Specialty Insurance

Insurance Brokers of Mn, Inc offers more than 700 insurance products over and above the coverages sold by most independent agencies.

In each of the coverage groups below, you will find short presentations that cover the highlights of that product.

Each presenter is an expert in his/her particular specialty. Specialty Insurance coverages are used in a variety of different businesses as essential elements of addressing frequent or significant risks.

Look for These Three Coverage Groups

Category Coverages

Most specialty insurance products include not only a basic, specialized coverage but also a variety of other coverages that are generally offered as a part of the overall need.

Individual Coverages

This section presents an explanation of individual coverages, many of which are offered within the categories. But there is also a growing list of these individual coverages that are “stand-alones”, available to meet specific needs not necessary a part of the categories.

Additional Categories

In the months ahead, we will be adding a more extensive explanation of these coverages, as you have seen above. This list of additional categories below contains a short explanation of each, and typical other individual coverages than are usually included.

Filter Results by Coverage Name (Use the first letter of any coverage title)

Category Coverages

Flood Insurance

Flooding is defined by the National Flood Insurance Program as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or two or more properties (at least one of which is your property) from: Overflow of inland waters, unusual and rapid accumulation or runoff...

Flood insurance policies cover physical damage to your property and possessions from floods or flood-related losses due to rising water in high risk areas. The federal government runs the National Flood Insurance Program (NFIP), which can issue flood insurance policies. Even if you have, renters, condo, landlord, mobile home or business insurance, you may need to purchase a separate flood insurance policy to have protection from flood damage. Most homeowners insurance policies do not cover damage caused by flooding. This is important to check when getting flood insurance quotes. If your community participates in the National Flood Insurance Program (NFIP), you can buy flood insurance coverage through agents enrolled in the NFIP-Direct program.

Flood Insurance
  • National Flood Program

    Philadelphia Insurance Companies (PHLY) is an authorized federal flood insurance writer, with flood programs available in all 50 states.


Individual Coverages

There are no coverages matching the current selected filter for this category. Please select another filter letter or "view all."

Additional Categories

Automobile Nonstandard Liability

Automobile Nonstandard Liability
Many motorists find obtaining automobile liability insurance with standard carriers at regular rates difficult or impossible because of their age, occupation, driving habits, moral habits, and other issues. The nonstandard market provides coverage to these drivers at surcharged rates usually based on the insured's accident and driving violation conviction record. The insurance company considers a number of factors when it decides whether or not to write this coverage in a given state or locality. This explanation of insurance benefits is provided by Insurance Marketplace.

Automobile Nonstandard Liability- Physical Damage

Automobile Nonstandard Liability- Physical Damage
Motorists who cannot find comprehensive and collision insurance coverages with standard markets at regular rates must obtain them through nonstandard markets at surcharged rates. The same companies that offer nonstandard liability coverage often also offer physical damage coverage. Physical damage coverage on high-powered sports cars, automobiles equipped for racing, specially equipped automobiles, and automobiles with fiberglass bodies is especially hard to place. This explanation of insurance benefits is provided by Insurance Marketplace.

Directors and Officers Liability- Non-Profit organizations

Directors and Officers Liability- Non-Profit organizations
This coverage protects the nonprofit itself, its directors and officers, employees, and even committee members. Some carriers include a limited amount of this coverage as part of their package policies. Trade, fund-raising, and research organizations, churches, fraternal organizations, and other nonprofit organizations are eligible. Farm co-operatives and hospitals are difficult classes for this coverage. Some underwriting factors to consider are stability of operations, length of time in operation, and whether the organization generates enough revenue to meet its expenses. Some companies cover employment practices liability as part of this coverage. This explanation of insurance benefits is provided by Insurance Marketplace.

