Insurance For Those Who Run Bed And Breakfast Properties
A Bed and Breakfast, often referred to as a B&B, is a private residence with several rooms of which are set aside for overnight guests whose paid accommodations include breakfast. Modern Bed and Breakfast often consciously tries to recall earlier days - they are generally established in charming older houses which have been refurbished and adorned with antique furniture.
Hence insuring one's bed and breakfast property is a better idea to recover any loss caused accidentally. Also, if a guest is injured while staying in the bed and breakfast, and if the adequate liability cover is not in place, the owner has to face the loss. Another important reason to insure one's property is incase one has to close its doors for a while, especially during peak season, due to any number of problems such as fire and storm or a violent or accidental event at the premises. Hence insuring your property at the right time and right insurer will help a prospective owner to compensate the loss.
Most of the bed and breakfast insurance policies cover one's personal property, liability exposures, and optional coverage such as those incurred through business. Property coverage include special cause of loss, actual cash value or optional replacement cost, business income and extra expense, newly acquired or constructed property and business personal property.
The policies available could also cover bodily injury and property damage, contractual coverage, personal injury, advertising injury and host liquor liability. Optional coverage includes crime, food spoilage, guest inconvenience coverage, employee benefits administration liability and ordinance and law coverage.
Generally most insurance policies cover all the bed and breakfast activities including the supply of food and drink. The coverage can be extended to weddings, garden parties, visits by day trippers to historical homes, in-house gymnasiums, fishing and bicycle use, limited horse riding activities and even legal liability cover on stolen credit cards.
Most insurance companies prefer to be informed about changing circumstances within a bed and breakfast property. The management companies should be aware of this responsibility ? existing building policies may be affected if there is an increase in the number of bed rooms from that shown in the schedule, and the change not conveyed to the insurers in time for their consideration.
Hence before getting in to any insurance package, it is advisable that the prospective customer rationally selects the package that suits him the best by shopping around and comparing terms, conditions and premiums on a like for like basis.
Jason Hulott is Business Development Director of ProtectionInsurance. Protection Insurance is an internet based insurance business dedicated to getting consumers the very best insurance rates and the best products. Products include UK Car Insurance,UK Home Insurance and Self Build Insurance
Life Insurance Fears Post The London Bombings Tragedy
Following on from the tube train and bus bomb attacks in London there was a move from several UK insurance companies to reassure victims that claims would be processed "quickly and sympathetically". This need for reassurance came in light of concerns that many victims of the blasts would not be covered by their existing health and life insurance cover. This would mean that families of the bombing victims could not only lose a relative, but also suffer financial hardship as life insurance companies refuse to pay out on policies.Standard Life, Axa-PPP and Norwich Union all announced that policy holders would be covered for events on the 7th July. Standard Life said that...(related: Insurance)
Terrorism Insurance - What It Costs Small Business
The Terrorism Insurance Act of Nov. 26, 2002. This helps businesses who must have insurance from being denied, which would kill those businesses. Our General Liability Insurance Numbers have jumped about $100-300 depending on the market area. But if you consider that there have been no terrorist attacks since 9-11 this is high. For instance you are 500 times more likely to incur hail damage in Colorado than you are to get car jacked by a terrorist if you are driving a fuel truck. The trucker...(related: Insurance)
What Is Renters Insurance Really All About?
Renter's insurance is protection intended for anyone who rents an apartment, home or other live-in dwelling. Purchasing renter's insurance can protect you against the risk of fire, theft, windstorms, falling objects, smoke, and vandalism. Another important aspect of renter' insurance is that it protects you against liability in the unlikely event that someone meets harm or injury in your home...(related: Insurance)
Senior Health Care Insurance
Health Insurance For Seniors On The NetWhen a good friend of mine inquired where he could obtain information about medical insurance for his out-of-state, elderly mother, I told him to try the Internet.He reported back to me about a week later, in desperation: "I am giving up, I am too confused." He had taken on an overwhelming project with his widowed mother, living in another state. As the only child, and following the sudden death of his father, it was his responsibility to care for his mother.In this world of technology, the family unit is often living in different geographical areas and the family members are usually quite involved with their own lives, careers, and families. In addition, when both p...(related: Insurance)
Home Insurance Terms
Home insurance, or even homeowners insurance, is an insurance policy that combines insurance on the home, its contents, loss of the use of the home (additional living expenses) and, typically, the more individual possessions of the homeowner, as well as liability insurance for accidents that can transpire at the home.The cost of homeowners insurance scales upward depending on what it would cost to replenish the home, and which extra "riders", meaning extra items to be insured, are bound to the policy. The insurance policy itself is a long contract, and list what will and what will not be paid in the case of various cases.Virtually all insurers charge less if it appears less likely the home will be damaged or even destroyed: as an example, if the...(related: Insurance)
Will Online Automobile Insurance Quotes Really Save Me Money?
If you're looking to save money on your auto insurance then online automobile insurance quotes are definitely something you want to look into. But there are more benefits to shopping online besides saving money. Receiving you car insurance quote online is fast, extremely easy, and exceptionally convenient. Generally speaking the quotes you qualify for are generated with...(related: Insurance)
Understanding How Your Credit History May Affect Your Car Insurance Coverage
Many personal auto insurance companies consider your credit information when determining how much premium to charge for your insurance. So if you are calling around for new insurance, keep in mind that many insu...(related: Insurance)
Do Insurance Premiums Increase Every Year?
Many people ask, "If I am supposed to get a renewal discount, why do my premiums seem to increase with each renewal?" The answer is not always so simple. Each year, new vehicles ...(related: Insurance)
Long Term Care Insurance - Low Cost Alternatives For Budget Conscious Seniors!
With Nursing home Cost's running $4,000 to $6,000 a month and outpacing inflation, it is a small wonder that most seniors cannot afford the Long term Care insurance premiums. Their are low cost Alternatives available for seniors who just can't afford the rising cost of these Premiums.Many Seniors even question if they need Long Term Care Insurance. Take a look at...(related: Insurance)