Specialty Insurance Key Terms

Branch out in insurance sales by exploring specialty insurance key terms

Insurance coverage options first appear on the market as specialty insurance as a result of rising liability trends. More and more, businesses are wise to protect themselves from liability and loss as an increasing number of scenarios demand insurance coverage options. Without insurance, people and businesses have very few options for recouping from unexpected setbacks. Get to know the details behind some of the market's nontraditional insurance coverage options with specialty insurance key terms.

 

Identity theft insurance

Identity theft insurance is a concern for everyone, as the possibility of credit card, bank number and similar thefts are increasing. Identity theft insurance does not protect the consumer from getting their identity stolen but it does help them recover should a theft occur.
Try: The American International Group defines identity theft insurance. IdentityTheftSentry.com discusses what is typically offered with identity theft insurance policies.

Pet insurance

Specialty insurance companies also handle pet insurance, offering coverage of medical expenses for pets.
Try: Pets Best Insurance Services provides answers to some of the most asked questions about pet insurance. Embrace Pet Insurance is a great resource for understanding what pet insurance is, what it covers and other pet insurance tips.

Travel insurance

Travel insurance provides relief in several different travel concern areas, including medical needs while traveling, accidental death, trip cancellation coverage and baggage loss.
Try: The Insurance Information Institute explores travel insurance and talks about each of the different kinds that are offered as a specialty insurance.

Title insurance

Consumers seek out title insurance from specialty insurance companies to protect them in the event of a mishap with business or residential property titles.
Try: The Mortgage Professor website provides a definition and information to aid in thoroughly understanding title insurance. To learn more about what title insurance covers, visit the California Department of Insurance website.

Umbrella insurance

Consumers often seek out an umbrella insurance policy for businesses or personal applications in order to increase existing insurance coverage. This type of policy increases coverage on different policies already in place, providing financial protection that exceeds the limits on those policies or covering areas that are not already covered.
Try: Better Business Insurance defines umbrella insurance. Explore umbrella insurance policies specifically for businesses at Buzzle.

Special event insurance

Special events require special insurance coverage that many people overlook. Special event insurance handles concerns of financial liability for the entirety of a single or recurring event. This coverage can include equipment, vendor coverage, event cancellation and special guests.
Try: Supple-Merrill & Driscoll explains the intricacies of the various aspects covered under special event insurance. Wells Publishing talks specifically to agents about special event insurance.

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