Niche or specialty insurance is when your situation is unique that there is no special standardized insurance plan or model for you.
We will have to assess your case and speak to the insurance underwriters to come out with a viable business model for your case.
When do I need niche specialty insurance?
For example, you may own some fine arts or jewelry in a secured location that you wish to insure for. Or you may have some heirloom that the market value is not available.
Sometimes niche insurance also comes about because of technology advancement. We have just witnessed the start of drones and its usage for personal hobby, work, and productivity. However, the regulation and insurance scene still lacks drone coverage to protect drone owners against unforeseen events, such as overzealous security guards destroying an expensive personal drone.
Or it can be covering your pleasure craft such as yacht or aircraft? Or your vintage Superman DC or Marvel comics, your classic toy set collection such as Barbie dolls or star war collectibles, your antique books and board games that are in 5 figures or 6 figures valuations.
Let us know your concerns and we will check to make a good business model that benefits and covers your concerns.
What would niche specialty insurance cost me?
Due to the unique situation of each type of niche insurance, be it covering for your fine vintage toy collection, your antique vase, your latest hi-tech yacht or drone, the valuation involved could be from a thousand to millions. Hence each case would have differing premium costs.
You can get a good price by customizing the insurance situation, for example, we can help to request for lowering of premium by highlighting existing or new security measures to protect the fine art or jewellery. Our task is to ensure that we will be long term partners.