What insurance do I need as an owner of a guest house?
In addition to building and content insurance, your package should include Public Liability cover to protect you against financial losses resulting from compensation claims. Your policy should include Employer’s Liability cover, which is a legal requirement if you employ anyone, including part-time staff or family members. Consider adding product liability cover too, especially if you provide things such as guest soaps and cosmetics. And your contents insurance should cover both accidental and deliberate damage.
What can affect the cost of my guest house insurance?
Various factors can influence the cost of your guest house insurance, including the type of business you run, how many rooms you have, the services you offer, whether you have a licence to serve alcohol, and whether you employ staff. Your location and your claims history can also play a part in the amount you pay, as well as what kind of hotel and guest house insurance package you want to put together.
How much does guest house insurance cost?
Your insurance policy can cost as much or as little as you want, depending on the level of cover you want. The more cover you have, the higher your annual premiums will be, but bear in mind that the cost of not having the right insurance could leave you seriously out of pocket.
Why choose Park Insurance?
For over 30 years, Park Insurance has been the trusted insurance broker for the hospitality industry. We have a special affinity for this sector and understand the challenges our clients face on a daily basis. As a result, our brokers can fine-tune your business needs to fit your needs and your budget precisely.
To find out more about insurance for guest houses, call our team and talk to one of our expert advisors today, or click on the Get A Quote button for a free, no-obligation quote right now.