You might think I’m about to rant about how celebs use copyright laws to protect their intellectual property, and you should too.
Now, why would a Life Major care about a post regarding celebrities and their insurance wellbeing? As long as your own premiums are paid on time, who cares about someone else’s policy. Things are all good. But, then life happens.
Celebs, like us, are humans. They make mistakes. And, life happens to them, too! Ask almost any insurance professional who has been in the game for a while, and they’ll let you know that insurance covers “stupidity” or ignorance (not just accidents and unforeseen circumstances).
I was taught in insurance school that insurance covers “stupidity” or ignorance (not just accidents and unforeseen circumstances).
Below, I use the real-life examples of three celebs to show that bad things can happen to anyone and how to prevent them or at least be proactive and hack them:
Protect Your Home & Auto – Example 1: Akon
Known for hits such as “Don’t Matter” and featured in tracks with other well-known singers, Akon was targeted as the latest victim of a celebrity burglary, as reported by TMZ. The singer was out of the U.S. when his Tesla was stolen from his garage.
Thankfully, the thieves were not smart enough for a vehicle that protects itself.
This particular claim would be handled by Akon’s auto insurance policy, assuming that he has a robust policy, his auto’s going to be okay.
But, what lessons can we (non-celebs, I assume) learn about this incident?
- Double check your locks, doors, and other forms of entry before leaving the country (or your house for that matter). Reports state that Akon’s garage door was left open at the time of the theft. It might seem like common sense, but how many times have you left a home or vehicle and worry about whether or not you locked it or not? I double-check my auto, even if I think I locked it.
- Don’t leave your keys in your car. Again, don’t make it easy for the thieves.
- Important: Don’t post on social media your current location or update your photos while away from your home. When I go out-of-town, I take all the photos I can and update them once home so that the criminals don’t know I’m away from my domain.
Protect Your Belongings – Example 2: Kim K.
I do not need to say much about this incident. A violent break-in, hostage situation, and yet another theft. My claims professional mind kicked in when this happened to Kim. I wondered if the social media star had a kidnapping policy in place, a personal valuable articles policy in place, and a new security guard.
Kim K.’s incident no matter the theories and conspiracies are scary for anyone who plans to travel overseas with their precious belongings. When you start getting wanderlust consider these things to prevent a similar situation from happening to you.
When you start getting wanderlust consider these things to prevent a similar situation from happening to you:
- Be cautious of the area and follow the unspoken rules set in place for tourists. When I was a kid on a trip in NYC, I was told to keep my belongings at the hotel, and only leave the room with my essential items kept in my pockets, never in bags or purses.
- If you leave things in the hotel, keep a good inventory of your belongings, especially jewelry. Try taking pictures of where you keep your belongings, including your suitcase. When you return to your room, if anything looks out-of-place, let the front desk know right away. It’s better to be paranoid than poor.
- Keep high-priced items off of social media, and away from sticky fingers. Sometimes, we get excited over our souvenirs or gifts, such as engagement rings or cameras. Just remember that whatever you share with the world is free for the world to take too if they’re sneaky enough.
Protect Your Event – Example 3: Kanye West
I’m not trying to double dip, but his health crisis last year led to a loss in ticket sales for a number of booked concerts. But, hopefully, his insurance policy took care of his losses. Situations such as illnesses or something as complicated as pregnancy (Beyoncé?) can put a damper on events that cost a lot of money and are planned at a future date.
Now, you’re not a celeb getting ready to hit the stage and rap your heart out for your fans. But, you might be planning a small speaking event with a panel of experts or your own wedding!
You may need a special event policy. I never knew these things existed until my third year as an insurance professional. Things such as golf tournaments can be canceled due to weather, but if a policy is in place it could become covered, even if the event didn’t take place.
So, here’re some more tips as far as events go:
- Plan for the event, prepare not to hold it. Weather (i.e. hurricanes or snow storms, depending on the region), illness, and/or cancellations need to be taken into consideration, the last thing you need to do is cancel your plans after you dished out big money for deposits that are non-refundable.
- Double check with your agent what’s covered and what’s not covered, and make sure you know your deductibles.
- Have fun. Planning weddings, parties, and big events are stressful and usually, whoever throws it, ends up not enjoying themselves. Don’t be a party-pooper at your own party. Enjoy it and soak up the good memories.
Whether you’re not a celeb or an insurance savvy professional, you have every right to protect your belongings and learn from others unfortunate events.
Do you have any tips or hacks that weren’t mentioned in this article, let me know in the comments below.