Hotel Stays, What you are insured for and What Is Excluded
There are numerous incidents that are a common occurrence within the hotel industry today. Because of this hotel insurance was created in order to cover the losses that might be brought about by such disasters. It is recommended that when you are looking for hotel insurance you should choose a policy that will cover all possible damages which may happen during your stay. This article will cover what is exactly covered in a hotel insurance policy and what is excluded.
The hotel industry just like any other business out there also faces risks in terms of property damage. These damages are in most cases caused by natural disasters such as earth quakes, forest fires, floods, tsunamis and so on. There are also other factors such as theft and fire that come into play due to human activities. The damages that are brought by these calamities are usually very expensive to repair and will in most cases bring a financial imbalance to you by creating a huge burden. A hotel insurance policy ensures that this burden is lifted from both the hotel owner and the person staying at the hotel. The insurance avails the needed expenses as well as financial support in the unlikely event that property gets damaged.
The insurance also covers the liability claims of customers. This basically covers any legal claims or any compensation they might seek in case anything goes wrong during their stay. Accidents that occur due to slippery floors or mistakes made by the employees will obviously make the hotel owner liable to compensate the occupant. In some cases the accident might be very serious and this will even attract a higher compensation. Because of this even hotel owners are starting to make use of insurance policies. The policy saves the owners from unnecessary expenses and at the same time ensures that your stay at the hotel doesn’t come to a sudden stop due to misunderstandings you might have with the owner.
The employees at the hotel can also make liability claims should they get hurt during their work at the hotel. As a rule of law any injury or even death which occurs at the place of work makes the management responsible in compensating the affected. Whether the accident happens in the hotel room or in the premises this rule still applies. However, hotels that have a comprehensive insurance policy don’t have to worry about this. The policy will cover all the liability claims made by the employees.
To ensure that your stay at the hotel is never interrupted the hotel owners have a business interruption insurance policy. This is meant to guarantee that your stay at the hotel will be smooth and without any unnecessary disturbances. This policy will make sure that the hotel continues to run regardless of any incidents.
The best way to seek a hotel insurance policy is by approaching insurance brokers as they can customize the policy to meet specific needs of their customers. The broker will measure all the risks that are involved accurately and then suggest the most ideal policy for you. The broker will also take care of all the legal proceedings and claims in case there is any need which will relieve both you and the owner from the extra work. The policy will also cover damages to hotel stock, the loss of income and licenses. There are also other instances where the insurance will not cover you for instance when your items are stolen if you left the hotel room door open for example. However, the exclusions are always different depending on the hotel and it would be best to go through your hotel insurance policy before seeking compensation.