Illinois Hotel Insurance Programs

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Illinois Hotel Industry Snapshot

  • There are currently 1,460 properties in the Illinois hotel industry
  • Illinois has 154,000 guest rooms and 144,090 hotel jobs
  • Chicago’s accommodation tax rose from 16.4% to 17.4% in 2016

Illinois Hotel Insurance Programs

If you own a hotel in Illinois, you want to insure your business with the correct protection. That way, you can better protect your hotel’s financial stability.

Exceed Insurance offers coverage in many cities in Illinois, including Chicago and Springfield. Our team of agents can help you find the right hotel insurance policy and protect your business against unforeseen losses.

Exceed Insurance has collaborated with multiple insurance companies to develop insurance offerings that expressly meet the needs of Illinois hotel owners. With the right coverage, you can protect your hotel against unforeseen losses.

  • Property Coverage: We can provide coverage for your building and your business’ contents. Our property coverage helps fund repairs and replacement of items associated with your property in case of a covered loss.
  • Business Income Coverage: A suspension of operations may halt business, resulting in a loss of revenue. This coverage option can help cover loss of revenue.
  • Equipment Breakdown: Broken air conditioning systems, stoves, and cooktops can all be costly expenditures without the right insurance. This coverage helps fund repairs so you don’t lose revenue fixing it alone.
  • General Liability: Guests or other third parties may suffer a loss on your property. If they suspect negligence, they may seek damages. This coverage offers protection against these financial consequences
  • Employment Practices Liability: Employee allegations of discrimination, wrongful termination, harassment or other employment issues can lead to costly legal fees. This coverage will help alleviate the cost of defending a claim.
  • Commercial Crime: Guests and employees may commit various acts of crime, including theft. This coverage offers financial protection from such acts.
  • Commercial Auto: Any vehicle owned by your hotel will need insurance that meets your state’s requirements. We have comprehensive coverage options for business vehicles.
  • Workers Compensation: Illinois law requires businesses to carry workers compensation insurance not only to protect the business from lawsuits, but to also protect injured workers.

Each Illinois hotel is unique, and therefore it needs specific insurance coverage. Consider your hotel’s size, accommodations and location when you start looking for a policy.

Exceed Insurance works with insurance carriers with local, regional, and national presences. You can rest assured that our policies will meet your needs that are specific to Illinois. Our skilled agents can help you build a hotel insurance policy that is right for you. Contact us today to get started!

Additional Resources

Berkshire Hathaway Guard
The Hartford
Liberty Mutual
Indiana Farmer
Universal Property
State Auto
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