The high footfall in the average B&B makes them relatively risky businesses to run. Guests come in and out all the time, cooking and cleaning is a constant process, so as a B&B owner, you have to be aware of risk. Quality and comprehensive B&B insurance is designed specifically to cover your business against risk. What level of cover do you need and what elements should you policy incorporate? We’ll look at that in more depth below.
Insuring your Great British Bed and Breakfast
The Bed and Breakfast is a British tradition and has provided a steady income for many for years. It is possible to get B&B insurance for both licensed and unlicensed premises although the requirements are a little different. Importantly though, do you know what types of cover should be incorporated in your B&B insurance? B&B owners should definitely consider:
Public Liability Insurance
This protects you and your business against compensation claims made by members of the public. Claims are usually for injury or damage to property which the claimant blames on your business. It would cover your business if a guest were to trip over for example.
Business Buildings and Contents Insurance
Even if your B&B is also your home, you should update your buildings and contents insurance to reflect its business status. It will protect your business should there be a burglary, fire or flood.
Employers’ Liability Insurance
All businesses which employ staff must have employers’ liability insurance. It is likely your B&B employs at least some staff members, so this type of insurance is compulsory. It protects you and your business against compensation claims made by employees and former employees. Not having employers’ liability insurance in place can result in large fines.
B&B owners may also want to consider more specialist insurance cover such as business interruption cover and you can discuss your individual needs when you contact Just Quote Me. Our professional insurance specialists can talk through your options with you.
Just Quote Me can provide you with a range of B&B insurance quotes, allowing you to decide which is best for your needs. Contact us today to find out more.