Specialty Insurance Basics

Business.com / Insurance / Last Modified: February 22, 2017

Specialty insurance is necessary for items not covered by your ordinary home owners or automobile insurance. This can include but is ...

Specialty insurance is necessary for items not covered by your ordinary home owners or automobile insurance. This can include but is not limited to flood coverage, identity theft insurance, mobile home coverage, motorcycle insurance, personal watercraft coverage, boat insurance, pet insurance, private mortgage insurance, travel insurance, title insurance or renters insurance.

Other cases of specialty insurance include insurance for unique items such as actor and actresses who insure their body parts (the ones that are considered their best assets and their money makers), or insurance for a particular project or event that you are spearheading. Specialty insurance for business can also include insuring your entire inventory in case of a fire or theft.

To make the most of specialty insurance basics:

1. Begin by understanding the different types of specialty insurance.

2. Check out various specialty insurance companies.

3. Take a look at the latest specialty insurance coverage and industry news and information.

Start with basic information on insurance for special needs

Look at definition information on insurance for special needs as well as how to choose the different types of specialty business insurance.

Check out various specialty insurance companies

Take a look at specialty insurance providers to see the variety of policies that they carry. From something obscure like waterbed insurance to a specialty policy for your business, seek out a specialty insurance company that can answer your questions thoroughly.

Find out the latest news on specialty insurance

Keep up on the most up-to-date information on insurance for special needs. Find out about what specialty insurance other providers are offering and what trends are affecting the industry.
  • When pricing specialty insurance, be sure and ask for a quote from your current insurance provider. If a competitor comes back with a lower quote for the same service, take that back to your service provider to see if they can potentially match the competitor.

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