Table of Contents
Introduction
Owning a bed and breakfast is the dream for many people – as the Pet Shop Boys say, it gets you out of Suburbia! Yet, it’s not always easy to make this happen. One of the most important aspects of business ownership is making sure you are properly insured. This blog post will cover what business insurance B&B owners need.
Getting the right guesthouse insurance
This is where we can help. You can check us out at our website – www.emeraldlife.co.uk for an insurance quote as an online quote, or call 0330 113 7109 to speak to one of our trained advisers
What else might it be?
Some people think of this as guest house cover, or breakfast insurance cover (if you are doing this through AirBnB for example) but we tend to refer to it as bed and breakfast insurance in full. But again you might think about insurance for guest houses, guesthouse insurance or just simple bed and breakfast insurance.
The need for insurance
In the hospitality industry, it is important to have business insurance for various reasons. One of which is that many people are unfamiliar with how B&Bs work and what they need in order to stay safe or comfortable. There are a lot of different types of policies available, so we’re going to cover some of them here.
Emerald B&B Cover
Remember that you need a good insurer – Emerald often does not charge more for being a house with B&B facilities, or catering cover. You can check us out at our website – www.emeraldlife.co.uk for an insurance quote as an online quote, or you can call 0330 113 7109 to speak to our trained advisers on guest house insurance, business insurance or any other useful insurance policy that you may need.
And what type?
Liability insurance:
Liability insurance covers you if someone gets hurt on your property or has an allergic reaction from something in your home – and is sometimes called public liability insurance.
You also want this if you offer cooking classes in your guest house kitchen (even though you will need to make clear warnings about liability as well – but depending on the skills of the guests we cannot offer tasty breakfast insurance!).
This is the same for business as it is for your home insurance policy.
Property coverage:
As property owners of a guest house, you will need to make sure that you have the right guest house bed and breakfast insurance for your property.
If someone breaks into your house while you’re away or while you have guests staying, this will pay for the cost to repair any damage done by the break-in as well as any thefts. This is the same as standard buildings insurance (ie home insurance) in relation to its cover.
You may also need this to cover your personal possessions or guests’ possessions (although there will be will be some qualifications that will apply, particularly if you have a previous claims history) to include loss of money, accidental damage.
You will also need to consider general buildings insurance for your bed and breakfast insurance, and we can provide general contents cover too – even if you have more than one building.
Food poisoning insurance:
Yes this can even be covered as an additional cover – just in case you have a dodgy sausage that a guest eats. That does not mean breakfast insurance though!
Legal expenses cover:
What if you get sued for a breach of copyright for your guest house logo for example? What if someone steals your identity or opens a rival guest house as you? This cover can help with your legal expenses and legal costs for such things as employment disputes.
Emergency repairs cover:
Many guest house insurance policies will have this as one of their optional extras/additional cover, but you may want to consider having it – for good reason.
Employers Liability Insurance
This is mandatory and will be part of any small business insurance, including guest house insurance, and will cover you for liability, compensation awards, compensation and the like.
What keeps you awake at night?
Do you know what guesthouse insurance cover you need to run a bed and breakfast? Whether it’s home or commercial property, liability, medical payments, or other risks that might affect your business, there are many insurance options available.
We have listed some above, but make sure when you pay your money to have your insurance needs covered, you have your exact needs met, whether with standard cover or with add ons.
That’s why Emerald, with our trained advisers, can be here yo help our customers to get the right cover for an individual business, such as yours.
Insurance: Homeowners Insurance vs Commercial Property
Insurance How do they differ? What is the difference between liability coverage vs home insurance coverage? What about crime coverage for guests belongings stolen from their room while staying at your B&B? What is adequate cover?
Let’s discuss these important questions in our blog post!
Bed and breakfast owners are at a high risk of liability because they have the public (paying guests) coming in and out of their home on a regular basis. Public liability insurance is often overlooked by bed and breakfast owners, but it’s an important part to consider when running any kind of business that is open to the public.
Conclusion
There are at least three different types of insurance that you may need for your bed and breakfast, depending on the type of business.
The first is general liability insurance which covers a variety of claims including property damage or bodily injury incurred by visitors to the B&B. It also includes coverage for an owner’s personal belongings if they happen to be in use at the time such as their laptop computer.
