Speciality insurance can provide cover not available from other insurers, generally for unusual risks or for hard to find insurance cover.

Sometimes standard insurance does not offer protection for off standard, high value, or unique risks and this is where specialist or niche insurers and underwriters usually come in. Specialist insurance offers cover that is tailored to address your unique needs and requirements that are not covered by standard insurance policies.

Compare insurance can find a wide range of personal and business insurance quotes from our Central bank regulated, vetted insurance partners. Fill in our 90 second assessment today to get quotes for specialist or hard to find insurance.

Table of Content

What is speciality insurance?

Speciality insurance is usually protection for specific events or scenarios, or for higher risk individuals or businesses.

Insurance underwriters decide what terms to offer an individual or business, basically what is covered by the insurance policy and how much the price or premium will be.

Speciality underwriters provide insurance for specific scenarios, usually either for a particular sector in the case of business underwriting, or for hard to insure risks not protected by standard insurance providers.

Benefits of speciality insurance

Insurance provides financial protection and peace of mind for unforeseen events. If you have been struggling to find personal or business insurance cover or off standard, unique, or niche insurance then speciality insurance can offer these benefits:

Generally, underwriters who offer coverage for hard to insure risks, or for narrow business sectors are very experienced and know their market or sector thoroughly. Specialist underwriters may also be required to obtain cover for high value items or risks.

If you have been having difficulty in obtaining insurance cover for personal or business insurance, working with an insurance advisor, and possibly a specialist underwriter may make all the difference in getting a quote.

Specialist insurance often involves enhanced underwriting, where an underwriter considers the insurance coverage required on a case by case basis. This can mean that unique or high risk situations not typically covered by standard insurance policies may be protected.

Purchasing insurance through an insurance advisor will mean that your needs are more thoroughly assessed, the correct insurance product and insurer identified, and working with a trusted insurance partner.

Specialist underwriting may result in better insurance cover as the policy will be tailored to your unique situation and may also mean that if you need to make a claim the process will be quicker and smoother.

A specialist insurer may have more insight and information to hand about the specific risks and scenarios that give rise to claims and claims may be speedier without as many queries or delays.

Examples of speciality insurance

Speciality insurance products can encompass all types of insurance, either personal or business insurance types.

Examples of specialist insurance include:

  • Niche products
  • Off standard quotes
  • Hard to find insurance
  • High risk cover

Niche products

Niche insurance products are policies that cover a particular product or sector that is not widely available. Examples of niche insurance may include:

Off standard quotes

Using the example of home insurance, off standard quotes would include protection for risks not included in standard home insurance policies.

Homes of non standard construction such as eco homes, protected structures, or period homes older than 100 years, for example, would require specialist home insurance.

Home insurance cover for high value items such as art, jewellery, or antiques which have a value higher than what would usually be included in home insurance specified items cover would also require an off standard quote.

Hard to find insurance cover such as unoccupied homes cover or self build insurance may also require specialized insurance.

Hard to find insurance

Standard insurance products are underwritten based on certain assumptions or on the standard risks presented. For example, travel insurance may specify that the policyholder is in generally good health, or may exclude certain destinations that are considered high risk.

Working with an insurance advisor may mean that they can access alternative underwriters who may provide off standard cover in such situations.

High risk cover

Some businesses are considered high risk businesses by insurers, based on historic claims and sector specific data. Examples include, hospitality and food or beverage businesses, gyms and leisure centres, construction, childcare, or warehousing and logistics.

Working with an insurance advisor may allow you to get coverage for your business from a specialist insurer or underwriter who can tailor your cover to the unique risks faced by your business or sector.

Specialist underwriters may have a more thorough understanding of your sector or industry and offer protection that is not available with standard business insurance.

Home Insurers who cover speciality insurance

Home insurers who may offer protection for your speciality insurance on a home contents policy include:

AXA - Home Insurance
Aviva - Home Insurance
AA - Home Insurance
AIG - Home Insurance
Allianz - Home Insurance
An Post - Home Insurance
FBD - Home Insurance
Liberty - Home Insurance
AIB - Home Insurance
Zurich - Home Insurance

(through brokers)

How to obtain speciality insurance cover

Insurance advisors are best placed to advise you about speciality insurance protection for personal insurance, such as home insurance, niche insurance, or business insurance.

Working with an insurance advisor will mean that they will have experience and insight into specialist insurance products and the insurance market more generally, and will have access to specialist insurance underwriters that do not deal with individual insurance customers.

An insurance advisor will do the shopping around on your behalf and will work with all insurers on the market to get you an affordable quote for specialist insurance cover or for hard to find insurance.

Compare insurance

If you require insurance cover that is not standard or have been struggling to get insurance cover for personal or business insurance, Compare insurance can help you.

Contact Compare Insurance today by filling out our online insurance assessment, calling or emailing us, and you can get a free and unbiased consultation with an insurance advisor who works with our trusted, vetted insurance partners to get you a quote for specialist insurance today.

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