Hotel insurance is a term widely used in the UK. Many individuals run small family hotels, guest houses or bed and breakfast establishments and the need for insurance that is affordable and comprehensive is great. A public house insurance policy or pub insurance policy can be designed to provide many of the covers that a hotel, guest house or bed and breakfast would need. Other countries, such as Canada and the U.S. still require insurance to cover their hotels, motels, bed and breakfast establishments and the like although the coverage might not be called by the same term.
Some of the items that might be covered in a motel insurance or hotel cover plan in the UK are the following:
- Guest cancellation and personal possessions
- Personal accident cover for guests
- Legal expenses for death or injury during trip
In the U.S. and Canada these same types of items might be covered under a business liability plan while the actual building would be covered by property insurance. The Resort Hotel Association (RHA) is a not-for-profit, member-managed insurance association operating in the United States that specializes in providing insurance programs for the unique risks of independent destination and ranch resorts, spas and historic and luxury hotels. They are very unique in that they are fully owned and governed solely by member resorts and not by insurance brokers.
Hotel owners face many factors in insurance coverage including fire, flood, vandalism, theft, burglary, accident, and other forms of loss from employees, guests and outside persons and natural disasters. Scrimping on insurance is a major mistake that can cost you your business and livelihood. Those running a guest house or bed and breakfast also face the loss of personal and family items from the same people and events. Comprehensive insurance coverage should be researched fully to make sure all your needs are being met adequately.
Take a moment and access the links and menu choices to assist you in finding an insurance company or agent that can meet your needs with experience and knowledge. The time you take now in researching, comparing and deciding on insurance can pay great dividends down the road.