Last Updated on Mar 21, 2022 by Anshiya Tabassum

Insurance helps protect you against the uncertainties of life by transferring the risk from you (the policyholder) to the insurance company (the policy writer). Typically insurance policies have focused on risks arising from significant events in your life, such as critical illness or death.

Termed as ‘pocket insurance’, a slew of economical insurance policies have been launched in the last few years. These are customized to address any risk factors arising from your specific lifestyle. If Cristiano Ronaldo can insure his legs for a whooping sum of $144 mn., you should be able to protect yourself from any uncertainty life throws at you.

India’s life insurance penetration touched 3.2% in FY 2021, while non-life insurance penetration stood merely at 1%. While the endlessly raging Covid pandemic highlighted the importance of having a sufficient term life and health insurance cover, India has various unique insurance policies. 

We bet you won’t know that some of these actually existed! Let’s dive in!

This article covers:

Wedding insurance

The pandemic brought out uncertainty in people’s lives with respect to their careers, health, and personal plans. The ever-changing government regulations and lockdowns also implied that weddings and celebrations were canceled on short notice after all the time, effort, and money spent on planning. 

This insurance protects you against the unexpected cancellation or postponement of the wedding due to death or illness of the named persons, fire or burglary, or any other man-made or natural perils that may be specified in the policy.

The cover for this policy is determined based on the advance paid to caterers, decorators, and hotel bookings. 

Being a nearly $50 industry, Weddings remained the worst hit from the pandemic. With different covid-19 variants on the rise, this insurance can come in very handy. So if you or your close family members are planning a big fat Indian wedding, you may want to consider getting wedding insurance to protect yourself from the monetary losses associated with the potential cancellation of the wedding ceremony.

Handbag insurance and designer clothes insurance

Does ‘Bagvati’ ring a bell? (That’s a Zindagi Na Milegi Dobara reference) 

Insurance companies recognize the importance handbags hold – from the handbag itself to the important personal documents, cash, and cards it holds. This insurance will protect you against the loss, damage, or theft of your handbag and its contents. 

So now, you can also get your own ‘Bagvati’ insured!

Similarly, designer clothing pieces are often custom-made and of high value. You can also get insurance to protect from the damage or theft of your expensive, luxury clothing pieces.

Football fitness insurance

Well, you may have heard of insurance covers protecting you in case of any adverse events while doing adventure sports – but this unique insurance is for all football enthusiasts! 

An insurance company has launched a policy that covers the cost of the injury while playing on artificial turfs. Players who book football turfs may or may not have adequate fitness levels and often incur injuries such as ligament tears and others. These injuries are treated in the OPD department and hence not covered under your standard health covers.

The next time you book a game at the 450+ turfs in India’s top cities, you may not have the assurance of who will win the game, but you can be rest assured that your health expenses will be taken off with this innovative insurance policy.

Personal cyber security insurance

We are increasingly spending more time in the digital world than in the physical world, and the pandemic only further accelerated this. While this opens up a whole new world of opportunities for us, it makes our digital identity, transactions, and privacy more important than it has ever been.

Personal cyber security policies protect you from losses arising due to extortion via the internet, any unintended broadcasting when your social media is hacked, or against funds transfer due to unauthorized access to your bank accounts.

Pet Insurance

Hey, when you can take an insurance policy to cover your loved ones – why not include your darling pets as well? Various insurance companies have started offering policies to cover the costs of treating your pets so you can focus on getting the best treatment for your companion!

It may surprise you that many celebrities abroad have their bodies insured. Also, a few Indian singers like Lata Mangeshkar have gotten their voices insured! Even shows like KBC have price money insured! Insurance companies are bound to pay the winners any amount above Rs. 25 lakh. If a contestant wins Rs. 50 lakh, KBC is liable to pay only Rs. 25 lakh. The insurance companies bear the rest! 

The list is endless and only gets more interesting. 


While traditionally seen as boring and complicated, insurance companies are increasingly keeping pace with the evolving customer needs. These customized, niche policies are designed to address challenges you face in your daily life rather than reserved for significant events in your life.

Next time you anticipate uncertainty in your life, try looking for insurance and you may find one that addresses your specific situation!

Aradhana Gotur

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