Some people though, need a more specific insurance policy to help insure against things which may be a vital asset of how they earn a living such as their voice or a body part.
These policies are mainly taken up by celebrities to guard against a career-ending injury and though the list below has no indication of the premiums being charged, we can assume that the insurance policies will not be cheap.
Perhaps the most famous person who initially took up an unusual insurance policy was the film star and 1940s pin up Betty Grable.
Her studio insured her legs for £1 million each in a policy arranged with Lloyd’s of London which led to her becoming known as ‘the girl with million dollar legs’.
If she was to take out the same policy today, it would cost her studio a little bit more – in fact around £25 million more!
The world of showbiz provides a number of interesting insurance policies being created for specific purposes.
For instance, the popular TV presenting duo Ant and Dec have reportedly insured themselves against the death of each other, with the beneficiary set to receive several million pounds in the event of the other’s demise.
Comedian Ken Dodd has insured his famous trademark teeth for £4 million against damage.
With Ken Dodd’s teeth being almost as famous as he is, they underline how important a body part can be to a career.
Among those preparing for the worst is Rolling Stones guitarist Keith Richards who has reportedly insured his hands for around £2 million and the dancer Michael Flatley hit the headlines when he took out the world’s highest ever insurance policy for a dancer’s legs.
Mr Flatley, famous for his Riverdance and Lord of the Dance shows, apparently has a policy worth £31 million.
They are joined by the singer Bruce Springsteen, famously known as The Boss, who has insured his voice for £3 million.
It’s not always so straightforward to get such insurance policies as insurers may decide to take a closer look at what they are actually insuring.
This is what happened to the model Heidi Klum who insured her legs for around £1.2 million but an inspection found a small scar on her left leg which, insurers said, made it worth £100,000 less than her right leg.
Some policies are more difficult to prepare and you’d have to feel sorry for those who drew up the policy for American comedian Rich Hall taking out insurance for £1 million against himself suffering from a permanent loss of humour.