Specialty insurance is a type of coverage designed to protect unique or high-risk assets that standard insurance policies may not adequately cover. This can include items like artwork, antiques, jewelry, or specific business operations such as event planning or construction. These policies are tailored to meet the specific needs of the insured, often providing broader coverage or specialized terms. For example, a musician might seek specialty insurance to cover the loss or damage of their instruments during a tour, ensuring they are financially protected against unforeseen events.