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Hotel Insurance

Looking to make your hotel business thrive? The open secret is having your guests come back again after their first stay. However, this can only happen if they had the best experience they’ve ever had lodging at a hotel, and to create this, you provide them with special services and treats to compliment their stay.

On the flip side, you may not realize that the more services you provide, the more risks your business is exposed to. A guest could file a lawsuit because your exotic food didn’t go well with their body system; another may have an accident at the pool. Worse, valuable property may get lost or damaged by room service attendants.

Frankly, there are endless possibilities of risks you are exposed to. In fact, virtually every service you offer has a risk attached. So, do you resort to not offering special services to your guests? Absolutely not! Your best option at mitigating loss is through hotel insurance.

What Does Hotel Insurance Cover?

There are many possible risks covered by this insurance package, but we can broadly classify them into two; liability insurance coverage and property insurance coverage.

Liability Insurance Coverage

Sometimes, your hotel services may harm your guests in one way or the other. The liability insurance coverage protects you from claims of this nature. Some of these policies include:

General Liability Coverage

This protects your business from many possible risks that you could face on a general scale.

Premises Pollution Liability Coverage

Here you get coverage for health issues your guests may experience due to a polluted or contaminated environment.

Cyber Liability Coverage

In the case that your hotel records are hacked, and your guests’ data are compromised, this coverage comes in handy to bail you out.

Employment Practices Liability Coverage

This insurance protects your business from lawsuits that have to do with employment matters.

Commercial Auto Liability Coverage

This takes care of any possible damage or injury caused by your hotel shuttle or transport system.

Food-Borne Illness Liability Coverage

If your hotel services include morning breakfasts or you have a restaurant in the hotel, this insurance policy protects you from possible food and health risks that may arise.

Liquor Liability Coverage

If your hotel has a bar or serves alcohol, you may just want to include this in your package

Property Insurance Coverages

Property insurance, on the other hand, protects your hotel properties. It keeps buildings, equipment, and other structures you may have from risks of possible damage caused by either natural disasters or man-induced accidents. Our hotel insurance package covers several policies, such as:

General Property Coverage

This protects your building and properties from general damage.

Equipment Breakdown Coverage

If your equipment breaks down, this can cover the much-needed repairs you need for your business to keep running smoothly.

Crime Coverage

You can get insurance on your property against the risk of them getting stolen.

Food Spoilage Coverage

You can get compensation for food spoilage that occurs during or just after an incident your insurance covers.

Utility Interruption Coverage

You can also get protection from losses sustained due to utility outages in your hotel, e.g., power and water outages.

Earthquake, Wind, and Flood Coverage

Depending on your hotel’s location and the possibility of experiencing a natural disaster, you can insure your property against losses.

Final Words

Hotel insurance policies are not limited to just the above. Depending on your hotel’s specific needs, you may have a special package with which to insure your business against risks. For instance, your business may need coverage on workers’ compensation or guest relocation from a room to another, and if you host events, event cancellation insurance may come in handy.

Bear in mind that the most important thing when it comes to getting hotel insurance is making sure you have the best insurance broker for you. Due to the numerous possible coverages your hotel may need, it is essential that your broker is well experienced and has a broad knowledge of your business’s workings to make the best judgment of insurance policies that would suit your business.

We are qualified in all areas to do this for you. With us as your broker, you can be sure that you are protected from risks to both your business and property.