The hospitality industry can be one that is fraught with disaster. Sometimes Mother Nature intervenes. In other situations, it is the employees or the patrons who are at fault when something bad happens. No matter what the cause, it is extremely important for these businesses to carry the appropriate hospitality insurance. This type of insurance is especially critical for hotels, providing them with the coverage they need to protect themselves.
The Building and Contents
In most hospitality industry establishments, the primary concern is the building itself. However, when it comes to hotels, there is more than the building that needs to be covered by the insurance. Most hotels have grounds that must be covered, including swimming pools, as well as items that are used for the hotel’s purposes, such as bedding, furniture, cooking implements if there is a restaurant, fixtures, air conditioners and more. All of these items must be included in the insurance coverage.
Customer Claims
Hotels serve customers in a wide variety of areas. They may provide food and drinks in a restaurant, accommodations for overnight guests and space in their conference hall for business conferences or other parties. With each of these areas of service, there is room for something to go wrong that can lead to a lawsuit. With the tendency for the general public to sue when anything bad happens, it is important to have the hospitality insurance you need in case it happens to you.
Liability Risks
Anytime a business has employees or offers a product to their customers, there is the risk of illness or injury occurring. In a hotel, there may be working conditions that can cause employees to fall ill or become injured. The food and drinks served can become tainted for a variety of reasons and cause illness among your patrons. When you have the appropriate employer’s and product liability insurance in place, you won’t need to worry about how you will cover these damages.
Owning a hotel can be a lucrative venture, especially if you are in an area that attracts a lot of guests, whether for business or pleasure. When you purchase hospitality insurance for your hotel, it is critical for you to ensure the insurance covers the building and all the contents, as well as any lawsuits that are brought forth by the people you are trying to serve. Finally, it is important to make sure you have the right liability insurance to cover any illness or injury to employees or patrons that are as a result of your hotel and its products.
To learn more about why you need hospitality insurance for your hotel, visit RSI-Insurance.com
