The 30-year-old singer's management decided to take out a policy to protect his vocal chords last week, reported Daily Mirror online.
"Insurance for stars is a big deal in the US and Adam's voice is his bacon. He had it insured last week," a source said.
Lambert joins a host of other stars who are rumoured to have insured their body parts. Mariah Carey is said to have taken out a 622 million pounds policy to cover her legs, while Dolly Parton has allegedly insured her chest for 373,000 pounds.
Over the summer, Lambert collaborated with Queen and played a series of dates at the HMV Hammersmith Apollo. He also took to Twitter to reassure fans that he will be touring in support of his latest LP Trespassing "when the time is right".
It was recently revealed that the singer, who finished as runner-up in the eighth season of American Idol, will make a guest appearance in hit US show 'Pretty Little Liars' next month.