Hospitality Insurance Coverage
Whether you run a hotel, entertainment complex, spa, resort, restaurant or any other business in the hospitality industry, you need quality coverage at affordable premiums. If your business is in New York, you may see thousands or even millions of visitors each year, and this can add up to considerable liability risk.
Wide-ranging hospitality insurance coverage with the right protections in place is crucial if anyone is injured at your business, especially if you face legal action. At the same time, you need to consider costs. Paying extra for policies you don’t need will affect your cash flow and can make you less competitive in a challenging industry.
Kokkoris Insurance Services works with businesses in the hospitality industry and can help guide you to the right coverage for the right price. Our restaurant, hospitality and hotel insurance coverage in New York and the metro region are offered through Berkshire Hathaway and Chubb insurance Group and we offer exceptional, personalized customer service.
What Hospitality Insurance Coverage Is Needed in New York?
Your insurance needs will depend on your specific business and the risks it faces, but in general you may wish to consider:
- General liability insurance: This coverage protects you in case any injury occurs to anyone visiting your business.
- Property coverage: This insurance covers assets such as buildings, the contents of your buildings, fixtures and other property.
- Employment practices liability insurance (EPLI) coverage: If an employees file claims against you alleging harassment, discrimination, wrongful termination or failure to promote, this policy protects you.
- Assault and battery coverage: If you have bouncers or security, you may need this insurance in place in case a guest alleges damages resulting from harm.
- Umbrella coverage: Since hospitality businesses see so many guests and may face considerable claims, umbrella coverage is needed in case a claim goes beyond the limits of an existing policy.
- Workers’ compensation insurance: Workers’ compensation pays your employees for medical costs and helps them recover some of their wages if they are injured on the job.
- Business interruption coverage: If your business has to be closed or your ability to make money is interrupted, business interruption coverage helps you keep your doors open.
- Food contamination coverage: If you serve food of any type, from snacks to full meals, foodborne illness can happen. The claims can be substantial so you need insurance to protect yourself against lawsuits arising from this type of situation.
- Liquor liability coverage: Serving alcohol increases your liability substantially. Even if you train your bartenders not to overserve, alcohol can result in drunk driving incidents, brawls, assaults and other incidents that present a risk.
- Automobile insurance: In a hospitality business, auto coverage is required if your business uses shuttles to transport guests or your employees drive cars, trucks or buses as part of your business. In addition, your business may need an additional policy if you have a garage, parking lot or valet service.
Where Can I Get the Right Coverage?
Kokkoris Insurance Services offers insurance for restaurants in New York, Long Island and the surrounding region, plus coverage and risk management services for hotels, spas, resorts and other hospitality businesses. If you’d like to take advantage of our exceptional customer service, free quotes and thorough review of existing coverage, call us at 718-728-0606 or get an estimate.
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