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B&B insurance: Is your establishment suitably covered?
Many B&B owners in the
UK rely on their business as their sole source of income. So what
would happen if your boiler burst or your roof blew off during a
storm? Risks such as business interruption can have crippling
consequences for your establishment, making adequate B&B
insurance cover vital.
Understanding the implications of inadequate B&B insurance
before an incident occurs could save you time, money and stress.
Public liability is a critical consideration. You do not want to
find yourself in the position of having to foot the bill if a guest
brings a liability claim against you. Lawyer’s fees are expensive,
and if the court decides you are negligent, you could be ordered to
pay compensation.
While liability is one of the major risks B&B owners face,
it is not the only one. You could be faced with the loss of revenue
due to the illness or death of one of your partners, or be left
unable to accommodate guests due to property damage caused by a
flood, fire or storm.
Theft is also a concern. Guests usually travel with mobile
phones, iPods, cameras, laptops and a range of other valuable items
targeted by criminals. Unfortunately, B&B owners also have to
contend with dishonest guests and employees. Especially in larger
establishments, stock and appliances theft can run costs up
alarmingly. There is also the risk of guests departing without
footing their bills.
Reducing the financial risks associated with running a B&B
or guesthouse requires specific B&B insurance. The key to
securing adequate B&B cover is to insure your business with a
policy specifically designed to suit your industry
requirements.
YOUR Insurance understands the risks B&B owners face,
allowing you to tailor your insurance to suit both your needs and
your budget. Our B&B insurance policies cover a wide range of
risks including public liability, employer’s liability, business
interruption, buildings and contents cover, money and assault
cover, loss of licence and theft by employees.
Contact us for more information or to request a B&B
insurance quote today.