Liability Coverage | Hotel Insurance Coverage
A hotel is a multi-faceted place of service. With each service a hotel offers, the risk of liability keeps on increasing.
Hence, it is important for hotels to have a good Business Insurance Plan. The liability coverage in hotel insurance protects the hotel from any potential accidents and covers any losses from such accidents.
When we think of a hotel, there are so many services that come to mind. A hotel offers a myriad of services under one roof. It has everything from lodging, dining, drinking, parking, laundry services, recreational facilities such as swimming pools, game rooms, entertainment rooms, and so much more. With so many facilities, come many risks.
A guest could get food poisoning after consuming the hotel’s food, there could be an accident in the pool or the game room, a car could be damaged or stolen from the parking lot, the list is endless. To add to that, a guest could sue the hotel for an injury or other damage which could add to legal bills. It comes as no surprise that hotels possess a number of expensive amenities and infrastructure to be able to provide all the services mentioned above. This makes it prone to burglaries.
There are several types of Liability Coverages that you should look for before purchasing insurance for your hotel business. Here are some of them:
The General Liability Insurance covers any losses that occur from an accident of a guest on the hotel premises. This can include anything from injuries, burns, fractures to food-borne or water-borne diseases that the guest caught in the hotel. It also covers damages to the property caused by unforeseen accidents.
The Cyber Liability Insurance helps settle claims that are derived from a data breach. It also covers any losses that occur due to hacking or invasion of electronic property. With the increase in the advanced technology used in the hotel industry, cyber crimes are becoming increasingly common. It is advised to have insurance for such cyber liabilities that can be a threat to your hotel business.
The Umbrella Liability Insurance covers any extra expenses that may not be covered under the General Liability Insurance. It acts as an additional safety net for your hotel business to ensure better protection and fewer damages to property or people. It is a good idea to opt for Umbrella Liability Insurance to take that extra step towards creating a safe hotel experience for your guests and staff.
The Employment Practices Liability Insurance provides coverage for any kind of legal settlements for claims occurring from employment issues. Employment issues can be allegations of discrimination on the grounds of race, gender, and other factors, wrongful termination, harassment claims, and others. It is important to have EPLI to safeguard your employees’ workplace rights.
The hotel industry is one of the most booming industries in the world. But with such a flourishing business come extra costs and liabilities. This is why it is important to understand your hotel Business’s Liability before you purchase Hotel Insurance.
For more such insights on Business Insurance, you can check Exceed Insurance Blogs.