Do hotels require Property Insurance in addition to General Liability Insurance?

Yes, hotels may require Property Insurance. General liability insurance covers injuries and property damage to third parties. General liability will protect you in incidents such as slips and falls and damage to guests’ property by your employees, but damage to your own property is not covered. Hotels have a high residential property value and own many expensive contents. If you wish to protect your assets, you may consider adding Commercial Property Insurance to your insurance policy.

Is liquor liability an important coverage for my hotel?

If you serve alcohol, you should consider protecting your business with liquor liability coverage. According to the Insurance Bureau of Canada, if you serve alcohol you could be held liable for injuries or damages to third parties if alcohol is deemed as a contributing factor in the incidents. Any business that serves alcohol is also responsible for ensuring that customers are not served past the point of intoxication, which is extremely difficult to keep track of, especially in a busy environment.

Is Cyber Liability Insurance necessary for a hotel?

Cyber liability may not necessarily apply to all hotels, but many hotels and lodging establishments do utilize electronic data that makes them susceptible to cyber attacks. For example, a hotel may have a website where clients make reservations online. The website may also accept electronic payments from customers, and customers’ financial and personal data may be stored in the hotel’s systems. A cybersecurity breach for such an establishment could lead to severe problems if the establishment is not protected by Cyber Liability Insurance.