Business Insurance For Luxury Resorts And Hotels

​Hotel insurance coverage transfers certain risks to an insurance company rather than the hotel bearing the entire risk. Hoteliers face numerous risks related to lodging guests and the amenities their properties may provide.  Here are some essential insurance policies for luxury hotels that should protect you from incidents that could jeopardize your company's survival.

1. Commercial General Liability
   This policy might help protect your assets from third-party bodily injury and property damage that occurs on your property. Commercial general liability insurance covers legal costs or damages resulting from third-party bodily injuries, product liability, and repairing or replacing rented property. There is also coverage for defamation, libel, slander, and false advertising claims.
   
   
2. Commercial Auto Insurance
   Commercial auto insurance covers liability arising from vehicle use and damage. Vehicles such as cars, trucks and vans are covered in this coverage. Auto liability coverage will cover the costs if your hotel's commercial vehicle causes an accident that injures or damages third parties.
   
   
3. Workers' Compensation Insurance
   Workers' compensation insurance will pay for an employee's treatment, hospitalization, medication, and lost income compensation. Working in a resort can result in various accidents and injuries, so having this insurance will help you avoid financial loss.
   
   
4. Cyber Liability Insurance
   A cyber liability insurance policy should protect you from financial problems caused by data breaches or cyber-attacks. Examples of risks that cyber policy protects you from include the leak of personal guest information and the shutdown of operations due to cyber-attacks.
   
   
5. Liquor Liability Insurance
   Liquor Liability Insurance can include this insurance in establishments with bars or restaurants serving alcohol. Liquor liability coverage compensates for damages caused by selling, serving, or furnishing alcoholic beverages. The policy also protects your resort and its employees from damages resulting from bar fights, intoxicated guests, or other alcohol-related claims.
   
   
6. Professional Liability Insurance 
   Professional liability insurance protects your hotel or resort from malpractices and other events that are not covered by your general liability policy. This insurance is important, especially to those resorts that offer massage and spa services, to protect from professional liabilities that may arise.

Safeguard your Hotel and Resort
To summarize, hotel insurance is an important tool for risk management and financial stability in a hotel or resort business. This insurance should cover your physical property, liability risks, financial protection, and employee injuries.

At Desmond Insurance, we put our clients first by offering them policies that they can afford. Insurance is a necessity nowadays, and we're here to help you. Learn more about our products and services by calling our agency at (859) 491-5100. You can also request a free quote by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!