Property Coverage: This insurance protects such property as your building and other structures. It will pay if you face a hazard — such as fires or weather — that damages the property.
Contents Coverage: You will need this coverage to insure the furnishings and contents within the hotel. If damage or theft occurs, this coverage can help you replace the items.
General Liability Insurance: You must take responsibility for all the visitors within the hotel. If you cause them property damage or bodily injuries because of mistakes, this coverage can help you compensate them for their losses.
Business Income Coverage: If an accident, such a fire, strikes the hotel, it could cause major disruptions. You might not be able to operate while the repairs are ongoing, and that could lead to a loss of income. This portion of your coverage can help you recover such lost funding.
Cyber Liability Insurance: This coverage will help you get control of a situation such as a data breach or a ransomware attack, when your hotel’s private data might become compromised. This coverage can help you protect yourself and customers for the losses that might threaten.
Umbrella Liability Insurance: An umbrella policy might be able to step in to help you cover outstanding costs not covered within your standard liability policies. It’s an extra layer of liability protection for multiple standard policies.
Workers Compensation Insurance: This coverage will provide a supplementary income to employees injured on the job. Most states require most businesses to offer workers compensation policies, both to full- and part-time employees.
Employee Dishonesty Coverage: Should one of your employees steal from the business, this coverage can help you recover your losses.
Commercial Auto Insurance: Hotels that offer shuttle services, or own a company vehicle, might need this coverage. It will work like standard car insurance, but contains coverage tailored specifically to business vehicles. Policies can also include hired/non-owned vehicle endorsements that cover an employee’s personal vehicle when they use it on official business.
Liquor Liability Insurance: If you sell alcohol on the premises, there’s a chance that your sales could lead to a client harming themselves or others. The harmed party might blame the hotel for the damage. This coverage can help you settle damages associated with such claims.
Food-borne Illness Liability Insurance: Hotels that serve food could accidentally sicken a customer. This coverage can settle with the customer for their medical costs and other losses.
Equipment/Machinery Breakdown Protection: Broken air conditioning systems, refrigeration, and cooktops can all be costly expenditures. This coverage helps fund repairs.
Employment Practices Liability (EPLI) Coverage: This coverage protects the hotel from claims of misconduct. For example, it might help you respond to lawsuits brought by employees who allege discrimination, harassment or wrongful termination.
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