Watch out for UFOs – or insure against abduction
The Australian Consumers’ Association (ACA) has published a list of “junk insurance”, which details a range of bizarre insurance policies on the market.
Cover against alien abductions, space travel and crocodile attacks are some of the stranger policies listed, but the ACA also includes less unusual types of cover, for which it warns consumers to “read the fine print”.
Mobile phone insurance is one such example. The ACA warns consumers “exclusions and fine print can prevent you from making claims in many situations”.
Pet insurance also makes the list, with the ACA warning it can be expensive and cover can be limited.
As an alternative to crocodile attack insurance, the ACA suggests life insurance as a serious option. But for only $10 the Territory Insurance Office will issue a policy with a picture of a rabid-looking crocodile chewing on a tree.