, kill bacteria and stimulate healing.

The creatures work quickly, clearing infection within 72 hours. And they cost much less than other, more traditional medical treatments, running around $100 per application.

Though maggot treatment stalled in the 1940s with the advent of modern antibiotics, its resurgence has caused some stir in the medical community—and some professional organizations, like the American Medical Association (AMA), now endorse their use as viable treatment, especially in cases where healing or open sores are a problem (as with diabetics and those with foreign masses, like brain tumors).

With successful results and recent medical endorsement, experts say it’s only a matter of time until health insurance companies begin covering this non-conventional treatment. In fact, in late 2008 the AMA outlined new guidelines for patient reimbursement following maggot treatment, paving the way for maggot therapy as a covered health insurance benefit.

For more information on medicinal maggot treatment, see our article, “Medicinal Maggots and Health Insurance.” Meanwhile, feel free to leave us your comments on this non-traditional therapy below.

The average Joe buys insurance to protect his house, car and any other items of value he happens to own.

But mostly, he buys insurance because the law requires it. He can’t buy a house without homeowners insurance and he can’t drive a car—at least lawfully—without auto insurance.

But when it comes to the wealthy, insurance is a whole different matter.

People with money have a lot more to lose than the population in general. For instance, investments like boats, furs and expensive art or antique collections are often irreplaceable—and one incident of damage could result in financial loss the likes of which most of us will never suffer.

Insurance policies of the rich and famous reflect these differences by protecting that valuable, insurable interest.

But the rich don’t just insure possessions; sometimes they insure strange, valuable items like body parts too.

What?? Did you say body parts?

Indeed! Because famous, well-to-do personalities often rely on distinctive physical features to support themselves in the lifestyles to which they become accustomed, multi-million dollar insurance policies fit the bill when it comes to protecting their investment in those famous, svelte legs or well-developed pitching arm.

To read about some of the wacky things the wealthy insure and find out how their insurance needs differ from everyone else’s, get the scoop here.

Ever wonder how gravity-defying daredevils get insurance?

As you might imagine, many health and life insurers balk at offering individual coverage to these Evel Knievel types. Realizing this, a lot of extreme athletes resort to lying about their day jobs and, subsequently, about the cause of their injuries:

“A lot of them have fallen off curbs and hurt themselves,” skateboarder Biker Sherlock told the LA Times. (That, of course, is insurance fraud, which is a big no-no.)

The honest, when they can get covered, must pay incredibly steep rates. A BMX biker referenced in the same LA Times article pays $650 a month. (Multiply that times 12 and you can subtract your retirement.) Still, going without insurance in such a profession would be to tempt a much more expensive fate.

Travel insurance—for the thrill-seeking jet setter.
Rafting in Costa Rica. Skydiving in South Africa. Spelunking in Borneo. If you dabble in extreme sports during your vacations, it’s a good idea to make sure you’re covered in the event of an accident. There’s simply no such thing as a cheap medical evacuation—they run the gamut from ridiculously costly to ruinously expensive.

But check with your health insurance company before you purchase a travel insurance policy—you may or may not retain medical coverage when you leave the country.

The Consumers Union, which publishes Consumer Reports, offers some tips for buying travel insurance: “Reading the fine print is essential. For example, some policies will evacuate you to the ‘nearest appropriate hospital’ at the company’s discretion, while better ones provide evacuation to ‘hospital of choice’ at the policyholder’s discretion.”

The National Association of Insurance Commissioners wisely suggests getting a recommendation from a travel agent—they have the most experience with travel insurers and likely have the inside scoop on which ones are reliable.

Photo credit:  http://flickr.com/photos/djenan/

Here’s Kobe Bryant selling his line of … ankle insurance policies.

Remember, kids: “Broken ankles can strike anywhere, at any time. They can happen to anyone, and they can strike anwywhere … at any time.”

After you get your ankles covered, you might consider insuring yourself against the risk of a robot attack.

Hat tip: Megan Mahan, Insurance Blogger Emeritus

A little off-the-beaten-path insurance news today:

According to an AP story (made available today on InsuranceJournal.com), a national company that insured Montana’s jockeys (and no, I’m not talking about underpants) has dropped coverage on all four of the state’s race tracks. The Montana tracks were just four of 19 tracks in the U.S. that lost jockey coverage, said Scot Meader who is the director of the Missoula County Fairgrounds in Montana.

The news has been made especially bittersweet as Montana’s governor recently included $350,000 in the state’s two-year budget for horse racing.

Even if another insurer stepped in to insure the jockeys, chances are the policy premiums would be much too steep. According to the AP, Meader received one quote from a California insurer who put premiums as high as $8,000 to $10,000 per day, compared with $2,000 per race day for this year. Accident deductibles have also jumped, which hits the Missoula track in a soft spot as they’ve had “quite a few jockey injuries and claims in the past five years.”

Horse racing has been approved for 2006 reports the AP, but the state has yet to make a formal decision about the 2007 racing season; the Missoula County Fair Commission has asked Meader to try and secure another jockey insurance provider.

For now, the four Montana tracks will work together to find a jockey insurance provider. In the meantime, the future of Montana horse racing will hang in the balance. Buck Smith, who is chairman of the fair commission, told the AP that come January, “If we’ve exhausted every possibility for jockey insurance and there is none, there is no decision to be made.”

Race lovers can check out the full story courtesy of IJ, here. (And yes, our statistician Peter D. moonlights as a jockey.)

Maybe robot insurance isn’t just silly joke fodder.

According to this recent MSN tech article, an estimated 39 million households could include robots by the end of the decade.

CNET also has a great FAQ article about robots. Check it out to learn what robots are doing now, and what they could be doing in the future. It also wouldn’t hurt to learn the difference between a robot and an android. Just for future reference.

With all the new robot technology, I figure there’s got to be some insurer out there calculating the risk of a robot gone haywire. I’ve seen all three Terminator movies. I’m aware of the possibilities.