Hotel insurance and guest house insurance usually offer the same type of coverage, although not always to the same full extent. The key points are the same as required under most business insurance policies, although the wording and limitations will usually vary according to the type of business and the industry in which your business operates. All businesses require an insurance policy that will cover buildings and contents, liability, both public liability and employers liability, and a 'business interruption' element to the policy.
The most common purchasers of a hotel insurance policy include businesses such as hotels, motels, and hostels, and bed and breakfast or guest house operations.
As mentioned above, the three key features of a hotel insurance policy are:
Buildings and contents insurance to protect your business in the event of fire, flooding, theft, break-in and resulting damages.
Business interruption, a general term covering incidents that cause loss of income, such as electricity failure or gas leak, fire or flood damage, or injury, illness, or death of owners.
There are, however, a few key differences with the coverage allowances with hotel insurance as opposed to many general business insurance policies with these same features. For example, a hotel insurance policy may include coverage for damages such as a broken window, fixtures and fittings, landscaped garden property, and hotel frontages including signs and external blinds.
There may also be the opportunity to increase coverage of loss of stock during the primary season, an increase in coverage of both public liability and employers liability in particular for situations of outdoor catering.
You should also ensure that your hotel insurance policy will cover loss or damage to the personal effects of your guests.
When choosing the most suitable hotel or guest house insurance policy for your particular business, examine the offerings of coverage with regard to business interruption protection within your policy duration.
Comprehensive hotel insurance or guest house insurance is critical to the survival of a hospitality business, and is reassuring for the mental and emotional concerns of anyone running a business providing guest accommodation.
The most common purchasers of a hotel insurance policy include businesses such as hotels, motels, and hostels, and bed and breakfast or guest house operations.
As mentioned above, the three key features of a hotel insurance policy are:
Buildings and contents insurance to protect your business in the event of fire, flooding, theft, break-in and resulting damages.
Business interruption, a general term covering incidents that cause loss of income, such as electricity failure or gas leak, fire or flood damage, or injury, illness, or death of owners.
There are, however, a few key differences with the coverage allowances with hotel insurance as opposed to many general business insurance policies with these same features. For example, a hotel insurance policy may include coverage for damages such as a broken window, fixtures and fittings, landscaped garden property, and hotel frontages including signs and external blinds.
There may also be the opportunity to increase coverage of loss of stock during the primary season, an increase in coverage of both public liability and employers liability in particular for situations of outdoor catering.
You should also ensure that your hotel insurance policy will cover loss or damage to the personal effects of your guests.
When choosing the most suitable hotel or guest house insurance policy for your particular business, examine the offerings of coverage with regard to business interruption protection within your policy duration.
Comprehensive hotel insurance or guest house insurance is critical to the survival of a hospitality business, and is reassuring for the mental and emotional concerns of anyone running a business providing guest accommodation.
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