Insurance in today’s economy is vital for financial protection, and in many cases, it is also required by law, and there are numerous agencies that can provide policies. However, sometimes more specialized coverage is required. For example, you may have unusual needs or rare assets or you may own a business in the medical care, hospitality, entertainment or amusement industries, and if so, general policies will not protect you in these cases. That is where specialty programs come in. Some insurers are experts in providing specialized coverage for uncommon assets and niche segments so that you can be sure you have the coverage you need.
Specialized insurers may focus on a particular type of asset, need or industry, such as protection geared specifically toward restaurants, bars, night clubs, live music venues and amusement parks and even exotic pets. Others cover normally hard-to-insure items such as antiques, motorcycles, boats, travel trailers and unoccupied dwellings. Today, with the increased need for home health care, another area of focus is insurance for visiting nurses’ associations, hospice care providers, medical staffing firms, home health care providers and medical equipment suppliers. Specialized insurance is managed by experts who understand both the business side as well as the specific needs of certain industries. Often, these providers also provide risk mitigation services. If you have unusual assets or own a niche-industry business, these specialty programs can provide you the coverage you need.