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hotel door roomAs a bed and breakfast, your daily goal is to make your guests happy and to keep them relaxed.

However, accidents happen. Mistakes are made. And, in some cases, storms come in. With the right amount and type of business insurance, you can keep your bed and breakfast operating properly and ensure that you don’t have to face significant financial loss in the process.

Is hotel insurance right for your Bed and Breakfast?

What You Need in Business Insurance

As a business owner, you need a customized insurance policy that addresses your specific needs carefully. You’ll want to choose a policy that’s much more like a hotel insurance plan than a basic home insurance plan. Your policy will need to cover:

  • Higher liability risks. More people on the property mean a need for more than just basic general liability insurance. You’ll need coverage to minimize the risks associated with lawsuits.
  • You likely will have business property on site that’s not otherwise covered in a traditional home insurance plan. This could include kitchen equipment, computer software, and storage.
  • If your business has to close for a covered repair, you’ll also appreciate business interruption insurance. That is often a key part of hotel insurance.
  • Special event coverage may also be a part of your plan. This can help to cover the losses you face should a planned event, such as a wedding or family reunion, not occur.

Your hotel insurance plan needs to be customized to meet your bed and breakfasts’ needs. For example, if you shuttle guests around, you may need a commercial auto insurance plan. You may need coverage for product liability if you serve food or have a gift shop. And, you may need flood insurance depending on your location.

The good news is you can work closely with your business insurance team to create a policy that is a better representation of your unique needs. You’ll want hotel insurance that’s customized to the value and types of services you offer at your bed and breakfast. What’s more, you’ll want it to carefully represent the risks you face while also keeping your costs as affordable as possible.

The right plan can make all of the difference to the financial security of your location. If you have questions about business and hotel insurance, call Exceed Insurance today at (855) 539-2333.
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