Your business is unique. Cover Corps provides customized coverages in the Accommodation Industry.
Typical coverages for the Accommodation Industry:
- Business Interruption Coverage: Or business income coverage, protects your earnings if your business is unable to operate because of damage caused by some type of disruption (fire, hail, wind, equipment breakdown). This coverage, normally included in commercial property insurance, is usually quite affordable and invaluable if you are forced to close your doors for a period of time in order to make repairs. It pays for rent, employee salaries, lost income, relocation fees and more.
- General Liability Insurance: This coverage is a standard part of any business insurance policy. It covers injuries and property damage sustained by third-parties while visiting your business. It also includes product liability insurance, which protects you if someone is harmed by your product.
- Umbrella Insurance: Because insurance companies impose caps on the amount of liability insurance they are willing to provide, umbrella insurance may be necessary if you feel that you need extra liability coverage in order to adequately protect your business. Umbrella insurance takes over where your other liability coverage leaves off.
- Commercial Auto Insurance: Business auto insurance covers your company’s vehicles and drivers that are damaged or injured in a collision or some other type of event. If you or your employees drive personal vehicles for business purposes, you must have nonowned or hired auto liability coverage to protect your company in cases where an employee is an accident while out making deliveries.
- Workers' Compensation Insurance: You are required to cover the cost of treatment of injuries sustained by employees while on the job. Workers' compensation insurance, which is required in most states, provides compensation in these cases.
- Business Owners Policy (BOP): A business owners policy, or BOP, is a comprehensive insurance option that includes the following policies: property insurance, liability insurance, business interuption insurance, vehicle coverge, and crime insurance
- Commercial Property Insurance: This is standard coverage in any business insurance policy. It includes coverage for damages to the structure of your owned building and coverage for your other business assets such as inventory, computers, and furnishings.
Cover Corps also provides specialty coverages for the Accommodation Industry that cover your unique business risks like:
Utility Interruption Coverage: If a covered natural or man-made disaster leads to the loss of utility services, you may need to relocate your guests to another place of business. This is particularly necessary if you have no running water or no electricity or heat for an extended period of time. This coverage can cover your income losses and assist with other related damages.
Cyber Liability Insurance: Protects your business against paying out of pocket for costs related to data breaches or other cyberattacks.
Premises Liability Insurance: Premises liability insurance protects you from third-party injuries that take place within the premises of your business. This includes the inside and the outside of the premises.
Equipment Breakdown: This pays to repair or replace production equipment , computer networks, heating and air conditioning, and other machinery and systems that keep your business running.
Crime Insurance: Can protect your business against losses stemming from robberies. You can buy specific coverage to handle the risks you face both on and off-premises, such as during a delivery or while taking cash to the bank for a deposit. You can also cover yourself against crimes committed by employees while on the job through an employee dishonestly insurance policy.