What to Look for In a Hotel Insurance Provider

November 6, 2013

hotel insurance program Do your due diligence before you sign up with a hotel insurance program in order to avoid being taken advantage of and to avoid not getting all of the coverage that you need. Another reason it’s so important to check the background of potential hotel insurance providers is that hotels have spas, restaurants and fitness centers, each of which are essentially separate businesses under a single roof. You’ll want to find an insurance provider that has experience handling so many aspects of a hotel.

Find a Good Broker

A good insurance broker will be able to help you navigate the waters of hotel insurance. They’ll have inside information in addition to experience, allowing you to be sure that you find a reputable hotel insurance program. Be sure that both you and your broker take a close look at the financial condition of whatever hotel insurance providers you’re considering. If you ever have to make a large claim, you’ll want to make sure that you insurance company will be able to adequately cover it. There are online resources that you can use to find the ratings for different insurance companies.

Experience Counts

How long has the hotel insurance company you’re considering been in business for? Are their claims adjustors local or do they have to be flown in? Find an insurance company that comprehends that your hotel’s total market value might not necessarily reflect the full cost of rebuilding or repairing. Your area’s price of materials and labor play a huge part in construction costs.

Make sure the insurance companies you’re considering also offer all of the coverage that you’ll need to keep your hotel up and running.

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