Every year, tourists flock to Lake Geneva and the surrounding areas for both business and pleasure. As a hotel owner, you compete for their business and do everything in your power to make each experience a satisfactory one. However, one of the best-kept secrets of being successful in the hospitality industry is having the right hotel insurance. Whether you run a small bed and breakfast or a sprawling resort, you take a risk every time a guest checks into a room. Your job is to keep your staff and guests safe, as well as make certain your property is well protected against hazards that could threaten your business. The right hospitality insurance helps manage your risk and provide protection when you need it most.
Imagine a bright summer afternoon and your hotel is filled with no vacancies. A guest left a curling iron on in her room next to a towel, causing it to catch fire. Fortunately, the sprinkler system is activated, preventing the fire from spreading too far. However, 3 rooms suffer fire damage, and many more are damaged by smoke. A guest in a neighboring room goes to the hospital after having trouble breathing, and several other guests’ belongings are ruined. In addition, you will have to replace much of the carpet, bedding, curtains, and towels that have smoke damage. The repair and replacement costs total tens of thousands of dollars, and you face a lawsuit from the injured guest as well. Having proper hotel insurance in place can be the deciding factor of whether or not your hotel will survive the loss.
Hospitality Industry and Hotel Insurance in Lake Geneva
At Glass Insurance Center, we help provide coverage for a wide range of hospitality businesses. Examples include:
- Bed and breakfasts
- Boutique hotels
- Luxury hotels
- Resorts
- Roadside motels
- Independent properties
- Franchise properties
- Corporate properties
- Private home rentals
- And more!
We offer a wide range of coverage to meet your needs, whether a guest slips and falls in the lobby or your property is vandalized during the night. A typical hotel owner’s insurance policy might likely include:
Liability Insurance
Liability is perhaps one of the greatest risks a hotel owner is exposed to. You could be sued and held liable for any accident that occurs on your property or as a result of the actions of your employees. A business owner’s general liability policy can help protect you against these incidents – including the ones that are out of your power to control.
Workers Compensation Insurance
When an employee is injured on the job, workers compensation helps pay for medical bills and wages while he or she recovers.
Property Insurance
Property insurance helps cover your hotel’s building and its connected structures against wind, hail, fire, falling objects, explosions, smoke damage, theft, vandalism, water damage and more.
Guest Property Insurance
If a guest’s property is lost or damaged on your premises, you could be held liable.
Equipment Insurance
Your hotel needs special equipment to operate. From washers and dryers to ice machines and kitchen equipment, make sure you are insured against damages caused by covered events.
Employee Liability Insurance
You may be accountable for the actions of your employees. If a member of housekeeping steals from a guest, make sure your liability is covered.
Business Interruption Insurance
When a fire forces your business to close temporarily, business interruption insurance helps you cover the bills and payroll until you are up and running.
Let us take care of the details so that you can spend time doing what you do best – accommodating your guests. Contact our office to speak with a member of our team about how we can help protect your hotel, motel, or bed and breakfast with the coverage your business needs most.
