What is Specialist Insurance?

Depending on the type of business you run, it may be prudent to take out specialist insurance for your business assets.

There are many types of specialist commercial insurance you may wish to consider:

Loss of cash insurance, also known as Money Insurance - provides cover to an agreed limit for the loss of money, whether on the premises or in transit to or from business premises.

Goods in Transit Insurance - covers goods against damage while being moved.
Travel Insurance is essential if you or your employees travel abroad. Ensure that you are covered for working abroad as well as travelling, if necessary. For more information see our guide to Insuring Your People.

Commercial Legal Insurance - covers legal expenses that may arise out of a change in legislation or penalties resulting from non-compliance.

Credit Insurance - insures you against debtors who are unable to pay you as a result of bankruptcy. See our guide on debt factoring and invoice discounting: the basics.

Engineering Insurance - provides specialist cover for machinery, including computers. By law, some types of machinery must be inspected regularly. An insurer will be able to tell you if this applies to your business and will often arrange these visits. To insure off-site machinery, you will need to purchase All Risks cover.

Glass Insurance - covers the replacement of glass following malicious or accidental damage.

Professional Indemnity Insurance - covers you against compensation claims if you have been negligent, resulting in damage to a client.

Data processing insurance - provides cover for electronic media and electronic data processing equipment.

Fidelity Insurance - also known as Crime Insurance, this type of cover insures against any loss of money or stock as a result of staff dishonesty, such as theft.

Need more information about specialist business insurance?

If you would like more information about the different types of specialist business insurance policies please use the links below to go to their dedicated pages:

Money Insurance
Goods in Transit Insurance
Travel Insurance
Credit Insurance
Professional Indemnity Insurance
Fidelity Insurance