Deciding on the right hotel or motel insurance in Indiana or Ohio can be can be a challenge.  There are many policies out there that simply don’t offer the coverage you need, while others cover many things you will never use.  So what do you need?

Hotel and Motel Insurance Policy Components

General Liability Insurance

This coverage is going to protect you from a variety of potential claims. Some of these examples can be bodily injury, property damage, personal injury and others that can potentially come up if you are found negligent.

Liquor Liability Insurance

If you are selling alcohol, this is an absolute must.  It will protect your business from personal injuries and property damages for a liability lawsuit.

Equipment Breakdown Coverage

Your business is very dependent on the systems you use – heating, air conditioning, and laundry for starters.  If any of those break down unexpectedly, you will want to have a plan to get back in business quickly.  Equipment breakdown will offer coverage for these items.

Workers Compensation Coverage

In most states if you have employees then this isn’t even a questions of do I want this? This is a must to be able to employee staff. Workers Compensation (otherwise known as workers comp) is strictly designed to ensure payment by employers for some part of cost of injuries to an employee. Some examples of this can be things like:

• Injury at Work
• Disease caused by work environment

In most cases an incident would need to take place while the employee is at the place of employment, however it would be best to discuss with your local independent insurance agent for more of a case by case basis.

Loss of Income Insurance

What happens in the event you are unable to open your station due to a claim? This in most cases would cause a major hardship for you as a business owner. You wouldn’t be able to serve your customers which in turn means no income coming in.

This is where Loss of Income Insurance is imperative. This coverage would allow you to have a “back up” plan in the event you were unable to generate an income due to a covered loss.

Property Damage

This would allow you coverage for damage to your building, inventory, or equipment. Most policies would offer you a replacement cost coverage to these items so you would be able to repair or replace these items for today’s cost.

To make sure you have replacement cost coverage on property it is important to check with your independent insurance agent.