Hotel-Motel Insurance for the Hospitality industry is protection carefully tailored to the specific business needs of the hotel and motel owner. While each property is different and the scope of operations vary, most hotel-motel insurance policies include the following general areas of coverage:
Commercial General Liability
Commercial General Liability (CGL) protects your business from bodily injuries to people and property damage you become responsible to pay due to negligence arising out of the operation of your hospitality business. If your business requires, we may also add coverage to the CGL portion of your policy for the following:
- Liquor Liability if your hotel includes a bar or offers alcohol for in room or hospitality functions including the operation mini-bar dispensing from in room devices.
- Restaurant and food service operations for the operation of restaurant and food service on the property including room service for in-room meals. Food borne illnesses and other hazards that may arise would be covered with this endorsement.
- Cyber Liability is a newer form of protection that address the exposure of your computer and data management systems to malevolent attack, breach or corruption where personal information of guests and employees may have been compromised.
- Employment practices liability insurance is also a newer form of protection that responds to allegations of illegal employment practices brought as complaints and lawsuits by disgruntled employees who content your business has or is engaging in unfair employment practices.
- Employee Benefits liability may be needed to protect against the potential losses that may arise from mismanaging an employee benefit coverage or benefit.
Building, Equipment, and Business Personal Property
While liability is your largest potential loss, there can be no doubt that your investment in physical facilities is a substantial and failure to properly insure your property exposes the business to financial failure if coverage is not properly configured and if important adjutant protections are not included.
Buildings are all the constructed structures that make up your hotel. Equipment usually means all permanently installed devices like elevators, compressors, security and alarm equipment and equipment used to service your property. Your business personal property includes all furnishings, electronics, décor items, flooring and the other moveable equipment used on the property in the hospitality services. You should insured at 100% of the cost to replace these items and you should have an accurate inventory of equipment and apparatus. The following are additional property coverage that you should consider including on your coverage:
- Equipment Breakdown specifically insures the types of losses that are not covered in the general property coverage such as mechanical breakdown, electrical arcing, and similar.
- Computer Equipment is a special area of property coverage that has become a more important area of protection. It deals specifically with computer and data coverage issues.
- Crime and Employee Dishonesty is a critical area of concern for hospitality businesses. You cannot predict which employees will be dishonest or when you will be victimized in a robbery. Crime of theft and employee dishonesty can delivery hard blows to the delicate financial structure of your business so crime and dishonesty coverage is generally advised.
- Utility interruption insurance coverage extends to protect against prolonged interruption of power and utilities like water. It will compensate for the costs of accommodating guests who can no longer use your facilities.
- Business Interruption coverage is (we believe) an essential addition to your property coverage. It provides a continuation of income in the event your hotel must be closed while repairs are made for a loss to the building that we cover and lost income or diminished income may be able to pay for up to one year following the loss.
Other coverage you may have a need for include business auto, umbrella liability, event cancellation insurance, Guest relocation expense coverage, and mobile equipment (inland marine) for catering services that you provide off your immediate premises address. You may also elect to purchase Innkeepers Liability for losses to the guest property in excess of any legal liability.
We are a source of insurance for well managed and well maintained hospitality properties that are modern and where a pride of ownership is evident. Our carriers provide several risk management services to aid you in managing your risk to loss and the carriers may be able to provide other advice on how to better operate your facilities to accomplish better overall results.
This agency operates in Ohio and Michigan and the lead agent is also licensed in Indiana. Contact Terry McCarthy for further information or inquire about obtaining hotel-motel insurance for your business. Reach us at 513-779-7920 M-F from 9-5. Other hours available by appointment.
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