Niche insurance is insurance provided for small, low-demand markets. It is outside of the usual insurance types available, such as automobile, home, life, travel, and business insurance, and can be very difficult to obtain.[citation needed]
A few examples are:
In these circumstances, a specialist insurer is required for these niche areas. The specialist may have expert knowledge of the particular risk or can provide policies which have been tailored to fit the need. Often, approaching others with similar circumstances in internet forums, associations or competitors in the same trade can help track down these niche products.[citation needed]
Several celebrities and porn stars have had their penises underwritten in amounts exceeding one million dollars, including Van Halen frontman David Lee Roth,[7] and pornographic actor Keiran Lee[8] – both of whom had their penises underwritten by Lloyd's of London, also known for insuring other body parts including the vocal cords of Bruce Springsteen.[9]
In 2000, three sisters from Inverness took out a £1 million insurance policy to cover the cost of bringing up the infant Jesus Christ in the event of a Second Coming and virgin birth. The company that provided this policy, Braintree, Essex-based company britishinsurance.com, withdrew the cover in June 2006, stating that Catholic groups had complained.[10]