Lindsay Lohan Insurance Policies: Not Cheap!

Lindsay Lohan will play Elizabeth Taylor in the Lifetime biopic Liz and Dick, but not without a major insurance policy taken out by the network, reports say.

Many fans don't feel that Lindsay has what it takes to play a Hollywood legend of that stature. Lifetime clearly disagrees ... but is also covering its behind.

Producer Larry Thompson went to great lengths to insure his controversial star, E! News confirms. And yes, this happens. More often than you'd think.

"We have more than a Plan B actually," Thompson revealed, "[because] Lindsay Lohan may be the most insured actress that ever walked on a sound stage."

Ouch. Thompson declined to specify what the plan was, but man.

Thompson admitted moving the shooting from Canada to L.A. in order to "minimize some risk" with Lohan, with whom "troubled" has become synonymous.

He's quick to praise her on merit, however, noting that it was Lindsay's softer side of "vulnerability" that got her the part of the highly emotional legend.

"Even if I learn to regret it," he says, "Sitting here today I think it is still for the movie a great risk to run. [Lindsay's] really excited by the challenge"

"She has the right attitude and a noble purpose; it's not like she's going to go do a little job - the responsibility of playing Elizabeth Taylor is large."

The insurance premium on her crazy a$$: also not small.

[Photo: Pacific Coast News]