What is the Average Rate of Insurance for a Motel?
If you own a motel, you probably have to pay more for liability insurance than you might think. Hotel liability insurance, for example, covers damage to another person’s property but won’t pay for war-related expenses. But liability insurance can pay for medical costs if a guest slips and falls on the property. It also covers the costs of car accidents. A hotel liability policy can cost as little as $40 to $45 a month.
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$67 to $99 per month
A motel is a type of business that offers to lodge to the public. Unlike motels, which are usually small and have only one or two floors, hotels have many amenities and services. They may offer meeting facilities, a bar and lounge with live entertainment, and even laundry services. Motels, on the other hand, are generally smaller than a hotel and have doors that open to the outside.
Hospitality indemnity insurance protects you even if you’re found to be at fault
Whether you’re the owner of a hotel, manage a guesthouse, or run a small inn, hospitality indemnity insurance can protect your business and your assets. It pays for damages in court, reimburses medical bills, and covers legal fees. In addition, it covers your hotel’s property, including its furniture, electronics, carpeting, and amenities.
Hospitality indemnity insurance is an essential part of any hotel operation. It protects you even if you’re found to be at fault in a hotel accident. It can cover employee salaries and cover the costs of damaged or stolen property. This insurance also pays for food spoilage or equipment breakdowns. It can even cover loss of income from an event cancellation. It’s also a legal necessity to get medical insurance for your employees.
Exclusions from coverage
If you are running a motel, you should pay close attention to any insurance exclusions. Many policies exclude injuries caused by alcohol service. Others deny coverage because the victims were physically assaulted. In Piligra v. America’s Best Value Inn, Inc. (La. App. 3d Cir. 2010), these exclusions were cited as examples. This case makes the point that it’s important to understand the fine print on any policy you buy.
It is crucial to carefully review the exclusions of any policy if you own a motel or other hospitality business. Exclusions can cost you a fortune if you suffer a loss. Many business owners don’t realize they have any exclusions until they suffer a loss. The first step is reviewing the policy forms. In case your motel offers childcare, make sure you include coverage for molesting children or abusing staff.