When it comes to celebrity news, we’ve got to admit… We’re not immune. We’ll Google, chat, and share with our friends about the odd actor or singer here and there. It’s understandable when you consider that their every waking moments are captured and posted in our faces 24/7.
For some people, though, celebrities are more than a passing glance on the socials. Quite a few take their inspiration from their famous favourites, from hairstyles to health advice. Whether that’s right or wrong is not for us to say, but what we can weigh in on is their insurance.
You see, even though we often look to celebrities as the ones who get it right, there are times when the rich and famous sometimes miss a step and get it completely wrong. For instance, when they skip on insurance. According to the stories we found about celebs who’ve skipped the insurance step, it’s been a woefully painful financial lesson. And we can all learn the lesson in that… Which is not to avoid getting insurance for our valuables.
Here are a few cautionary tales that show why no one, not even a superstar, is immune from life’s curveballs.
1. Kanye West’s cancelled tour
In 2016, Kanye West cancelled the remainder of his Saint Pablo tour due to exhaustion and personal issues. Totally understandable, but unfortunately, he allegedly didn’t have proper tour cancellation insurance. The result? An estimated $10 million loss. That’s 1 heck of a hard reminder that even performers need insurance for event disruptions.
That’s actually why we ask if you’d like SASRIA cover added to your policy for just a few extra rands. This way, riots and the like, which cause damage to your stuff or your business will be covered.
2. Heidi Klum’s warehouse fire
Klum is famous for a lot of things, including her extravagant Halloween costumes. Sadly, she once lost a large portion of her costume collection to a warehouse fire. The real tragedy is that with no specific cover on the stored items, her meticulously designed costumes went up in smoke without any way of recouping her losses.
At King Price, we always make sure that if you’re taking out our royal insurance and some of your items are on the pricey side, you can cover them for their replacement value. Like our portable possessions cover for items that go out and about with you, which gives you the option to specify the more expensive items.
3. Sean Connery’s uninsured villa
As South Africans, we truly understand the role that home insurance plays in our lives. Accidents happen. Theft happens. LIFE happens. So, we’re saddened to hear that Mr Connery lost millions when his Spanish villa was damaged during legal disputes. Apparently, the issue was that he didn’t have adequate cover for legal risks and construction-related losses.
Guys, this is why our consultants go to so much trouble when it comes to creating your policy. We tell you what’s included, we give you policy docs that unpack everything about your cover in easy-to-read lingo, like whether your stuff is covered against damage by construction crane. Why? Because we get just how much money goes into a home, even if it’s not a fancy villa, and we want you to have the right level of cover for your buildings and your belongings.
The king’s got your back, your bakkie, and your stuff
If celebrities aren’t exempt from disaster, neither are we.
Whether it’s personal belongings, business events, or property, the right insurance is clearly needed by everyone. Not just us ordinary folks. Also, can we just say that our mission is to provide South Africans with affordable insurance that does what it says, and treat you like absolute royalty.
WhatsApp us on 0860 50 50 50 or click here for a commitment-free quote for insurance that you can be sure-sure about, from an insurer who recognises star quality.
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Psst… This blog provides general info only, and doesn’t count as financial or product advice from King Price or our legal and compliance experts. Remember, all our premiums are risk-profile-dependent, and T’s and C’s apply. Our most up-to-date KPPD (policy wording) can always be found here.
Our website T’s and C’s can be found here.
