These days most
business owners are trying to save money. That is understandable
given the recent economic downturn. While cutting costs makes
financial sense, ensure that you are not putting your hotel at risk
by trimming your hotel insurance cover. Hotel insurance is vital
to the success and even survival of your business if something goes
wrong. Without the right hotel insurance cover, you could end up
paying for repairs and damages out of your own pocket.
In order to choose the right type of hotel insurance cover for
your establishment, you need to understand the risks. Imagine a
particularly accident-prone guest staying with you. Perhaps that
guest trips on a rug and crashes into a desk, resulting in a nasty
gash across their forehead and a trip to the ER.
This guest is legally entitled to claim compensation and legal
fees from you. Public liability insurance covers the cost of
defending the claim and any compensation paid to the guest. If one
of your staff members is injured at work, they are also legally
entitled to seek compensation and legal fees. Employer’s liability
covers the cost of defending the claim and any compensation you may
have to pay your employee. Fire, flood or subsidence could damage
your building.
Buildings cover ensures you can afford to repair the damage. If
you have to cease trading while repairs are being carried out,
business interruption insurance provides cover for the loss of
earnings. The contents of your hotel are essential to your
business. The replacement value of linen, towels, kitchen
equipment, etc. is covered by contents insurance in the event of
theft or damage by flood or fire.
Crime is an unfortunate reality in today’s society. Money and
assault cover provides various levels of protection if your hotel
is robbed or if you are robbed on your way to the bank. For
whatever reason you may lose your licence to sell alcohol, loss of
licence insurance covers loss of income and reduction in business
value.
There are a range of risks involved when you employ staff, one
of which is theft. Theft by employees insurance offers cover in the
event that a member of staff helps themselves to money or
stock.
YOUR Insurance understands that each individual client has
specific insurance requirements. We therefore offer comprehensive
hotel insurance policies that can be tailored to suit your
establishment’s unique needs. We also provide policyholders with
access to a 24-hour free legal helpline, tax protection in the
event you are investigated by the Inland Revenue, an affordable
monthly installment option and a seasonal increase that covers the
extra stock you may need to carry during the high season.
For more information or a free hotel insurance quote, contact us
today.