Desmond Insurance Blog
Running a hotel and restaurant company entails a significant deal of responsibilities. It is only checking in or eating in for your clients and visitors, but the services behind it are important as well. So, it would be best if you also understood your commercial insurance as a hotel and restaurant owner.
So, to understand your commercial insurance, you need the information stated below. After reading this, it should assist you in ensuring that your company is adequately insured.
What is Commercial Insurance?
Commercial insurance, often known as business insurance, safeguards your company financially from frequent threats such as client litigation, customer or staff accidents, property theft and damage, and other unforeseeable catastrophes.
Coverage Options of Commercial Insurance
Because business insurance is such a vast term, understanding it entails more than just knowing what it is for. Knowing some of the coverage choices available via your commercial insurance could help you secure your hotel and restaurant better.
Guest Property Coverage
If a customer at your business suffers property damage or loss due to carelessness, theft, or other reasons, this coverage is intended to let you compensate that guest.
Coverage for Utility Outages
If a covered environmental or artificial crisis causes a loss of utility services, you might have to move your visitors to a different location. This is especially important if you are without access to water, electricity, or a heater for a lengthy period. This coverage might help you with income loss and other associated issues.
Coverage for Equipment Failure
Your kitchen appliances like stoves and refrigerators may malfunction due to a mechanical problem, a power outage, or another cause. You risk losing a big amount of money due to tainted food and losing earning opportunities when this occurs. Hence, equipment breakdown insurance should compensate you for your losses and provide you with financial support to perform essential repairs.
Protection for Product Liability
This should safeguard your operations if the meal you serve becomes tainted and causes customers to become unwell. Extra coverage in liquor liability insurance will be required for establishments that offer alcohol.
If you own a hotel or restaurant, you must secure your investment with a comprehensive commercial insurance policy intended to cover your firm from the risks associated with the lodging and food services you offer.
At Desmond Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (859) 491-5100. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Contact us today to go over your specific needs and we are happy to help you find a policy that works for you and your budget!