A Specialty Insurance Definition

specialty insurance definition

What is specialty insurance? There isn’t just one specialty insurance definition. This type of coverage can apply to many different needs. So, speaking generally, it’s insurance over and above the traditional policies found for autos, businesses and homes. For example, if you collect antique cars, you might want extended coverage for your expensive hobby. In business, certain industries require insurance coverage that goes beyond your normal general, liability and workers’ compensation policies. One of these industries is health care, where administrators, doctors, nurses and other patient care technicians are held to very high ethical standards.

Facets of the medical industry that require unique policies include durable medical equipment suppliers, home health care providers, hospices, medical staffing firms, personal care and support services, and visiting nursing associations. Here, policies include things such as protection for the directors and officers of a health care facility and extended automobile coverage for those driving to their patients’ homes. When looking for a provider for your unique insurance needs, look to a company that can combine all of your insurance coverage into one affordable package. They should work with A++, A or better rated insurance carriers that have a history of being financially stable. What is a specialty insurance definition? Its someone who can meet all of your special insurance needs.