Owners of Bed & Breakfasts may live at the house where they are offering rooms for rent, so they may believe that a home insurance policy is sufficient protection for them. Home insurance policies cover the damages in the event that the house needs to be repaired or rebuilt after a disaster, such as a fire. The policy may cover everything within the house, including appliances, furniture and even kitchen utensils. These policies also have liability that will cover the medical bills if a guest is hurt on the property. However, Bed & Breakfast owners may experience losses for reasons that other homeowners will not.
If the Bed & Breakfast were to burn to the ground, the owners would experience an interruption in their income until the house can be rebuilt. A regular home insurance policy will not cover this loss of income, so Bed & Breakfast owners need Business Interruption insurance for this purpose.
Similarly, a General Liability policy offered to a business that is only open for a portion of the day would not be sufficient for Bed & Breakfast owners. The Bed & Breakfast is open for business 24 hours a day, and liability concerns are present every minute of this time. A Bed & Breakfast owner would need a policy that takes this reality into consideration and covers this extra risk.
Some insurance companies sell insurance policies for the specific needs of those who own Bed & Breakfast establishments. These policies have increased coverage for the liability issues that these owners face, and they can cover the owners’ loss of income if there is a disaster that causes the Bed & Breakfast to close for a time. The agent that Bed & Breakfast owners find will be able to help them put together a policy that covers all of their risks at a price they can afford.
This article is provided by shophomeinsurance.net, a leading resource for home insurance.