In simple terms, specialty insurance is exactly what it sounds like. It is insurance that is purchased for items that are special or unique. It is also used to provide protection for items that might otherwise be protected under another policy but are not protected because of some unusual aspect. For example, a diamond ring might be protected under the homeowner's insurance policy but what if the ring is with you while you are traveling and it is stolen or broken? A specialty insurance policy on the ring (and only on the ring) can provide the protection that you need for that item no matter where you are. Specialty insurance is not as expensive as many people believe it to be. When you consider the amount of loss, it can actually be a great value in terms of replacement as well as in terms of emotional comfort. Knowing your unique items are insured can provide you with the peace of mind to enjoy those unique items.