Home Owners Policies- Low-Value and Non-Standard

Home Owners Policies- Low-Value and Non-Standard
Specialty carriers have developed homeowners and tenants package policies for low-value and nonstandard dwelling risks in distressed areas to provide alternatives to the urban area or statewide Fair Access to Insurance Requirements (FAIR) Plans. FAIR Plans are very limited and do not offer "package" coverage on residential property. In contrast, property coverage and personal liability is combined in a single policy. The coverage is written on a named perils basis with mandatory deductibles. Premiums charged are higher than in the standard market and some policies are written under various state consent-to-rate requirements. This explanation of insurance benefits is provided by Insurance Marketplace.

Nightclubs

Nightclubs
Nightclubs are entertainment venues with live bands or DJs and dancing. Some nightclubs are for under 21’s and alcohol free but most have significant liquor exposures. There is usually an entrance fee or cover charge and bouncers are often employed to maintain security both at the door as well as within the establishment. Commercial property, general liability, liquor liability, and workers compensation coverages are all needed but may be difficult to place. This explanation of insurance benefits is provided by Insurance Marketplace.

Nonprofit Agencies

Nonprofit Agencies
There are over 1.6 million nonprofits in the United States and the number grows by 5% each year. These organizations have a unique needs that standard commercial lines coverage forms and commercial lines underwriting often do not properly address. Coverage needs to include: property, general liability, professional liability, abuse & molestation, automotive liability, workers comp, accident & health, directors & officers liability, employment practices liability, and special events liability. This explanation of insurance benefits is provided by Insurance Marketplace.

Nurseries

Nurseries
Nurseries make up a special class of agribusinesses and require tailor-made insurance coverages to insure their individual and unique exposures. Nurseries sell trees, shrubs, and ornamental plants on either a retail or wholesale basis. Many nurseries also perform landscaping services for home owners, apartment complexes, and businesses. A few enterprising nurseries employ landscape architects to design landscaping projects. These risks need coverage for liability exposures and greenhouse operations. Pollution coverage is required if pesticides and herbicides are used on or off premises to care for and maintain nursery stock. There is an additional pollution hazard if there are aboveground or underground storage tanks or drums of chemicals, herbicides, pesticides, and fertilizers. Workers compensation is a difficult exposure due to lifting and moving heavy trees and shrubbery and pruning operations, as well as exposure to various chemical compounds. Commercial fleets or trucks and other equipment may also present unusual exposures. Crop insurance is usually handled in conjunction with federal crop insurance programs. This explanation of insurance benefits is provided by Insurance Marketplace.

Product Liability- Hazardous or New Products

Product Liability- Hazardous or New Products
Certain types of manufactured products have particularly hazardous products liability exposures. Drugs, cosmetics, chemicals, and ladders are some examples. Many domestic insurance companies write insurance on these classes of business on only a very limited basis. In addition, very few standard markets are interested in insuring certain types of new products, particularly drugs. Specialized markets are available to write this coverage that involves providing a complete description of the product along with complete chemical and/or engineering reports. Businesses engaged in manufacturing and installing solar-heating equipment and burglar and fire alarm equipment have a very real need for this coverage. This explanation of insurance benefits is provided by Insurance Marketplace.

Haven’t found the coverages you're looking for?

As a USA InsureNet Agency, we have access to the nation's premier directory of specialty products and programs.  You can download this below.

The 58th Edition of The Insurance Marketplace by Rough Notes contains more than 700 coverages, programs, and service industry categories and is the most widely used directory in our industry for locating Specialty Market Providers. 

If you see a coverage you are interested in, please reach out through the contact us button for more information. 

Download the Directory



Specialty coverage definitions are copyrighted by

Insurance Market Place

 

Sponsors

Specialty insurance coverages and programs are offered by independent agencies that market/sell those insurance products. These coverages come from companies known as "Specialty Market Providers" or "SMPs" and are represented by Insurance Brokers of Mn, Inc.

Insurance Brokers of Mn, Inc, 900 E Main St, Anoka, MN 55303, USA | Phone: 763-323-3000