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.

Pet insurance

Specialty insurance companies also handle pet insurance, offering coverage of medical expenses for pets.

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.

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.
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.

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.

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