No matter whether you are running a small individual
hotel or operate as part of a larger chain,
loss or damage can come at any time. Hotel insurance
covers the income and assets of the business
against loss or damage by any of the perils
specified in the policy. These will typically
include theft, fire, flood, storm, earthquake,
lightning, escape of water, riot/civil commotion
and accidental damage. The policy also provides
protection to the business for its legal liabilities
for employee and third party claims and can
be arranged for both non-licensed and licensed
establishments.
What
does Hotel Insurance cover?
Hotel insurance policies are designed to provide
cover specific to the needs of hotel owners.
The typical ‘package’ policy will
include a number of standard sections as well
as some optional extras that allow the hotel
owner to tailor a policy to suit their individual
requirements. The following sections are usually
available on a hotel insurance policy either
as standard or as an optional extra (full details
of what is included will be provided in your
quotation):-
Buildings - cover for the 'bricks and mortar'
against the perils specified in the policy
(fire, earthquake, lightning, flooding etc).
Can be extended to cover accidental damage.
Contents – protects the contents of the
hotel business against loss or damage by a
specified peril (theft, fire flooding etc).
Public
Liability – covers the legal
liability of the hotel owner against accidental
injury to third parties.
Employers’
Liability – covers the legal
liability of the hotel owner against injury
to employees whilst at the place of work.
Business
Interruption – protects the loss
of profits of the business arising from an
insured event such as a flood.
Book
Debts (or loss of accounts receivable) –
covers the amount owed by customers (up to
a certain level) that cannot be collected
due to the loss of records by an insured peril
(fire, flood etc).
Loss
of Liquor Licence – covers (up
to a certain level) the fall in sale value
of the hotel premises and any subsequent loss
of profit following the loss of a liquor licence
by a cause that is beyond the control of the
hotel owner.
Who
should have Hotel Insurance?
Hotel insurance is necessary for every responsible
hotel owner. It will protect the business and
the owner against claims caused by the specified
perils.
Contact
us today to discuss your requirements and
to obtain a quotation for your hotel insurance.
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