Business Protection for Hotels

From quaint bed and breakfasts to large luxury hotels, there are a wide variety of establishments offering a place to stay, whether it is simply a bed for an overnight trip or an entire suite for a long family vacation. Hotels are a huge part of the service and hospitality industry, but like any other business, they sometimes need financial protection from damaging events, whether property or liability related.

Hotel insurance gives hotels the protection they desire in a policy specially written for these unique properties. Hotel insurance includes both property and liability components that cover everything from a guest slipping at the continental breakfast to any building or property losses if the cause is an insured peril.

Property coverage in hotel insurance protects the hotel from both guest and hotel property owned losses. While guest losses can be less frequent than hotel property losses, they have the potential to be more costly in a settlement. Guest owned losses can result from stolen property, either by employees or third parties, or other hotel property damage, such as damaged pipes. For hotels, not only is there the property losses to concern themselves about, but guests may seek to sue the establishment for their liability in the losses. Hotel insurance also covers loss to hotel property. Loss through theft is common at hotels, whether taking towels or other items in the room. Theft by employees can also be a problem, and most hotel insurance policies have coverage to protect against this as well. Damage caused by guests can also be

a problem, especially if the establishment is located in an area associated with a party-like atmosphere. Hotel insurance also covers accidental hotel damage due to a variety of perils stated in the hotel insurance policy. While undergoing repairs due to a covered loss, hotel insurance has loss of earnings coverage, ensuring the reduced productivity or added costs do not harm the property’s profitablility.

Since hotels exist to serve guests, they seek to serve as many as possible to operate near capacity. Liability coverage in a hotel insurance policy takes into account the high amount of patronage that can lead to a high number of liability claims. In addition, hotels generally require a large number of employees to keep everything clean and running smoothly on the property, magnifying another source of liability claims. Hotel insurance covers the cost of bodily injury of guests on the property, as well as the previously mentioned situation where property damage results in a lawsuit attacking the competency of the hotel itself. In addition, hotel insurance also has worker’s compensation coverage, which covers the cost of employees’ medical expenses due to an accident on the property of the hotel.

Hotels are an important part of the hospitality industry, and given their high exposure to people, whether employees or guests, they require specialized hotel insurance that is written to specifically reflect situations a hotel may face. Finding the right hotel insurance for your property can take any hotel owner or manager away from running their property, but by partnering with an independent insurance agency, the owner or manager can take the burden off of them. Independent insurance agencies can shop for the best policy from the insurance providers they partner with, ensuring the business insurance quotes they receive for hotel insurance are the most competitive available.

About Boardwalk Insurance: Boardwalk Insurance Group is licensed to write hotel insurance policies in over half the United States and has many

other insurance solutions available through its affiliated insurance providers. For More Details visit http://www.boardwalkinsurance.com