Hotel Insurance

UKinsuranceNET have highly experienced advisers with up to 30 years experience in providing cover for Hotels, restaraunt's, Bed & Breakfast establishments and all types of licensed premises. Whether you cater for the business traveler, Holiday makers or long term guests we can help.

We have a wide range of providers starting with AXA and ending with Zurich. Literally the A - Z of hotel insurance companies. Our policies provide for the property and all liability risks. Of particular importance to Hotels is business interruption cover. Inadequate cover in this area can mean a hotel faces a very real threat of bankruptcy. Therefore we recommend that you look very carefully at this section of the policy as cheap hotel insurance does not necessarily mean best.

 

Hotel insurance is very similar to bed and breakfast insurance. The main difference being that a B & B will not usually be licensed and therefore loss of license cover is not required. Having adequate cover is vital if you are running a hotel as absence of cover of inadequate cover can lead to financial ruin. The only statutory obligation you have if you run a hotel is that you have employer’s liability insurance although we highly recommend that you have business interruption cover as a relatively simple incident could close you down for months.

Hotels are subject to a mass of regulation and you may find that if you do not comply with all statutory requirements you are in breach of your policy terms and conditions. The main areas to consider are

• Health & safety regulations
• Food hygiene requirements
• Fire and Safety procedures
• Noise pollution to surrounding residents must be considered
• Kitchen requirements

Our Hotel insurance is modular so you can start with basic commercial buildings insurance which will cover you for all basic perils such as fire, flood and subsidence and also the more unusual ones that are unique to hotels and B & B Insurance such as damage to fixtures and fittings by water from a sprinkler system (Although this can be part of a shop insurance policy as well). Business contents insurance can have many sections. Like nightclub insurance hotel insurance has a much higher sum insured for fixtures and fittings but the stock sum insured is generally lower than you would find in a retail establishment. Cover can be extended to include, Wines & Spirits, Tobacco office contents insurance and money on and off the premises. Additional extensions such as business interruption and increased cost of working cover can also be added for a small addition premium. Like pub insurance you can also add cover for loss of licenses.

When considering your buildings insurance sum insured it is important that you use the reinstatement value of the Hotel and not the current Market value. This should include the hotel building and outer buildings including swimming pools etc.

• Business Interruption - provides cover against loss of revenue while being closed down, either due to a claim being made or unforeseeable circumstances like flood and other weather damage to the restaurant.

• Engineering Cover – provides cover for electrical and mechanical breakdowns. It is essential for many hotel services, for example, lifts to be subject to regular inspections.

• Theft – provides cover in the event that there is damage to the building and contents stolen followed a forced entry burglary. Staff theft is covered under fidelity insurance.

• Money - provides cover while in a safe, in your home, on the premises or in transit.

• Public Liability - protection against members of the public being covered in the event of any injury or damage to their property

• Product Liability - protection against claims made due to damages caused by your products or services.

• Employers’ Liability - protection against legal actions following an injury occurred by a staff member

• Goods Insurance – provides protection for the safety of goods in transit to the hotel.

• Credit Insurance – provides protection against customer non-payment. This may be left to the insurer’s discretion, as to whether it is provided or not.

• Fidelity Insurance – provides protection against employees that fraudulent and dishonest behavior.

• Legal Expenses – provides cover for any legal expenses incurred following any disputes with customers and or staff.

UKinsurancenet continue to work closely with some of the biggest names in insurance such as Zurich, Royal Sun alliance & AXA.

Contact UKinsurancenet on 0845 365 1264 and speak to one of our highly experienced consultants who will be pleased to give you a quotation. Or use our online service for instant results