Hotel Insurance, Guest House Insurance or Bed and Breakfast Insurance

Hotel InsuranceWe love travelling and arranging Hotel Insurance, Guest House Insurance and specialist Bed and Breakfast Insurance. The very nature of this kind of insurance often requires us to pop over to visit your establishment to make sure we’ve got all the information we need and of course this allows us to escape from the office for a bit. Prizm are based in Tamworth in the heart of the UK and within easy reach of the whole of Staffordshire and the West Midlands, although we have clients spread right across the UK.

For Hotel Insurance, Guest House Insurance or Bed and Breakfast Insurance A One Size Fits All Just Won’t Work!

 

Owing to our experience in arranging Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance we know that every hospitality business is different and has a very different set of needs and requirements from their insurance broker.

For example a part time Bed and Breakfast business has a totally different risk profile than a hotel or a guest house which is why we don’t have a ‘one policy fits all’ approach.  For us this is simply wrong and why we will spend time learning about your business so we can tailor an individual policy for your specific Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance requirements.

In the hospitality industry regardless of what size, shape and type of business you operate, an insurance policy will usually have a few basic sections of cover.  However, depending upon your business and how you run it there are other areas of Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance which can be added to as necessary.

For example; most businesses want to protect their Earnings if they are not able to trade, and protect their Assets against loss or damage.  Hotel, guest house and bed and breakfast companies will also need to cover their Liabilities but sometimes don’t know why.  This is ok as you are experts in hospitality and we are experts in Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance and we are here to give you help and advice on all aspects of the business insurance you may need.  We love to educate our clients so you really fully understand the insurance you need and why

This is ok as you are experts in hospitality and we are experts in Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance and we are here to give you help and advice on all aspects of the business insurance you may need. We love to educate our clients so you really fully understand the insurance you need and why.

A Short Summary of the basic sections of Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance

Property Insurance – can cover the Buildings, if they are yours.  If you are a tenant property insurance will cover your Tenants Improvements.  If you don’t own the building, we strongly advise you to insure whatever has been spent inside the business on the fabric of the building, plus the Stock and the Fixtures and Fittings and we would usually recommend you insure these against risks such as fire, storm, flood, theft, vandalism, impact together with some less common risks such as earthquake, aircraft or lightning.  Give us a call and we will tell you why we usually make these recommendations and what affect it has to the cost of a Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance policy.

Business Interruption Insurance,  which is also known as Loss of Profits Insurance – if something happens to cause damage to your property and you can’t trade your Business Interruption insurance should cover you and the profits you lost because you couldn’t trade.  You may be interested to know that this can also cover you losing profits if something outside your control like the gas mains are dug up outside your hotel or guest house, or the tourist attraction next door has an incident which results in them closing.  We have seen this in the past few years with incidents that have occurred at our local theme parks in Staffordshire at Drayton Manor and Alton Towers.

Money – this is the theft of cash with the caveat that the loss is within reason. For example if you leave £30,000 in cash in the boot of your car and this is stolen you probably won’t get any sympathy from your insurance company. This insurance can also cover Assault, which will pays a small benefit if someone got assaulted during a robbery.

Glass – This covers the cost of boarding up and replacing broken windows. It can also cover signage and sanitary fittings against damage.

Liability Insurance – We think this is probably the most important aspect of your Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance as you will definitely be dealing with members of the public and may well have staff. Liability insurance covers Employers Liability  which covers you if a member of your staff gets hurt and sues you; Public Liability covers you when a person who isn’t a member of staff gets hurt and sues you – for example a customer slips over or trips and falls down stairs and Products Liability in case something you supply hurts somebody – for example you serve a cup of coffee which is too hot and burns the customer’s mouth, and they go on to sue you.  Liability Insurance is so important because you need large levels of cover for these kinds of claims as just the legal costs can hit six figures, not to mention any payment you may have to make to an injured person.

With Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance you can also add to the basic offering by including cover for Goods in Transit , Terrorism , Theft by Employees (also known as fraud), Frozen Food deterioration, Legal Expenses and even Loss of Liquor Licence – crucial cover if you operate a bar.

Most policies have a 24/7/365 claims reporting line as often things a hospitality business needs to claim for happen out of office hours! 

Hotel Insurance, Guest House Insurance and Bed and Breakfast Insurance is NOT compulsory but if an accident or incident is going to happen it is much better that you are properly insured otherwise you will be responsible for the costs, repairs and compensation. 

H2 heading: You Might Need To Prove You’ve Got Hotel Insurance, Guest House Insurance Or Bed and Breakfast Insurance

It is increasing common for all types of business owners and managers to purchase insurance for peace of mind, but you may be asked to prove you have Hotel Insurance, Guest House Insurance or Bed and Breakfast Insurance if you’ve an overdraft, mortgage or bank loan.

What makes us different from most brokers offering hospitality insurance is that in most cases we do not take a commission from the insurance companies for placing your business with them. We prefer to work on a fee basis which we think is much more transparent and crucial to us building a relationship with you based upon trust and good ethics.  Please click here to arrange a call back or to email us if you would like a quotation or advice on your Hotel Insurance, Guest House Insurance or Bed and Breakfast Insurance.

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