Special Risk Insurance: What is it?

Most people have some sort of general insurance such as auto, home, renters or health insurance. However, these basic insurance policies don’t cover any unique or special risks a business or individual may face. Special risks insurance brokers specialize in catering to a variety of unusual exposures to help fill in coverage gaps.

Unusual Individual Needs

The majority of individuals can cover their risks with traditional auto insurance, health insurance and home or renter’s insurance. However, international travelers, missionaries and high-end home owners may need additional coverage. Traditional health plans don’t usually cover evacuation or travel if a person becomes ill overseas. The additional insurance is necessary especially for those who live in other countries who need better access to quality healthcare.

Industry Niches

Risks associated with particular industries require certain additional coverages or policies to fully cover their exposures. Often niche industries have out of the ordinary coverage needs. Types of niche industries include but are not limited to:

  • Staffing
  • Valet and Parking
  • Financial Institutions
  • Entertainment
  • Sports
  • Transportation
  • Energy

Speak to special risks insurance brokers to determine what additional policies you may need to cover all your unusual liabilities. Don’t forego the necessary coverage. Insurance offers protection from financial loss associated with a lawsuit. The advice and help can bring you peace of mind.