subject: Overview Of Hospitality Insurance [print this page] Hospitality insurance is a way to provide adequate financial security to your existing hospitality business. The policy covers all kinds of hospitality industry such as; hotels, motels and resorts. Often, hospitality insurance also comes with public liability insurance.
What hospitality insurance covers
Hospitality insurance covers a number of risks that is specific to the industry. Here is a complete list of all the risks covered by our insurance policy.
1.Damage by fire:
Fire is often one of the most devastating disasters that may cause a huge amount of financial loss to your business. Hospitality insurance will bear cost of replacing the building, businesss stock and furniture after a fire. It also covers damage caused to your industry caused by storm or other malicious reason.
2.Coverage against public and products liability:
People may get injured due to operation of your business. Similarly, others property can also receive some damage due to certain activity of your industry. Hospitality insurance will take care of all these.
3.Business interruption:
Business interruption may often occur due to any unfortunate event. An insurance policy will ensure you dont have to suffer from such interrupting period.
4.Machinery breakdown:
A business can suffer massive loss in case damage is caused to electrical, electric and mechanical industry. Hospitality insurance will bear replacement or repairing cost for them.
5.Compensation for workers:
Employees need to be provided with coverage for any possible injury they may suffer while working for the industry.
Optional coverage
Apart from above-mentioned regular coverage, hospitality insurance also offers some additional optional coverage. These are;
Coverage of general Property Cover
If your equipment is accidentally damaged, general property cover will help you bear its replacement cost instantly.
Coverage against personal accident and sickness
With this additional coverage you can ensure your business doesnt have to suffer financial loss if one of your employees fall sick or get injured in an accident.
Coverage for Transit
Property and goods are subject to damage while in transit therefore you need to have them ensured.
Coverage against dishonesty
Buying dishonesty insurance will save you from financial loss that you may suffer due to an act of dishonest committed by any of your employees.
Coverage for glass breakage
This will cover breakage of fixed glass and provide replacement cost for them.
Click on the following link to contact us for affordable and comprehensive hospitality insurance services.
by: sid tivatne
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