Everything You Need to Know About Hotel Insurance

Do you operate a hotel business? Are you ready for any eventualities that can disrupt your operations? What about a personal injury to guests or employees? Then, consider getting a hotel insurance policy.

What is Hotel Insurance?

Look at it this way. Hotels welcome visitors from all walks of life. In turn, they expose their property, guests, and staff to such risks as burglary, accidents that result in personal injury, or a food-borne disease. The hotel insurance policy mitigates any loss of property, goods, or injury to persons due to such perils.

Who Is It for?

The hotel insurance policy caters to all classes of hotels. They include luxury stays, motels, hotel-casinos and gaming, resorts, boutiques, and hotel franchises.

How It Works

Once you set up your hotel business, you ought to involve an insurance broker to assess the types of risks you face. Then, the broker will recommend the comprehensive policy that gives you the best cushion. Later, should any of the risks occur, the insurance will step in and cater for the costs.

Types of Hotel Insurance Policies

Each hotel has unique needs and risks. Hence, there are different types of hotel insurance coverage custom for each client and situation. Here is a sample:

· Innkeeper Liability Coverage: It compensates the guests for any loss on personal property.

· Employers’ Practices Liability Insurance: It pays for any claims from the hiring process, employee dismissals, alleged discrimination, or harassment.

· Workers Compensation Coverage: It settles claims against injuries to an employee on duty. This coverage is mandatory in most states in the United States.

· Business Auto Coverage: It compensates for loss or damage when using the hotel vehicles. Such vehicles include guest shuttles and company-hired taxis.

· Property Coverage: It protects the swimming pool, hotel spa, restaurant, fitness center, and any other amenities in your hotel’s name. The claim includes the cost of repairs, remodeling, and unexpected shutdowns.

· General Liability Insurance: It pays for losses due to lawsuits or claims against the hotel.

Major Benefits

Here are some of the benefits of getting hotel insurance for your hotel business and guests: –

  • It cushions the business and guests from enormous costs that result from accidents at the hotel.
  • Helps the hotel business recover its operations fast should any of the covered perils occur.
  • It provides adequate protection to the hotel’s assets.
  • Safeguards the employees as they focus on their duties.
  • Helps you maintain your steady business income.
  • Provides a legal fall back in an employment dispute.