You will want this kind of policy so that there is no question about who pays when something happens.
Next up is guest medical coverage which protects against injuries caused by accidents while guests are staying with you, but it does not cover any pre-existing conditions like diabetes or high blood pressure.
Finally, you may require contents insurance which provide liability protection
Understanding the different types of insurance you need for your bed and breakfast can help protect both yourself and your business at a reasonable cost.
If you are thinking about getting a bed & breakfast inn or a B&B, it is important to understand what type of insurance coverage you need. Here at Emerald we have created this simple blog so you can get started understanding if the right kind of insurance for your business needs may be available from us.
We hope that by reading through these tips, you will know more than ever before and feel confident in making the decision on which types of coverages best suit your needs as well as those who come stay with you!
Do any other questions still loom when it comes to ensuring safety? Talk to one of our agents today and find out how we can help provide peace-of-mind protection for both yourself and your guests.
B&B Coverage FAQs
Liability cover:
When you rent out your property as a bed and breakfast, you should invest in liability insurance.
Liability insurance protects the public against damages they may incur on your property and covers injuries incurred by customers who have an adverse reaction to something within your home.
For example, if one of your guests gets hurt while staying with you or have an injury whether or not caused by you, you will need this cover.
Property damage insurance :
Consider how you can protect your property, like a bed and breakfast, with the right insurance for business owners.
If someone breaks into your house while you’re away or while you have guests staying, this coverage will pay for the cost to repair any damage done by the break-in as well as any thefts. This is essentially what a standard insurance policy does for homeowners who are concerned that their homes might be broken into (ie: home insurance) but for your business.
You may also want to take out insurance to cover your personal possessions and guests’ belonging for loss or damage in the event of accidental damage within your bed and breakfast business.
Which cover will you need? When it comes to bed and breakfast insurance, there are a lot of different aspects that may apply. We can offer liability protection for your public areas, make sure we offer the necessary cover for general buildings too – even if you have more than one building.
Food poisoning cover:
Yes, this can be covered as an additional coverage if necessary – just in case the food is questionable. Sorry to be blunt!
Legal expenses insurance:
What if you or one of your staff is sued for a breach of copyright? Or what if someone steals your identity by opening up a business establishment the same as yours with your information eg on existing customers? This insurance can help with legal expenses and litigation costs and make sure you are covered.
Emergency repairs insurance:
Many B&B policies will have this as one of their optional add ons, so you may want to consider having this covered
Employers Liability Insurance
This is usually compulsory and will be part of any business insurance policies, including guest house insurance, and will cover you for liability, compensation awards, compensation and the like.
What insurance does a hotel need?
Liability:
If you’re a hotel owner, liability insurance covers you if someone gets hurt on your property or has an allergic reaction from something in your home.
But having public liability is also important for any business that offers cooking classes in the guest house kitchen – no matter how good your guests’ skills are.
Property:
You need to consider insurance when you are running a hotel, as this will cover any break-ins and thefts.
If you have a previous claims history, you may also need to purchase loss of money and accidental damage coverage.
You will also need insurance for all of your general buildings, as well as insurance coverage in case a guest is injured on your property.
Legal costs cover:
If you get sued for a breach of copyright on your logo, or someone steals the identity of your hotel, cover can help with legal expenses.
Emergency fixing cover:
Many guest house insurance policies will have this as one of their optional extras/additional cover, but you may want to consider having it – for good reason.
Employers Liability Insurance
This is mandatory and will be part of any small business insurance, including guest house insurance, and will cover you for liability, compensation awards, compensation and the like.
How many B&Bs are there in the UK?
Members of parliament have noted in the latest news round-up that there are at least 24,000 B&Bs and guest house business across the UK, with a combined business turnover well in excess of £2 billion and have stressed the importance that B&Bs play to provide accommodation cover in non-urban areas.
They claim that this business is often the only available accommodation for customers at any cost and play a key function in supporting local livelihoods and providing a bed for the night.
Article summary: guest house/guest house insurance/buildings insurance/guest house bed and breakfast insurance/insurance policy/public liability insurance policy
Emerald Life is registered in the United Kingdom on the financial services register and is authorised and regulated by the Financial Conduct Authority but with no registered trademark, firm reference number 666615, registered office in England and Wales. Other UK insurers are available and regulated by the FCA.
