Hotel Insurance, Guest House Insurance, Motel Insurance, Bed and Breakfast (B and B) Insurance

By: EconomyWatch   Date: 26 May 2010

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Hotel insurance is specifically designed to meet the growing requirements of the hotel industry. Customized hotel insurance can be arranged to cover all types of establishments. Be it spas, ranches, guest houses, bed and breakfasts (B and Bs) or apartments, hotel insurance caters to every kind of establishment.

A standard hotel insurance policy includes protection against perils, such as builder’s risk, fire and accidental damage, and natural calamities. Other types of coverage, such as liquor liability, are a part of the policy’s casualty portion.

Various Covers in a Hotel Insurance Policy

Here are various covers that can be a part of a hotel insurance policy:

Buildings Insurance: This policy provides cover for a hotel’s main property, walls, fences, gates and outside buildings within its grounds.

Business Contents Insurance: Contents insurance covers damage to furniture, equipments and appliances which are utilized by your business.

Liability Insurance: Liability insurance protects your business from legal costs and lawyer’s fees. It serves you in case compensation needs to be made to a guest or a third party. Claims may arise due to damages that occur due to negligence on your premises.

Employers’ Liability: This insurance protects employers from any negligence related suit that is charged against you. Claims arise pertaining to alleged injury, illness or death of an employee.

Business Interruption Insurance: In difficult periods, when your business ceases to operate, this is a form of crucial protection. The insurer will cover all the earnings and costs that your business would have earned if it was operational.

Bar and Stock Goods: This kind of insurance is critical for expensive wines, spirits, cigarettes, tobacco, frozen and other normal foods.

Eligibility Conditions for Hotel Insurance

Here are some important eligibility conditions for hotel insurance:

  • The hotel structure and building should be in good condition.
  • There should be proof of upgraded plumbing, heating, roofing and wiring.
  • Franchised hotels qualify easily due to their strict adherence to franchise requirements.
  • Buildings that are over five storey must have several exits or emergency exits.

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