Taking the time to compare hotel, B&B and guesthouse insurance quotes is an essential part of protecting your business.
Whether you’re running a cosy little guesthouse or an international hotel chain, it’s absolutely imperative that you keep three things safe: your staff, your guests and your premises. Of course, finding an effective hotel insurance policy will ensure you’ve got everything covered, and ultimately help keep your business running smoothly.
You can compare hotel and guesthouse insurance quotes at Quote Goat, as we help you keep your business protected for a great price. Fill out the form through the ‘Get a Quote’ button above, and you’ll soon be discussing some fantastic insurance deals with one of our brokers.
Before you do that, however, you need to make sure you understand exactly what needs to be covered:
What Is The Difference Between Hotel & Guesthouse Insurance?
This can be a little confusing for a lot of people in the hospitality industry, especially when the lines of distinction remain a little blurred. The only real point of reference available to us is the AA’s Star Rating System, which uses the size of the establishment and extent of its services to categorise it.
If you still aren’t sure, a hotel will usually offer a 24/7 service, with a receptionist or similar member of staff always on hand to assist guests. A guesthouse, however, is somewhere in between a B&B and a hotel, usually offering between 5-15 rooms and serving food, but not providing a 24/7 service.
Why Do You Need Hotel & Guesthouse Insurance?
Since you’re so busy running your establishment, finding a great insurance quote might be fairly low on your priority list. However, running a hotel or a guesthouse poses all kinds of risks, meaning that you need to make sure you’re covered in case of fire, flood, damaged property, theft and other unfortunate circumstances.
Although some hotel insurance is compulsory (such as employer’s liability insurance), it’s important to note that no two hotels are the same, and each establishment will require different types of cover. Whatever your circumstances, running a hotel without insurance just isn’t a risk worth taking.
What Does Hotel & Guesthouse Insurance Cover?
Most hotel and guesthouse insurance policies will present you with a plethora of different options and add-ons, so you’ll need to take some time to look into what you actually need to include. For the most part, however, you should make sure you’re covered for the following:
It’s fair to say that your building is probably your most valuable asset, so it obviously needs to be well-protected. Taking out buildings insurance will make sure you’ve covered the costs of any rebuilding works and damage repairs, making sure such a nightmarish scenario doesn’t have disastrous consequences for your business.
When you’ve got a constant stream of guests using your furniture and facilities, it makes sense to have these things covered in your insurance. Contents insurance will include decorations, furniture, lamps and pretty much anything else that could be realistically stolen; while cabinets, carpets and walls will all be covered in your buildings insurance.
This insures you in case of the theft or damage of a guest’s belongings. Since you may be liable for the loss of property (even when it wasn’t directly your fault), possessions cover ensures you’re covered for the cost of replacing or repairing the item in question.
Employer’s Liability Insurance
This is a legal requirement if you plan on hiring any staff. Since you’re trying to run a hotel or a guesthouse, it’s fair to assume you wouldn’t be able to do this without an extra pair of hands. In short, this means you’re covered in case a member of staff has an accident and suffers an injury in the workplace.
Public Liability Insurance
This insures you in case a guest or a visitor has an accident while on your premises, covering the cost of compensation and legal fees. This is an essential type of insurance for all hotel and guesthouse owners.
Business Interruption Insurance
If your establishment has become uninhabitable due to damage, vandalism, fire, or any other circumstance covered in your buildings insurance, then business interruption insurance will make sure your rent, wages and loss of earnings are all taken care of.
Compare Cheap Hotel & Guesthouse Insurance Quotes
The cost of your hotel and guesthouse insurance will depend on a number of factors, such as: the location of your establishment, the number of rooms, your annual turnover and how many members of staff you employ.
Either way, you can always rely on Quote Goat to bring you cheap hotel and guesthouse insurance quotes. Just tap the ‘Get Quotes’ button on our page to fill in your details and speak to an insurance broker.