Aside from the occasional commercials featuring claims adjusters jumping out of airplanes to get to the scene of an accident, most images conjured by the word "insurance" are pretty mundane. But when celebrities, corporations, and the slightly crazy buy insurance, things can get downright wacky.

Insurance in outer space

Those who are worried about unexpected trips to outer space can buy alien-abduction insurance. The policy would provide $10 million to cover medical and psychiatric care, not to mention sarcasm from friends and relatives, and $20 million if the aliens insist on conjugal visits. According to UFO Abduction & Casualty Insurance Co., "You can't be turned down regardless of age or frequent-flyer status...only if you don't have a sense of humor."

Last year the Russian space station Mir was insured for $1.5 million as it fell from space into the Pacific Ocean, and if you're worried about being hit in a fall from space by a more mundane item — a mere satellite perhaps — people have purchased insurance policies to protect against that possibility.

Although it only went to space cinematically, the Starship Enterprise, probably one of Hollywood's most elaborate props, was insured by the Fireman's Fund Insurance Co. during the filming of Star Trek, The Motion Picture against "almost any imaginable peril" under one of the biggest movie-production policies ever written.

Another not-quite spacecraft, the supersonic car used to set the world land speed record of 763 mph in 1997, was insured by Lloyd's. Of course the policy only protected the jet-propelled car while it was en route to Nevada and set up in preparation for the record attempt. Once the engines were turned on, all bets were off.

Legs, legs, legs

In addition to the policies celebrities buy that seem like common sense — such as performance-cancellation coverage and insurance on high-priced equipment — a growing number of stars are buying insurance on their body parts.

Insuring one's legs is long-standing tradition of entertainment insurance. Pop diva Tina Turner currently insures her legs for a sum that is "quite large," possibly surpassing Entertainment Tonight co-host Mary Hart, whose legs are insured for $1 million each, says Peter Moraga, a spokesperson for the Insurance Information Network of California.

"Leg insurance" likely started with Betty Grable, whose "million-dollar legs" were in fact insured for that amount. Fred Astaire also insured his legs, but for a more modest sum — a mere $75,000 per leg, with an additional $20,000 of insurance on his wrists and arms.

Famous faces

The phenomenon of insuring body parts probably all started with Ben Turpin, the silent movie star who bought a $20,000 policy in the 1920s to insure against his signature crossed eyes going straight, says Moraga. Not long thereafter, in the 1940s, Jimmy Durante insured his signature "schnozzola" — a rather prodigious proboscis — for $50,000, and raspy German bombshell Marlene Dietrich bought a $1 million policy on her voice.

Insuring voices has remained popular with celebrities since then. According to Moraga, Bruce Springsteen has a $6 million policy on his, as does Rod Stewart — although not on his somewhat signature nose.

Lloyd's of London boasts of insuring that the hair of South African actress Kerry Wallace would grow back after she shaved her head to promote a Star Trek movie.

Moving away from faces, in the 1980s actress and country singer Dolly Parton purchased a $600,000 policy to insure her 42-inch chest, and in the 1940s and '50s Bette Davis had a $28,000 policy insuring her against weight gain.

Marilyn Monroe may have been the first star to be insured against drug use, says Moraga. No fewer than three movie studios purchased policies to protect against losses if the star's drug use interfered with filming schedules.

The producers of Ally McBeal are probably grateful for the precedent. It allowed them to insure against Robert Downey Jr.'s similar difficulties.

German Supermodel Heidi Klum recently insured her legs for $1 million while she promoted a new hair-care product for the Braun Corporation. The price tag was in proportion to her legs length, shape, rarity and commercial value , according to London auction house Phillips De Pury & Company which assessed their value and set up the insurance policy.

Contrary to rumors, the most highly insured body probably isn't Jennifer Lopez. The singer and actress denied a New York Post report that she had insured her body for $1 billion. Jonathan Thomas confirms Lopez' ascertain saying it's a "myth" that Jennifer Lopez has insured her precious "bottom" for astronomical amounts of money. Thomas has one of the highest profile positions in the insurance world today. He's Lloyd's celebrity/body parts active underwriter. Therefore, Thomas is well positioned to squelch certain celebrity rumors. That myth leaves the largest body part insurance policy title a tie between Betty Grable and Marlene Dietrich, whose $1 million policies would be worth between $10 and $12 million today.

Sports celebrities are a unique breed

Sports teams take an all-or-nothing approach. Why just insure a part when you can insure the whole package? These teams, rather than insuring their main attractions' body parts, just take out special disability insurance on the athlete himself -- like the St. Louis Cardinals did with a $12 million disability policy on now retired Mark McGwire. Its not known if there was a provision regarding steroid use, but in either case sterioids were legal in baseball during McGwires playing days.

Of course, some athletes are so successful -- and so rich -- that they are beyond insurance. Golfer Tiger Woods, for example, makes so much money that to insure himself against injury would cost him $10 million to $20 million a year, more than he made in 2002 from golf. Most of his money, more than $69 million a year, comes from endorsements.

It's a tough job, but they're insured to do it

The incredibly famous aren't the only ones who insure their body parts, says Moraga. Food critic and gourmet Egon Ronay bought a $400,000 insurance policy on his taste buds. The chief taster for Dreyer's Grand Ice Cream also insured his good taste, or at least his tasting ability, in the amount of $1 million.

Lloyd's issued an almost equally "tasteful" insurance policy to a whiskey distiller who insured his nose.

Another item insured by Lloyd's: the world's largest cigar (weighing almost 240 lbs.) which took 315 hours to make using 15,903 full tobacco leaves and which would require 339 uninterrupted days and nights to smoke.

Companies insure the oddest things

The TV game show Who Wants to be a Millionaire doesn't want to be the one to make you rich, so they insure against having to pay major prizes through Lloyd's.

Cutty Sark whiskey also bought a policy from Lloyd's so it wouldn't risk paying $1.5 million to the winner of a contest.

What was the whiskey company afraid of?

That someone might capture the Loch Ness monster alive.

And speaking of insurance on mythical creatures, the Ringling Bros. and Barnum & Bailey circus once bought a policy insuring against nonperformance due to illness or death on a "unicorn." The circus also bought a similar insurance policy on the elephant who took a turn at predicting the end of winter in 1998 on Groundhog Day in New York City the 14,000-pound Mighty King Tusk.

Residents of northern Australia can purchase insurance against being attacked by crocodiles, but it isn't known whether Steve Irwin, better known as the Crocodile Hunter, or Paul Hogan, a.k.a Crocodile Dundee, ever bought such a policy.

"Take this job and shove it" insurance

British employers can insure against employees winning the lottery. Lloyd's offers an insurance policy that will pay between $40,000 and $760,000 to cover the costs of temps and recruiting new employees if more than two workers quit within 14 days of winning more than $150,000 in the U.K. national lottery.

Other business policies that have been issued by Lloyd's include one that would reimburse a company for the costs of defending against a hostile takeover bid and insurance against being audited by the British version of the IRS.

A sensible precaution

Lloyd's underwriters, while they will insure almost any risk, don't take reckless business risks themselves. For example, the policy for the 20-year-old merchant navy officer who sailed the English Channel in a bathtub was issued only on one condition: The bathtub plug had to remain in place the entire trip.