Everyone knows that we live in a dangerous world, right? Well actually if you look at most major risk factors we are actually much safer than we were 15 years ago. However, some people do live very risky lives and for those people the insurance industry has created the following products.
War Risk Insurance
As you can probably guess by the name, war risk insurance protects individuals and companies from damages caused by war. These types of insurance policies have exploded in size in recent years due to the wars in Iraq and Afghanistan. These policies are very useful if you plan to operate in a war zone but otherwise you probably don’t need this kind of protection.
Terrorism Insurance
What can you do if you are worried about the next 9/11? Well you could consider terrorism insurance which will cover loses related to terrorism. Sounds useful right? Well maybe, but keep in mind that there has been fewer than one terrorism incident a year in the United States over the last 20 years and none since September 11th.
Therefore, the odds are pretty low that you will ever need this kind of insurance. Nevertheless, many people are worried enough about the threat of terrorism to shell out money for it.
Kidnapping Insurance
Finally, if you are an important politician or rich business person there are also insurance products for you. One of the more common types is kidnapping and ransom insurance. Essentially, these policies will cover the costs of paying a ransom if you someone in your family should happen to be kidnapped.
These policies are especially useful if you are operating in dangerous countries or even war zones. But, most people will probably never need one of these policies. Still it is good to know that you could get it if you really wanted it.
Well there you have it a few insurance products that can help you in this dangerous world. However, if you are like most Americans you should probably just focus on getting basic insurance products like auto insurance, life insurance, health insurance and home insurance.
