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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As a tree surgeon, I was struggling to find insurance to suit my company needs. I spoke to Tony at Edison Ives, his service was outstanding and prompt. He tailored my cover to suit my needs. Would absolutely recommend.
I have been dealing with Edison Ives for a couple of years and fined that both Tony & Ged have in depth knowledge of the insurance required all the Staff are very friendly & always helpful we have developed a great working relationship which will continue for many years.
Edison Ives have provided me with a high standard of customer care and attention. Sarah and the team advised and sourced insurance cover that ensured our business properties and clients obtained a high level of service and value for money.
We have held our Fleet and Professional Indemnity insurances with Edison Ives for a couple of years now and the service has always been second to none.
Sarah and the team respond promptly to any queries and we have always found them to be extremely helpful and understanding of our business needs.
We would not hesitate to recommend Edison Ives to any prospective customers.
Thank you.
Clever Energy Boilers
Great Service as always from Sarah at Edison Ives. They provide an excellent, professional service for our Buildings and Contents insurance at our two Sites. Always a pleasure to deal with and nothing is ever too much trouble.
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We are delighted with the service received from Edison Ives, Ged and the rest of the team. We wouldn't hesitate to recommend them to anyone in future! Their advice and recommendations have been invaluable to us. Very professional, efficient and extremely helpful.
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Very Professional and always goes the extra mile to get you the best deals. We have switched all our business and fleet to Edison Ives. Saved our company money, Brilliant Service and very helpful. Tony is excellent! Would highly recommend.
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Excellent follow up with all queries covered.
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I would be happy to use again and recommend
I was referred to Edison Ives by the British Insurance Brokers Association and Tony was able to find an insurer that reduced my landlord cover from over £1300 to £495. I was over the moon and Tony made it all easy and straightforward. I would have no hesitation in recommending them to others.
As leaseholders we took the rights to manage our own flats. Not knowing anything about what needs to be done, Edison Ives (Tony) was of very good advice and guidance in taking out a building insurance for our flats. Clearly the personalised and trustworthy approach made us decide to work with them (as well as the money they made us save). I would highly recommend them to anyone taking on their rights to manage! Thanks.
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.
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!
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.
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.
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?!
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.
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.
Excellent service. They saved me 100s of pounds on my building insurance policy!
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.
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.
I find insurance documents long, complex and full of jargon. Thankfully Edison Ives' picked out the key points and communicated them clearly.
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.