29 October 2014

Top Reasons Why Every B&B Should Take Out Insurance

Cosy and intimate, B&Bs are one of the UK’s favourite holiday accommodation options. Yet for owners, running a B&B presents a number of risks. Read on for a list of some of the most common issues faced by almost every B&B establishment across the nation, from chic inner city terrace homes to quaint country guesthouses.

Buildings and contents

As a B&B landlord, you have a responsibility to ensure that your premises are safe, secure and habitable at all times. This means that as soon as any structural damage occurs, it will need to be immediately fixed. This is both for the safety and comfort of your guests.

Loss or damage to guest property

If guest property is missing or damaged during their stay, you may be held liable – especially if it is due to a third party theft. Having a B&B insurance policy in place that covers loss or damage to guest property will ensure that any disputes are resolved quickly and efficiently. This will help keep your guests happy and prevent any negative reviews.

Loss of income

If your B&B was forced to cease its operations, could it survive the blow? Whether it’s due to structural damage or another factor, a B&B insurance policy that includes loss of income cover will give you the peace of mind that your establishment will be able to take the hit.

Frozen foods

Does your B&B utilise frozen food? If so, having frozen food cover in your insurance policy will provide you with financial assistance should anything go wrong with your freezers or delivery.

Public liability

Every business manager has a responsibility to ensure that their patrons are safe. Yet even the most careful of B&B managers can fall victim to cases of guest injuries. Having a public liability policy in place will offer all the help and assistance you need should a guest come to harm as a result of something that occurred on your property.

Employer’s liability

Whether you employ three staff or a team of thirty, employers liability is a legal requirement which ensures your staff are protected from any workplace mishaps.

Cash theft

Every business faces the risk of cash theft and B&Bs are not exempt. Whether it’s due to dishonest employees, opportunistic guests or third party thieves, a B&B insurance policy that includes cash theft cover will give you the peace of mind that your hard earned money is well protected.

Fire & flood damage

According to industry statistics, fire and flood are two of the UK’s major triggers for insurance claims. Make sure your premises are protected with an insurance policy that covers fire and flood damage and will help your B&B get back on its feet.

Regardless of your décor, clientele, location and room rates, every B&B should protect itself and its guests with a comprehensive insurance policy that covers all of the above scenarios.