A lot of hard work goes into operating a hotel, and providing your guests with a satisfying and relaxing experience is your primary focus. Hotels can feature a variety of amenities including a restaurant, boutique, conference center or a swimming pool. Hotel owners may rely on specific equipment to check guests in and out, to keep track of room service requests, and to maintain their employees' work hours. Regardless of your small business's unique features, keeping your hotel's property and resources protected at all times is highly important for combatting financial and legal risks. Lodging insurance solutions through AmTrust Financial can provide you with the level of coverage you need to keep things running smoothly whenever the unexpected arises.

In the hospitality industry, there are many different hazards that could jeopardize your business. Your housekeeping staff could be subjected to workplace accidents and injuries, or you could be faced with extensive property damage if a fire breaks out and quickly spreads throughout your building. If you serve food, a customer could become ill after suffering an allergic reaction to an ingredient in one of your meals.

You can't always predict when a negative incident will happen, but you can be prepared for risks that may threaten your hotel. To shield your business, employees, and guests, hotel insurance solutions through AmTrust can cover many financial burdens associated with unforeseen catastrophes and liability claims.

What Types of Hotel Insurance Policies Should I Invest In?

There are several policy options available to you as a hotel owner. The policy features and coverage amounts you'll need will largely depend on the size of your business and how you run your hotel. Generally, many hotel owners opt to carry:
 

• Workers' Compensation
• Employment Liability Insurance (EPLI)
• Cyber Liability Insurance
• Commercial Package

Workers’ Compensation for Hotels and Lodging

Without your staff, it would be nearly impossible to run your hotel successfully. Even if you provide your employees with safety training and procedures, accidents and injuries can still happen. Required by most states, workers' compensation insurance can help to cover the costs of medical bills and lost wages if an employee suffers an on-the-job accident, illness, or injury. Some off-site incidents may also be covered, as long as the events are work-related. This type of policy is a no-fault system that could potentially prevent an injured employee from suing your hotel for responsibility for his or her injury, in addition to covering claim-related expenses.

Cyber Liability Insurance for the Hospitality Industry

As a hotel owner, you most likely store your guests' personal information on computer databases. If a hacker is able to steal their credit card numbers, addresses, phone numbers, or other personal data, your business could be subjected to lawsuits. Cyber liability insurance may help you recover from the financial repercussions associated with a cyberattack and related legal expenses.

Commercial Package Insurance Coverage for Hotels

A commercial package policy typically includes general liability and property coverage, but it can also include a number of other coverage types, such as employment practices liability insurance (EPLI), cyber liability and more. These policies can be tailored to the specific risks and needs of the hospitality industry.

Written by AmTrust Financial

2022-02-10 13:52:22