What is Specialty Insurance and When is it Needed?

One of the most common questions asked when policy seekers hear about the different types of coverage is, “What is specialty insurance and why do I need it?” To put it simply, it is exactly as it sounds, insurance that covers unique or special items that are not generally covered under regular policies.

Consider the items you know are currently covered under your regular policy. While homeowner’s insurance may cover your house and some of your things inside it, it does not cover the fact that some items may be worth more than the house itself. Likewise, your automobile policy may cover your truck that you drive to work daily, but it may not cover that antique car you have sitting in your garage, or the ATV in your shed. Other items that are often forgotten about are motorcycles, travel trailers and recreational vehicles.

The next time someone asks you, “What is specialty insurance?” You can tell them it’s insurance that covers not only unique or expensive objects, but family heirlooms and other antiques. It’s coverage for special items that get lost in the guidelines of other policies. Losing a one-of-a-kind item to theft or fire is hard enough without having to worry about the amount of money that was lost along with it. While insuring these items will not replace them, it may at least make you feel more at ease with the situation.