Hotel & Guest House Insurance

The hotel industry is facing challenging times in the current economic climate, and on top of the daily stresses of trying to keep your guests happy, there may be little time left to decide if you’re current insurance provider is getting you the best terms available.

At Purple Arc, we understand that insurance premiums need to be cost-effective without jeopardising quality. We work closely with our clients to ensure that they choose a policy that not only saves them time and money, but that also fulfils all of their business requirements.

Vital tips to remember when choosing your Hotel Insurance cover:

• Always ask your insurance adviser to explain the terms and conditions to you carefully before the conclusion of the contract is drawn. If you are uncertain about anything, do not proceed until you are confident that you have heard the terms in plain English! Make sure you understand what’s being covered by your policy, and more importantly, what’s not being covered.
• As hotels are often required to be open 24 hours a day, you may find that your insurer insists on certain security precautions being in effect on your premises, such as 5 lever mortise deadlocks on all of your hotel’s external doors. Such requirements are often warranted, but if you are in doubt, ask what conditions your insurer has specified before making an agreement.
• Always make sure that the sums insured on your trade contents represent a full, new cost replacement. Insurers can often have an average clause within their policy agreement, stating that if any items you are claiming for are insured for less than their value at the time of loss or damage, then the amount payable by the insurer will be reduced by the proportion you are underinsured. To avoid this from happening, read through your policy carefully and be sure to seek advice when needed.