Some items are easier to replace than others. That’s where specialty insurance comes in. As explained by Program Business, specialized insurance coverage is supplemental to general insurance, and it’s used for the protection of unique items possessed by an individual or business.

Examples of Items Covered by Specialty Insurance

Investing in specialized insurance coverage provides multiple benefits in case of unpredictable circumstances. Some of the items that qualify for specialized insurance coverage include the following:

  • Classic cars: It takes time and effort to restore classic vehicles, so it’s important for those vehicles to have adequate protection.
  • RVs, motorcycles, and ATVs: Protection on the road is a must for avid travelers and weekend warriors alike.
  • Rental or high-value homes: Renting property to strangers comes with a high level of risk. Added protection can help cover any damages wrought by unexpected accidents.
  • Specific elements of a business that may not be covered under a general insurance plan: These components may include items such as neon signs or electronic equipment.

One-of-a-kind items often have special meaning to their owners. After unforeseen damage or the devastation of a natural disaster, finding out these items are not protected may only make the pain more difficult. Investing in specialized insurance coverage is a great way to protect yourself against the loss of these family heirlooms, collector’s items, or vital pieces of your business.