How Much Umbrella Insurance Do I Need For My Motel Stay? 

The amount of coverage you need will depend on your exposure, including product and premises liability. It may be worth a little extra to buy additional coverage in case your hotel is sued. You should also consider the value of your assets when choosing an umbrella insurance policy. A policy with a $1,000,000 limit should be at least equal to the value of your property. This is particularly true if you own a condominium complex or motel. 

(Looking for a general liability insurance company? Contact us today!)

Cost of umbrella insurance 

What does the cost of umbrella insurance for a motel stay look like? Well, it depends on the type of coverage you choose and the amount of your liability exposure. In general, motels pay between $350 and $700 per year for a $1 million general liability policy. You can also get additional protection through business interruption and property insurance policies. Here are some examples of what umbrella insurance for motels covers: 

Hotel liability coverage is expensive, especially if you have a large number of guests. Because of this, it is important to choose an insurance policy with high limits and reasonable coverage costs. Some insurers offer a free trial period so you can evaluate the policy and see if it meets your requirements. Another factor is whether you need additional layers of protection. For example, if you’re a hotel that serves alcohol and provides food, it’s important to buy more liability insurance than you’d normally need. 

Layers of $1,000,000 coverage 

Whether you need layers of $1,000,000 umbrella insurance for a motel stay depends on the value of your assets. If you own a hotel, the liability exposure is high. This can include product and premises liability, as well as many occupants. If you rent a room to clients, it is a good idea to get business liability insurance for this purpose. However, this type of insurance is not for personal injury claims. 

Having multiple layers of $1,000,000 umbrella insurance will protect you from costly lawsuits. While your existing home and auto insurance policies will cover a certain amount, you might need to add more coverage to protect your bank account. A single policy may not be enough to protect you from these additional expenses. In addition, there are also specific insurance policies for weddings, anniversaries, and other events. 

Liability coverage provided by umbrella insurance 

Although general liability is the most important type of coverage, you should also consider purchasing other types of coverage for your motel. For example, you should have commercial property insurance to cover any damage to your motel’s property. Then you should have liability insurance for your guests’ belongings. Umbrella insurance can cover these costs as well. Liability insurance for motels is generally between $350 and $700 per year. 

Hotel and motel business personal property insurance cover the structure and contents of your hotel. This coverage can cover your furniture, supplies, and even the personal property of other customers. But be careful: Hotel business personal property insurance has certain limitations and exclusions. You should also be aware of any endorsements available. Some of them can cover items that are excluded by standard policies. And the best way to understand these limitations is to ask a licensed insurance agent. 

Legal defense costs are covered by umbrella insurance 

Umbrella insurance can protect you financially if you are sued for a personal injury. You can be held liable for medical bills, rehabilitative therapy, and lost income. Such expenses can quickly add up if you don’t have the funds to pay them. Umbrella insurance is a necessity for anyone. You don’t want to be left in a bind if you or someone else gets hurt on your property. 

An umbrella policy provides extra protection for a motel stay. Unlike general liability insurance, umbrella coverage covers legal costs that would normally be paid out of your pocket. This type of insurance can last for months if you are sued for more than the liability limits in your other policies. You should consider how much property you own and how many people will stay at your motel. Make sure you buy an umbrella policy with a limit that matches the value of your assets.