When you work on the coast and open any sort of resort—small or large—there’s hospitality insurance available for a wide range of functions of your business. Every resort is different, but there’s surely a better way to safeguard your business, keep your guests happy, and remain operational at all times.
Take a look at what hospitality insurance does so that you get a clearer picture of what you can do to safeguard your life’s work and most precious investment.
What Does Hospitality Insurance Cover?
Hospitality insurance is designed to assist restaurants and hotels in the course of their work. While the range of coverages is quite vast, you can expect your policy to handle:
- The property
- Added coverage for flood damage
- Beachfront property
- Additional buildings or structures
- Innkeeper’s liability
- Umbrella or excess liability
- Bed bug coverage
- Crime coverage
- Advertising and signage
- Hired and owned commercial vehicles
- Liquor liability
- Hotel shuttles and much more
Liabilities Faced by Coastal Resorts
As mentioned above, there are several liabilities facing coastal resorts. Yes, you must protect the property and purchase liability insurance. That’s a boilerplate.
You need to do more, though. Why? Because, while cyclones rarely, if ever, reach the West Coast, flooding and storm damage can still happen. You would be remiss if you didn’t carry windstorm or flood insurance.
Umbrella coverage extends your limits in the event of a catastrophic claim against your business. Crime coverage protects against employee theft and outside criminal activity.
As a hotel, you must have bed bug coverage because an infestation can be extremely costly. Liquor liability is required if you have a bar—you don’t want to become the target of a lawsuit.
You also need coverage for all the vehicles the hotel owns along with coverage for the shuttle service.
And finally, you need coverage for the beachfront property because, if your hotel owns that section of the beach, you must be prepared to care for it in the event of a disaster.
Unique Considerations for Coastal Resorts
Remember, coastal resorts have a few issues that you may not have considered, but each of these items should cause you to increase your coverage and set up a safer culture within the hotel—for your own protection and that of your guests.
- While no one wants to consider it, human trafficking could occur in any hotel room
- High tides could wash away property set up on the beach
- If the beach is damaged by a storm, you must bring it back to normal
- Outdoor surfaces, decks, and walkways are a breeding ground for slips, trips, and falls
- Coastal resorts, no matter how lovely, offer a relaxed environment where guests imbibe, and could escalate relatively minor squabbles into physical or verbal altercations.
Contact Cormarc Insurance for Assistance With Hospitality Insurance
Reach out to our team at Cormarc Insurance for assistance with your coastal resort, hospitality insurance, or any combination of the two. We’re happy to help protect your biggest investment, tailor coverage to your hotel, and ensure that you can easily get your money’s worth out of these policies.