ASCO Insurance Services can protect your business as well as your personal exposures through our customized insurance coverages.
Specialty Insurance Products
- Construction Insurance
- Data Breach Insurance
- Management Liability
- Restaurant Insurance
- Garage Liability Insurance
Have you heard of specialty insurance agencies or specialty insurance coverage?
In the simplest terms, specialty insurance is coverage that can be obtained for business industries, items or events that have unique insurance needs.
Businesses may require special types of insurance policies that insure against specific types of risks.
Vehicles that aren’t covered under standard auto insurance policies such as boats, jet-skis, classic cars, motorcycles, recreational vehicles (RVs) all-terrain vehicles (ATVs) and high-value homes and rentals generally require specialty insurance policies.
Flood insurance – which is typically not included in homeowners’ or renters’ insurance policies – is also considered specialty insurance.
What is Specialty Insurance?
Specialty insurance is a term for insurance that covers special and unique items that are not covered under typical insurance policies.
Specialty insurance agents have a unique depth of knowledge that they focus on in order to ensure that your unique business, valuable items and property are correctly insured.
Why Do You Need a Specialty Insurance Agency?
Many businesses and industries require specialized policies and coverage to be properly insured. Contractors need to be protected from liability and the unique and often elevated risks associated in construction. Data breaches and are becoming increasingly common and can result in large losses to your company, which is why data breach insurance can protect you. Owning and operating a restaurant poses unique risks and exposures that require specialized restaurant insurance bundles.
If you have unique items like classic cars, expensive or rare fine jewelry, a high-value home or rental, high-value collections of coins or other collectibles, or anything else that falls outside the realm of a standard insurance policy, you’ll want to speak with a specialty insurance agent in order to make sure that your special item or items are properly covered.
This segment of the insurance industry covers more complicated or unusual items or properties; specialty insurance agents and agencies focus on these special cases because the underwriting, rating, and claims require a high degree of knowledge, expertise, and experience.
What Other Types of Insurance Are Related to Specialty Insurance?
Specialty insurance is a unique category all on its own, but commercial insurance and personal insurance policies are the basis and foundation upon which specialty insurance policies or riders are built upon.
Contact an ASCO Insurance agent to learn more about the different types of specialty insurance.