Motel owners have a lot of money tied up in their business. By purchasing motel owners insurance, you can protect your investment from litigation and various kinds of damage.
Accidents happen all the time, and we can’t always prevent them from occurring. Therefore, as the owner, you must address the various risks that exist. With motel owners insurance you can transfer the responsibility onto your insurer instead of managing all the risk yourself.
Here at Property Insurance HQ, we’ve been assisting motel owners since 1985. Our licensed agents specialize in motel insurance and are industry leaders in risk management. We also offer competitive rates from some of the nation’s top carriers.
Yes, you most certainly do! The hospitality industry is full of risks; therefore, you want to make sure your motel is protected. Common risks include guests tripping and falling in the parking lot, foodborne illness, a fire, a cybercrime, and more.
With the help of insurance, you can better combat the legal and financial risks that exist.
The cost of motel owners insurance will vary from business to business. If your motel is in good condition and you have a clean insurance record, then you may be able to save a bit on your rates.
Therefore, to get a feel for the cost, here are the factors that can impact your rate:
When deciding how much coverage you need, take into consideration the fact you’re more likely to have a liability claim on your hands than anything else. We understand this can be surprising given that your motel is likely your largest investment.
Since accidents and injuries occur frequently, you’ll need extensive general liability insurance.
Some other coverage types you’ll need may includes:
If you’re unsure about how much coverage you need then talk with one of our trained professionals.
Additional coverages: