Kidnapping Coverage: What to Know About Insurance for Kidnappings and Ransoms

Kidnapping Coverage

Those who may be more vulnerable to kidnap or ransom plots are wealthy businessmen, traveling professionals, tourists and families of wealthy individuals. Often, businesses will provide kidnap and ransom packages for employees if they travel often.

What Is Kidnapping Coverage?

Kidnapping insurance can be a standalone policy or you can have it as part of a comprehensive business policy. Kidnapping coverage provides financial protection for businesses and individuals when kidnapping, ransom or extortion results in financial loss.  The policy may pay for the ransom, loss of income or medical care that occurs after the incident. Some policies even cover the losses you may suffer due to injuries, or cosmetic surgeries necessary after an event.

Are There Limitations?

All insurance policies have exclusions, including kidnapping insurance. Most kidnapping insurance policies will not cover you if you travel to a place where the U.S. has sanctions imposed. If you have kidnapping insurance, then you can always discuss your options with a security expert. He or she can inform you where you can and cannot go.

For those with a lot of wealth or those who travel often, you do have to be prepared for anything. Some criminals may try to exploit you or your loved ones. Kidnapping insurance coverage offers peace of mind.