Here are the types of business insurance you should have for your hotel
Liquor Liability Coverage
Having a bar or space that sells or serves alcohol can add another
element to your business. But it also comes with potential risk of
liability. Liquor Liability Insurance is essential if you serve
alcoholic beverages, and your hotel business can benefit greatly from
it.
Guests who drink excessively can engage in unruly behavior even after
they have left your premises. If a patron was over-served, leaves your
bar and gets into an accident on his way home, your business may be
responsible for medical expenses and legal fees.
Liability Insurance
Hotels, inns, bed and breakfasts, and motels are vulnerable to claims
of liability. Your business is potentially responsible for bodily
injury sustained by your guests while on your property, as well as any
damage to your property itself.
For example, having a swimming pool is attractive for potential
visitors, but it may increase the risk of guest injuries and accidents
on your premises. If a guest slips on the wet floor surrounding the pool
and injures their back, your business can be liable and may have to pay
large costs out of pocket. To better prepare for accidents like this in
the future, you should have hotel liability insurance in place.
Commercial Property Insurance
Commercial property for coverage for hotels aids hotel owners whose
property may get damaged in case of disasters and accidents. By
protecting the building and what is inside it, this coverage eases the
repercussions from property damage, if a fire breaks out and destroys
your outdoor patio for example. Property Insurance can help cover the
cost of repairs.
Workers’ Compensation
Most hotels have staff of some kind - whether it is concierge,
housekeepers, chefs, or pool attendants. While exact laws may vary, most
states require you to have Workers’ Compensation - a critical piece of
hotel business insurance. Hotel staff can be prone to injuries from
cleaning and heavy-lifting, slips & falls, and burns in the kitchen.
Workers’ Comp protects your business from paying out of pocket for
medical bills for these injuries.
Failing to carry Workers’ Compensation in states where it is required
can come with consequences that are severe for your business
Employment Practices Liability Insurance
Your staff may also be vulnerable to sexual harassment or
discrimination by coworkers. If your business doesn’t have the right
tools in place to deal with these complaints - they can result in
employee lawsuits. Employment Practices Liability Insurance (EPLI)
protects your hotel or inn from charges of wrongful termination,
harassment, and discrimination.
Your hotel is unique. That’s why THREE offers comprehensive and
affordable coverage that is catered to the unique needs of your hotel.
Our goal is to make sure you can focus on what you do best without
worrying about potential claims and legal issues.
