When bad things happen to rich people

Far Out Fridays: When misfortune happens to people with large fortunes, sometimes mere paintings can smudge your loss ratios. Take the following examples, drawn from Steven Bertoni of Forbes Magazine (who credits Chartis Insurance as his source).

Domino theory
A painting worth more than $50 million fell off the wall. It landed on an 18th-century chest of drawers valued at $4 million, cracking the marble top. While falling, the painting knocked a $6-million Rodin bronze and a pair of 18th-century porcelain candelabras onto the floor. After the arm of the Rodin broke off, it pierced a $1-million carpet, denting the floor beneath.

Scratching post
“A very large painting hanging in a dining room had unusual and unexplained wear in the lower-right corner,” Bertoni writes. “Turns out the family's St. Bernard would run behind the table, brush up against the painting and run out again – about 20 times a day.”

Applying the heat
A man wanted to dry the rear floor mat of his Porsche – with a leaf blower. He positioned the leaf-blower on the seat, aiming it at the floor, and checked in periodically throughout the morning to see if the mat was dry. After hearing a noise from the garage, he saw that his Porsche had gone up in smoke. The leaf blower had set the rear passenger mat and seat on fire.

Warming up the Warhol
“A Warhol painting was hung above a fireplace,” Bertoni writes. “The painting eventually melted, resulting in a multimillion-dollar claim.”

Don’t brick the Bentley
The owner of a 2005 Bentley Continental was unable to start his car after not driving it for several months. He figured that the fastest way to charge the dead battery would be to keep the engine running at a high rpm. With the car in the garage, he put a brick on the gas pedal to rev the engine up to its redline limits. He then went to go after a shower. When he returned 20 minutes later, the overheated engine in the now-totalled car had seized and oil was spewing.

Finger-licking claim
A tycoon cooks a single chicken breast in a deep fryer designed to cook whole turkeys. He sets up the deep fryer in his basement, drops in the chicken breast, and decides to take the dog for a walk while waiting for the chicken to cook. The deep fryer bubbles over, sparks a fire, and the tycoon makes an insurance claim for the $1-million loss.

Keep up with the latest news and events

Join our mailing list, it’s free!