How Much Is Insurance on a Big Motel? 

When you own a motel, it is important to get several different types of insurance. The most important kind is general liability, but you also need to have other types of insurance. For example, you need to have commercial property insurance to cover any damaged property that your motel may experience. Also, you may want to get Umbrella insurance as well. This type of insurance will protect your business from many types of risks. 

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General liability 

It’s imperative for any big motel to carry general liability insurance, but there are many other types of insurance that motels should also consider. For example, your policy should cover any damage caused by a guest’s car or falling on the property. In the unlikely event of a lawsuit, you should have additional insurance in place. A policy that covers these costs would cost between $40 and $45 per month, but it’s worth it to protect your business. 

The insurance policy will cover expenses for medical or extermination, but it also covers any damages to a guest’s property. For example, suppose a guest becomes infested with bed bugs while staying at your motel. General liability insurance may pay for the medical bills and extermination costs. This type of insurance is mandatory for many national chain motels. You must follow certain guidelines to make sure that your business is compliant with the requirements of your parent firm. 

Equipment breakdown 

When comparing the costs of business insurance, it is easy to get overwhelmed. The number of different options can make it difficult to know what you need, but a good place to start is with equipment breakdown insurance. It is often a separate policy, or it may be an add-on to another type of coverage. The cost of equipment breakdown insurance will depend on the size of your business and the industry you are in. Also, your annual income will affect the price. 

The Hartford offers equipment breakdown coverage as part of a BOP. This policy typically includes business income insurance, commercial property insurance, and general liability. These policies also come with optional endorsements, which are insurance add-ons that you can purchase. For example, if you operate a motel, you can add insurance coverage for off-premises utility services. You may also want to add a data breach policy. 

Workers compensation 

Almost every hotel has employees, and if one of them is injured at work, the owner is responsible for paying benefits. Fortunately, there are ways to protect yourself and minimize your exposure. In this article, we’ll discuss some of the best options for protecting your business and your employees. Regardless of whether you operate a small, cozy hotel or a giant chain, workers compensation insurance is a necessity. 

The first step is to make sure your workers compensation policy covers you. Make sure your coverage includes the types of injuries that could result in a claim. If your business employs multiple people, you will probably want to cover each of them with a different type of insurance policy. Keeping records of any accidents is crucial. If the employee is not able to recall what happened during the accident, it will be difficult to prove that he was hurt. In addition, your testimony must match up with doctor’s reports or other early accounts of the incident. 

Umbrella insurance 

An umbrella policy can help protect you in case of a lawsuit arising from a mishap at your motel. For example, if your teenager decides to throw a party at your motel while you are out of town, the umbrella policy will cover your costs if someone drinks too much alcohol and gets into an accident. It could even cover libel and slander if a neighbor sues you for making derogatory remarks about their home. You may also be sued for wrongful termination, as well as pain and suffering. 

Whether you’re a homeowner or a married couple, having umbrella insurance can protect you financially if you get in over your head in an accident. Teenagers are considered the most dangerous drivers on the road, and their crash rate is three times higher than that of older drivers. If you own a swimming pool or have teenage drivers at home, you may want to consider getting umbrella insurance for them.