CBIZ INNKEEPERS INSURANCE BLOG

Insights and tips on how to protect your inn or bed & breakfast, giving you and your guests peace of mind.

Hayden Ward
/ Categories: BLOG Articles

3 Reasons You Need Innkeepers Insurance for Your B&B

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There are so many decisions you have to make daily in order to keep your innkeepers business running smoothly. It can feel a bit overwhelming, just like navigating the insurance world. With a plethora of providers, policies, and coverage needs, insurance is something not to be taken lightly. Rest easy knowing that you have the best, most comprehensive coverage for your bed & breakfast.

3 Reasons You Need Innkeepers Insurance for Your Bed & Breakfast:

1.Bed & Breakfast Insurance covers all of your insurance needs under one house

Consider it a one stop shop for all your insurance needs … property, inland marine, liquor liability, personal and general liability coverage bundled into one convenient policy. Homeowners’ insurance will most likely not cover all of these, forcing you to go to different providers for each one.

Bed and breakfasts have to wear many different hats —for example, hosting weddings, large gathering/parties, or entertaining guests for a lovely weekend retreat, not to mention the complimentary breakfasts and services you provide. With a commercial innkeeper’s insurance policy, all of those are covered under one roof.

2. Homeowners Insurance will not be able to cover you as a commercial property

When you list your bed and breakfast property online and money changes hands, you’re engaging in a business activity, and the stakes go up. Property owners face risks associated with property damage, liability, and lost income that homeowners’ policies typically don’t address.

A standard homeowners insurance policy will not be able to help with employees’ compensation, liquor … all the things you need for your inn to run at ease. Nor will it protect you in the event a guest has an injury on your property.

3. You need to have your liability risks covered

Don’t ignore the genuine risks you have as a business owner when having a property with guests. There are many ways an owner could be injured, even if you take all appropriate safety precautions. Bed and breakfasts, inns, and lodges all have routine up-keep measures, and risks are not always foreseeable. Homeowners’ insurance policies typically exclude liability for these types of injuries when they occur as a result of business activity. However, if a guest is injured during their stay, you can be held personally responsible, and your assets could be at risk.

Commercial bed and breakfast insurance protects against liability for guests’ physical injuries, as well as liability and claims related to advertising. For example, let's say a guest is injured while staying at your bed and breakfast. They file a lawsuit to recover their medical costs, claiming that a loose handrail on your property caused their injuries. A commercial insurance policy would cover the cost of defending your claim and any damages or settlement payments (up to the policy’s limits).

Get the Protection You Need Today

Outside of some limited exceptions, homeowners’ policies usually don’t provide the coverage you need to protect your bed and breakfast. Commercial innkeepers insurance, on the other hand, can cover property damage, liability claims, employee benefits liability, lost income and more.

Whether you own a secluded lodge on the lake, a cozy beachfront inn, or a ranch in the peaceful desert, having guests on the premises comes with unique risks. With the CBIZ Innkeepers Insurance program you’ll rest easy knowing that you have comprehensive coverage. Speak with one of our CBIZ Innkeepers Insurance experts today!

This blog may contain scenarios that are provided as examples only. In an actual claim situation, coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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CBIZ Innkeepers Insurance, a division of CBIZ Insurance Services, Inc., is the largest insurer of innkeeper businesses in the United States. As part of an $850 million New York Stock Exchange traded company (CBZ), we developed a specific policy coverage to meet the needs for inns and bed & breakfasts, and the amenities offered by these businesses. Our policy is underwritten by an A.M. Best Rated A++ (Superior) company.

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