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As a business in the hospitality industry, you go above and beyond each day to give your customers a great experience. As brokers, we put the same energy into providing the best coverage to protect you and your business. Our commercial insurance specialists work with you to create customized solutions for all aspects of your business to ensure that you are protected in the event of unforeseen circumstances.
Who needs Hospitality Insurance?
A few types of businesses that may need this insurance coverage:
- Bed and Breakfast
- Convention Centre
- Golf Course
Insurance solutions for businesses in the Hospitality Industry, generally include the following:
- Business Personal Property – Business personal property insurance provides coverage for the building, equipment, fixtures, furniture, merchandise, etc., identified in an insurance policy as owned by the insured and used in the business.
- Business Interruption Insurance – Business interruption insurance provides protection for your cash flow and your future earnings in the event of a fire or other disaster.
- Commercial Crime Coverage – Commercial crime policies are designed to insure against certain types of losses that are not covered by a standard commercial property policy, such as employee dishonesty, theft and forgery.
- Disappearance and Destruction Insurance – Disappearance and destruction insurance provides coverage against losses caused by employee fraud and forgery, among other causes.
- Guest Property Coverage – Guest property coverage extends to property placed inside a safety deposit box on the business property, and legal liability for damages or losses incurred while in the insured’s possession.
- Accounts Receivable Insurance – Accounts receivable insurance provides coverage in the event that a customer fails to make debt payments.
- Valuable Papers Insurance – Valuable papers insurance provides reimbursement for the value of valuable papers or records (such as building permits or corporate charters) that are destroyed or lost.
- General Liability Insurance – General liability insurance provides coverage if your business is found to be legally liable for damages caused by bodily injury or other physical injury, personal injury (including libel and slander), advertising injury property damage as a result of your products, premises or operations.
- Events & Liquor Liability Insurance – Event and liquor liability insurance protects your business against damages or injury caused as a result of intoxication.
- Umbrella Insurance – Umbrella insurance serves as an additional layer of liability insurance. It protects your assets from major claims and lawsuits.
- Commercial Auto Insurance – Commercial auto insurance provides coverage for physical damage and liability coverages for vehicles used for business purposes.
- Non-ownership Automobile – Non-owned vehicle insurance provides coverage when you or your employees use vehicles for your business that are not covered under your commercial auto insurance policy.
Given the complex and specialized nature of businesses within the hospitality industry, it is important that you speak with your insurance broker to make sure that you have the proper insurance coverages in place. Doing so will help protect your bottom line and provide peace of mind.