Just like other businesses, hotels face a unique set of risks. Operators have to protect both the safety of their colleagues and their assets.
And this is where our insurance products can help. With us, you can get a range of hotel insurance programs to protect both the people on your premises and your property.
Hotel Insurance Explained
Hotel insurance is very much like any other form of business insurance. It covers losses incurred via damage and litigation, helping to keep your finances healthy.
Practically all commercial hotels and motels purchase hotel insurance. It is a safety net that protects them against catastrophic claims that could jeopardize their businesses, providing peace of mind.
Hotel insurance is suitable for all sorts of hotels establishments, including:
● Boutique hotels
● Private-label properties
● Conference facilities
● Franchise hotels
● Privately-owned bed and breakfasts
So, no matter what kind of hospitality operation you run, we have insurance to match.
What Does Hotel Insurance Cover?
We offer tailored, bespoke hotel insurance that reflects the unique risks that your enterprise faces. By choosing us, you can get just the right level of insurance: not so much that you wind up paying excessive premiums, but not so little that you can’t cover your losses.
Insurance for hotel operators includes the following components:
● General liability: This type of insurance covers your business against claims of bodily injury and property damage resulting from your services and operations. For instance, general liability can protect you if a guest slips, falls, and injures themselves on wet tiles in your foyer.
● Property and buildings coverage: Property and buildings coverage protects you against the costs of physical damage to your property. Hotels, for instance, may be able to make claims for expenses incurred due to the impact of weather, vandalism, or theft. Generally, property coverage protects objects inside the hotel building, while building coverage protects the building structure itself.
● Equipment breakdown: Equipment breakdown cover insurance covers hotels against damage done to their equipment caused by mechanical breakdowns, operator errors, electrical shorts, and power surges. While most policies cover computer equipment, they do not cover software errors.
● Workers’ compensation: It is the law in most states for hotels to provide workers’ compensation insurance. It covers lost wages and medical bills of employees who injure themselves on the job.
● Umbrella coverage: Umbrella coverage is a special type of insurance that pays out when the liability you face is greater than the standard liability insurance threshold. Given the increasing cost of compensation payouts, it may be worth adding this to a new or existing policy to provide increased protection.
Get Hotel Insurance Today
If you're looking for high-quality, bespoke, and customizable hotel insurance, then you're in the right place.
Our expert underwriters consult with you about the kind of risks your enterprise faces before constructing products that meet your risk requirements.
With us, you can pick and choose the individual components you want your policy to have, providing you with unrivalled flexibility.
Are you shopping for a Hotel Insurance policy in the Colorado Springs area? Or if you’re on the Western Slope of Colorado, Mountain Insurance can help you get the best rates and the coverage you need. Call us today at 970.901.0062 or email us at Chris@dcimountain.com for more information or a free quote!