Hotel Insurance – What You Need To Know!

Hotel Insurance

You know that the hotel industry can be a roller coaster ride. Local events, currency fluctuations, inclement weather, the health of the economy and the affordability of travel all influence hotel occupancy rates.

It is important that you fortify your business operations by purchasing the right hotel insurance policy. It is important that you have the right hotel insurance, and that it leaves leaves no holes that expose you, your business or your employees.

Protect Your Hotel

Hotels come in all shapes and sizes; the industry has a tremendous range. A one-size-fits-all hotel policy will inevitably leave gaps in your cover which expose you. A bespoke policy is best to make sure your specific risks are acknowledged and minimised.

Hotel insurance policies are usually composite, consisting of several core covers and a variety of industry-specific and optional covers. In this article we run through the main options and offer a little explanation to assist.

Hotel Cover

Insurers will typically include the following covers in their core hotel policies:

Buildings insures property such as the hotel, annexes, garages, small outside buildings, walls, gates and fences.


Contents
covers items within hotels such as furniture, furnishings, equipment, stock and machinery.


Employee protection
pays expenses associated with your employees’ death, loss of limb(s), loss of sight, temporary total disablement, and clothing and personal effects.


Business interruption
recoups any loss of business income due to damage covered under your contents or buildings cover.


Business liability
contains employers’ liability, public liability, products liability and guests’ property liability (including motor vehicles in hotel garages or car parks which are securely locked overnight).


Legal expenses
helps pay the costs associated with defending or pursuing certain legal actions such as contract disputes, employment disputes or prosecution defence.

Contact Edison Ives Insurance Solutions today or call on 0113 3904646 for more information.

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Quick Guide

Hotel Insurance: Optional Covers

Core covers may be supplemented with optional covers to protect your business against all insurable perils. This list is only a small sampling of the available optional covers:

  • Cost of obtaining alternative accommodation for guests
  • Guests’ and customers’ personal effects and valuables
  • Loss of attraction
  • Computer breakdown
  • Equipment breakdown
  • Employee theft
  • Terrorism

Hotel Insurance: Exclusions

Despite the inclusive nature of hotel insurance policies, there are still exclusions that insurers will generally look to exclude. The following is typically excluded:

  • Stock shortages
  • Computer or data processing equipment operator error
  • Computer virus or hacking (cover available under a separate cyber package)
  • Terrorism (cover available as an optional extra)
  • Theft of goods while in transit unless the vehicle is securely locked
  • Theft by the insured or resident manager (or member of your family)

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I had a lot of problems trying to insure my rental new build flat, these guys were very courteous and solved the problem for me at a good price.

Sam W Property Owner
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I found Edison Ives while searching for home insurance which would provide cover for a house which shares the property with a home-based boarding kennel business. Tony was able to find me a very competitive package, and walked me through the whole process step by step. Tony could not have done more to help me, and for a new-start business his help and advice was invaluable. Absolutely Five Star!

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Customer service exceptional. Thanks to Edison Ives we got a competitive price for our block of flats insurance. Following that we had a claim and Ged helped us with this from start to finish. I would highly recommend.

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Really very helpful. After having a claim in 2016, our premiums were extremely high. Edison Ives have found us a higher policy at a cheaper rate that our previous insurers.

Anonymous Fish & Chip Shop Owner
Who knew insurance could be fun?!

Ged gave me comprehensive advice in simple English and I now feel reassured that I have the right cover at the right price. He understands me and my business and is a joy to deal with. Who knew insurance could be fun?!

Ellan Campbell-Swann Owner - PR and Events Agency
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Very easy to deal with and very professional. So much better than dealing with the massive impersonal call centres, and Edison Ives still came back with a better premium. As with all insurance, it's not the buying but the claims process that's important. I get the feeling that should a claim be necessary they will do everything possible to support.

T.J. Property Owner - Residents Association Chair
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As the Director and owner of Edmonds Recruitment, it was essential to me to be able to find a trusted insurance partner to help me find the right Business Insurance that worked for me and my industry. I highly recommend using Edison Ives and specifically Tony Suryavansi. He will take the time to listen and answer any questions you may have about your policy and should you need him in the future, Tony makes himself readily available for ongoing advice.

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Excellent service. They saved me 100s of pounds on my building insurance policy!

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I was really impressed with Edison Ives. They bent over backwards to arrange our business insurance. Nothing was too much trouble for them and they were a pleasure to deal with.

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I can highly recommend Edison Ives. They have got me a really good price on my restaurant insurance and been really helpful throughout. Thanks a lot, I'll be moving all my insurance to them this year.

Tom Restaurant Owner
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I find insurance documents long, complex and full of jargon. Thankfully Edison Ives' picked out the key points and communicated them clearly.

Amarjit Builders merchants
Thanks

I had been with my broker for a number of years and I never realised I was paying more than I needed to. Edison Ives went through my existing policy, highlighted that I was under insured, and then they managed to source a new package that provided a lot more cover at a similar price.

Cieran Surveyor