| There are many types of insurance available. Home | | | | contacts that you can explore. |
| owner's insurance, automobile insurance, life insurance, | | | | Specialty items that you might want to consider |
| to name just three, but there are also specialty | | | | insuring include such things as: exotic animals, artwork, |
| insurance policies available that some consumers may | | | | coin collections, antique watches or other time pieces, |
| find very useful. This article will examine some of the | | | | collectable automobiles, various pieces of jewelry, |
| more common types of specialty insurance. | | | | historical documents, antique furniture pieces, rare |
| In simple terms, specialty insurance is exactly what it | | | | books, and any other unique item or items that you |
| sounds like. It is insurance that is purchased for items | | | | may have. |
| that are special or unique. It is also used to provide | | | | One reason many consumers and collectors use |
| protection for items that might otherwise be | | | | specialty insurance policies is when the item insured is |
| protected under another policy but are not protected | | | | worth more than the location where it is stored. For |
| because of some unusual aspect. For example, a | | | | example, assume you have a home owner's |
| diamond necklace might be protected under the | | | | insurance policy that covers one million dollars of |
| home owner's insurance policy but what if the | | | | damages. Let's further assume that you have a |
| necklace is with you while you are traveling and it is | | | | famous piece of art that has been appraised at three |
| stolen or broken? A specialty insurance policy on the | | | | million dollars. The artwork could be covered under |
| necklace (and only on the necklace) can provide the | | | | the home owner's insurance but there would be a |
| protection that you need for that item no matter | | | | substantial problem should the home burn down and |
| where you are. | | | | the artwork is lost in the fire. The one million dollars |
| Specialty insurance policies are not available with all | | | | recovered through the insurance would need to be |
| insurance carriers and that means that you may have | | | | used to replace the home and the furnishings, and |
| to do some research in order to find the best carrier | | | | would not come close to being enough to pay for |
| for the item that you wish to insure. Lloyd's of | | | | the lost art. |
| London is an example of a famous specialty insurance | | | | By having a separate policy on the artwork, a policy |
| carrier who (it is reputed) will insure anything as long | | | | that better reflects the high value of the piece, the |
| as the insured is willing to pay the price. Other, less | | | | home owner is better able to recoup his or her |
| famous, carriers are available, but you will probably | | | | losses. |
| have to search for them. This can be done online, if | | | | Specialty insurance is not as expensive as many |
| you wish. | | | | people believe it to be. When the amount of loss is |
| Another way to find reputable insurance carriers is to | | | | considered, it can actually be a great value in terms |
| ask the people from which you bought the item. In | | | | of replacement as well as in terms of emotional |
| the necklace example above, you might want to ask | | | | comfort. Knowing your unique items are insured can |
| the jeweler with whom he does business with. | | | | go a long way in relieving stress. |
| Chances are good these vendors will have some | | | | |