Why Purchasing Hospitality Insurance is Important

Business owners know that – at any time – they could be held liable for virtually anything and everything. This is even truer in the hospitality industry. A business could be named in a lawsuit for an accident that occurred off the premises or even if they were only vaguely connected to the actual establishment. For this reason, it is essential to stress to your clients that purchasing hospitality insurance is a great way to protect their establishment and their pocket.

 

Reasons to Purchase Hospitality Insurance

 

1) Coverage is affordable

One of the largest liabilities for those in the hospitality sector that insurance covers is liquor liability. This coverage is relatively low priced and there are a number of businesses that can easily afford such cover. The cost associated with not having this protection can be significant.

 

2) Comprehensive coverage protects the business

Comprehensive coverage has become one of the most popular policies, as it offers commercial property coverage, general liability coverage, liquor liability coverage, excess coverage, and more. This type of policy is beneficial to a range of businesses, including restaurants, taverns, caterers, social clubs, hotels, and many others.

 

3) Safeguard the investment

Business owners, naturally, want to protect their investment. One lawsuit can be significant enough to take down a business and its profits. Insurance is quality coverage that safeguards the business owner and their livelihood. The cost of insurance is low compared to the cost of facing disaster without protection.

 

ABOUT RMS HOSPITALITY GROUP

 

At RMS Hospitality Group, our expertly crafted policies are written specifically for the hospitality industry. We offer custom-tailored solutions to meet any venue’s specific needs. For more information, contact our knowledgeable experts today at (888) 359-8390.

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COVID-19 UPDATE:

At RMS and associated firms, business continues as usual. Our staff is remote-capable and available to handle all partners, brokers, and insureds at the present time. Contact us today!