Hotels and motels are often the targets of lawsuits, with high-profile cases emerging every year. In the hospitality industry, you need insurance coverage to protect the financial health of your business. Hospitality insurance is coverage designed specifically for those operating in the hospitality industry, including hotels and motels.
What Does Hotel & Motel Hospitality Insurance Cover?
Your hospitality insurance must be tailored to meet the needs of your enterprise. You should have coverage for everything from a guest’s slip and fall accident, to fire property damage, security failures, and smoke inhalation injuries. A hotel or motel hospitality insurance package may include coverage for business property, business liability, business crime, and guest property.
Business Property Insurance
This insurance can help restore lost income and cover losses to equipment and materials, such as bedding, televisions, washing machines, and refrigeration units, caused by unexpected occurrences.
Business Liability Insurance
Liability insurance can help protect your business against losses resulting from claims made by guests that they were injured or their property was damaged on your hotel or motel premises.
Business Crime Insurance
This coverage helps protect you from losses resulting from wrongdoing by a third party, such as theft, vandalism, or robbery.
Guest Property Coverage
If a guest has property lost or damaged while staying in your hotel or motel, this insurance covers your legal liability.
Cost of Hotel & Motel Hospitality Insurance
The cost of your hospitality insurance will depend on the location of your business and the types and levels of coverage needed. Our local insurance agent at Roger Smith Agency in Wayne County, Tennessee, can design a package with coverage solutions tailored to meet the needs of your hotel or motel hospitality business.