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"More Products" is a term used in order to refer to the types of insurance coverage that do not fit into the traditional TCIP, accident, health and life insurance categories. These coverage types include a wide variety of specific policies that protect against certain types of risks. The specific policies are listed below:
Fire Insurance
Property damage insurance is a type of insurance that provides protection against financial losses resulting from property damage or destruction. It includes both exterior damage of buildings, equipment and other property, as well as loss of usage and income resulting from property damage or destruction. Property damage insurance policies can be purchased by individuals, businesses and organizations in order to protect a wide variety of property types, including homes, buildings, vehicles and other assets.
Machine Breakdown Insurance
Machine breakdown insurance is a type of insurance that provides protection against financial losses resulting from damage or malfunction of machinery, equipment or other mechanical systems. This type of coverage may cover the cost of repair and replacement of machines that fail, as well as loss of income or extra expenses as a result of a breakdown. Machine breakdown insurance policies can be purchased by businesses, organizations and manufacturers in order to protect a wide variety of machine types, including production equipment, power generators, HVAC systems and other mechanical systems.
Electronic Equipment Insurance
Electronic equipment insurance is a type of insurance that protects against financial loss resulting from damage or malfunction of electronic equipment, including computers, servers, and other types of electronic equipment. This type of coverage may include the cost of repair or replacement of damaged or malfunctioning equipment, as well as loss of income or extra expenses as a result of breakdown. Electronic equipment insurance policies can be purchased by businesses, organizations and individuals in order to protect a wide variety of electronic devices, including computers, servers, communications equipment and other electronic systems.
Political Violence Insurance
Political violence insurance is a type of insurance that provides protection against financial losses resulting from political incidents such as war, internal disorder, terrorism, revolution, riots, strikes and other forms of political violence. This type of coverage may include coverage for physical damage to property, protection for loss of income or extra costs as a result of the incident, and coverage against injuries and damages as a result of political violence. Political violence insurance policies can be purchased by businesses, organizations and individuals that have assets or operations in countries where there is a risk of such incidents to occur.
Political Risk Insurance
Political risk insurance is a type of insurance that provides protection against financial losses resulting from political incidents such as war, internal disorder, terrorism, revolution, riot, strike and other forms of political violence, as well as non-violent incidents such as expropriation. This type of coverage may include liability against exterior damage to a property, loss of income as a result of the incident, protection against extra expenses, injuries and damages caused by political risks. Political risk insurance policies may be purchased by businesses, organizations and individuals in countries where such risky incidents are possible to occur.
Terrorism Insurance
Stand-alone terrorism insurance, also known as SRCC (Terrorism Risk Insurance Act) insurance, is a type of insurance that specifically protects against losses caused by terrorist acts. It is a separate insurance policy, which differs from other types of coverage. This type of coverage is planned in order to protect businesses and organizations against financial loss resulting from material damage and/or loss of income caused by terrorist acts. Coverage may include exterior damage of buildings, equipment and other properties, as well as loss of usage or loss of income resulting from damage or destruction of the property. Stand-alone terrorism insurance policies can be purchased by individuals, businesses, and organizations in order to protect a wide variety of assets.
Artwork Insurance
Artwork insurance is a type of insurance coverage planned in order to protect owners, collectors, institutions against some incidents such as loss, theft, damage or destruction of the artworks. It covers a variety of arts, including paintings, sculptures, photographs, antiques and other valuables. Artwork insurance generally cover the cost of repairing or restoring damaged, lost artwork or replacing it with a similar item. In some cases, coverage may also include shipping costs of the artwork and liability against damage of the artwork during shipping. Artwork insurance policies can be purchased by individuals or for a collection. The coverage amount of the insurance generally depends on the appraisement value of the art.
Fair, Concert and Organization Insurance
Fair, concert and organization insurance is a type of insurance that is planned exclusively for organizers of communities such as fairs, concerts and other large gatherings. This type of insurance provides financial protection to organizations in case of cancellations, natural disasters and unexpected incidents that may lead to financial loss. It may include compensation against expenses for coverage, loss of income and other incident-related needs. The details and the conditions of the coverage depends on the broker and the policy purchased.
Warehouse Liability Insurance
Warehouse liability insurance is a type of insurance planned in order to protect warehouse owners and operators against financial loss resulting from injury or property damage claims. This insurance covers a range of liabilities, including damage of the stored goods, employee injuries, and damage to warehouse building or equipment. The special assurance offered by the warehouseman liability insurance policy may vary depending on the type and size of the warehouse and the types of goods stored.
Ship Towing Insurance
Ship Towing insurance is a type of insurance coverage for tugboat operators and ship owners. It provides protection for a ship or the cargo against damage when towing the ship. Coverage generally includes protection against claims made by third parties for damage or injury caused by the towing operation. Policy may also cover against loss or damage to tugboats, crew or other related equipment.
Frequently Asked Questions
More products insurance generally states insurance policies that cover risks that are not covered by policies such as standard accident, traffic or life insurance. This type of insurance may include different types of insurance, such as political violence, artwork, electronic equipment.
The cost of special policies may vary depending on the content and the options selected. In general, Special policies may cost higher since they include more comprehensive and private insurance. However, if preferred according to the needs, the insurance may be a more suitable option to provide the required insurance coverage.
Stand-alone terrorism (SRCC) insurance is available to anyone who may be exposed to or affected by terrorism incidents. Generally, businesses such as small businesses, tourist facilities, shopping malls, which are vulnerable against terrorist incidents may require a SRCC insurance. In addition, landlords or tenants may require a stand-alone terrorism insurance that covers against the possibility of their home being affected by terrorist incidents.
Yes, it can. Only for one electronic equipment can be insured. The insurance will only be applied to one specific device and will not cover any other equipment. However, a comprehensive electronic equipment insurance that includes insurance for more than one device can also be preferred. It is important to prefer the most suitable option for your needs, since the number of devices to be insured can affect the cost.
The insurance market offers many different types of insurance. Therefore, you can find insurance options specifically for your different needs for example an insurance that is suitable for your home, car, health and business. However, the coverage, price and other details of each type of insurance are different. You need to get support from the experts in order to prefer the best option for your needs.
Fair, concert and organization insurance is not compulsory. However, this type of insurance is preferred in order to cover against possible risks that may occur during the organization of such events and in order to assure the success of the event. In addition, the owner or tenant of the venue of the event may request such insurance for safety of participants of the event. Therefore, it is a matter of preference to assure fairs, concerts and organizations. However, it is preferred in order to minimize the possible risks and to assure the success of the event.
The price of political violence insurance can vary depending on different types of coverage, pricing policies and other factors. In addition, the size, location, date and other characteristics of the object to be insured may also change the price.