Specialty Insurance: What Types Are There?

By Kyle Fitzsimmons, InsuranceAgents.com Staff Writer

Multiple Types Of Specialty Insurance Available

Most insurance policies cover you in a general manner but if you’re looking for more specific coverage then you might want to look into specialty insurance. Whether you are trying to save money by targeting smaller coverage for your more specific needs or your needs just don’t show up on any of the general policies your insurance company offers, specialty insurance has a wide array of policy options that you might find helpful.  Sometimes, getting specialty insurance can assist you in lowering your primary insurance coverages: home, car, etc.  Rather than getting insurance quotes for riders added to your insurance policy, you can check to see if there are specialty insurance policies that provide better, less expensive coverage.

Specialty insurance is an umbrella term that encompasses many various specific types of insurance for your many needs. The following is a list of several of those needs:

1. Travel insurance – Although relaxing and fun, vacations are a costly investment that can go wrong since you are oftentimes stepping outside of your comfort zone and venturing into strange and unfamiliar territory. This type of specialty insurance will cover you before you even start your trip. If you have to cancel for any reason, your travel tickets will be reimbursed. Also covered are your baggage and personal effects should they be lost, damaged, or stolen on your trip. Lastly, should the unmentionable take place and you or a member of your party require emergency medical assistance, travel insurance will cover you on that end as well.  While you're traveling you can also consider additional coverage for your rental car, ask about car insurance quotes for rental vehicles.
2. Identity theft insurance – The number of individuals negatively affected by stolen identity is astronomical and always rising. Whether through high-tech or traditional means, your credit card or debit card number can be stolen and used against you. Some general insurance policies cover identity theft but if not, you will want to be sure you are covered with this specialty insurance so you can be reimbursed for any expenses associated with stolen identity.
3. Pet insurance - This form of specialty insurance works like human health insurance only for our friends in the animal kingdom that we call our pets. The premium depends on the pet’s age, coverage, type, and region of the country in which it resides.
4. Computer insurance – Whether it is hardware of software related, there is a laundry list of potential problems that your computer can face that can adversely affect its efficiency. Computer insurance is a form of specialty insurance that you might find helpful should something happen to your expensive box ‘o technology.

Supplemental to the items listed above, you can find specialty insurance in the realms of boating, motorcycling, weddings, etc.

Specialty Insurance Covers Whatever Need You May Have

So whether it is replacing lost luggage on a vacation or getting your golden retriever neutered, specialty insurance can cover you in just about any situation you could ever possibly find yourself in.

Published: Monday 13th July 2009