How to Choose the Right Hotel Insurance if You Are an Owner or Manager
Whether you own or manage a hotel, or motel, financial budgeting and planning, including hotel insurance is vital to the success of your business. You must find the right insurance company that will evaluate your needs, and one which understands your risks.
Deciding on a hotel insurance policy can be challenging. The right insurance company will take their time evaluating and understanding your risks. And one of the best ways for you to save money, is to choose a package deal, which includes the various types of insurance.
In the USA, there are several important areas to consider when insuring a hotel (motel, or bed and breakfast).
Hotel Business/Liability Cover
Liability risks are a big consideration for owners and managers alike, as they are for businesses where hospitality is the main business. Having adequate liability cover is imperative for a healthy bottom line!
Liability Insurance Types to Consider
Cyber Insurance Liability
Prevention is always better than the cure, but don’t be fooled, cyber attack of your computers and frontline systems can happen. So cyber liability is a must.
Liquor Liability Insurance
Offers protection against damage caused by intoxicated guests!
Mold spores and airborne pollution can make guests sick. This type of cover is another no brainer!
General protection insurance against damage and injuries to guests and their property.
Food/Illness Liability Insurance
This covers the owner/manager and staff against liability costs against food infections like salmonella etc.
Covering if a hotel worker gets injured or sick as a result of accident or other situation at work in a hotel.
Employment Liability Insurance
Protects against lawsuits of ‘unhappy’ employees!
Required by law, and is part of state taxes in America.
Medical Insurance and Disability Insurance
Required by law (the Affordable Healthcare Act), and in most States.