Hotel Motel Insurance Ohio Policy Information
Hotel Motel Insurance Ohio. Hotels provide lodging to the general public. Rooms may be rented on a short-term or long-term basis. The hotel may offer a bar or lounge (sometimes with live entertainment), beauty or barber shops, child or pet care, full-service restaurant, gift shops, laundry, and dry-cleaning, limousine services, spas, or various recreational attractions. Many hotels also offer meeting facilities for seminars and conferences.
Motels tend to be less than four stories high with doors opening to the outside rather than the inside of the buildings.
The hospitality industry is not immune from litigation, and hotels and motels are at risk to facing claims for liability that often lead to bankruptcy or at least financial distress for the hotel owner or company. For instance, when a hotel manager went into labor while on duty in Ohio City in 2011, giving birth to her child in one of the hotel's guest rooms, she filed a $10 million lawsuit against the hotel.
In her claim, the manager said that her supervisors rushed her out of the establishment following the birth, did not grant her maternity leave, and terminated her employment a short time afterwards. Scenarios such as this one are not uncommon.
Hotel motel insurance Ohio protects your business from lawsuits with rates as low as $67/mo. Get a fast quote and protect your property now.
Hotels, motels, and other businesses in the hospitality industry face various risks that can lead to financial trouble. Even something as innocuous as an unauthorized guest in a hotel room can lead to litigation if the guest becomes injured while on the premises.
OH hotel owners must be prepared for any potential situation that arises, since they can be held liable for anything that happens on their properties. The hospitality industry is faced with many high-profile claims, so it makes sense to protect your individual business with a comprehensive hotel motel insurance Ohio policy to cover your financial obligation if a suit is decided against you.
Insurance for Hotel and Motel Owners - What's Covered?
Although your specific hotel motel insurance Ohio insurance needs are based on your particular circumstances, there are some types of universal hotel motel insurance Ohio coverage that all hotel/motel owners and businesses need. Some of these include:
- General liability insurance. This type of insurance protects your business from loss due to bodily ideury or property damage from guests who stay on your property.
- Commercial auto liability coverage. If your hotel offers shuttle serve or limo service and owns the vehicles used for the service, then you need OH commercial auto insurance to cover any potential liability caused during the use of the vehicle. OH state miniums are $15,000 / $30,000 for liability. Compare that to your risk tolerance to make sure you buy enough coverage to protect your business' finances in the event of a claim.
- Worker's compensation insurance. Protect your employees with worker's compensation insurance. Worker's comp provides monetary compensation and medical payments for workers who are injured or become ill due to a work-related issue. OH requires that employers provide this insurance for all non owners.
- Liquor liability coverage. Many hotels serve alcoholic beverage or operate bars on their premises. Liquor liability coverage protects you from losses due to the actions of intoxicated guests who cause bodily ideury to themselves or others or who cause property damage.
- Foodborne illness coverage. If you offer room service or have a restaurant on site, then foodborne illness can become an issue. Foodborne illness policies or riders to your business insurance policy can pay for claims stemming from serving food contaminated with salmonella or E.coli, among others.
- Cyber liability coverage. Data management or computer breaches are covered by cyber liability insurance. This protects your hotel business from claims arising from illegal access to your guests' names, credit card data, and other information.
- Premises pollution coverage. When pollutants such as mold spores cause ideury to employees or guests, this coverage pays for punitive damages, cleanup costs, and medical costs for those affected.
- Employment practices coverage. If an angry former worker or current employee sues you for an alleged employment infraction, then this insurance helps pay associated costs.
Protecting Your Assets With OH Hotel Motel Insurance
Protecting your hotel's assets protects the investment you have made in the property. Some coverage types to consider include:
- General property insurance. Protect your hotel's decor, carpeting, furnishings, electronics, and other assets with general property insurance. This hotel motel insurance Ohio coverage provides compensation for property that is lost, stolen, vandalized, or otherwise destroyed.
- Equipment breakdown insurance. If your equipment fails, your business may come to a standstill without equipment breakdown insurance. This is true of everything from computer equipment needed for guest reservations to equipment in the kitchen or HVAC system throughout your business. This insurance kicks in and ensures that you have the funds needed to make needed repairs or replace equipment.
- Business interruption insurance. If a covered peril forces the closure of your business on a temporary basis, this coverage ensures that you have adequate income for paying salaries and expenses.
- Utility interruption insurance. If a serious utility outage causes your business to lose money, then this hotel motel insurance Ohio provides loss compensation.
- Hotel guest relocation rider. If a utility outage or other covered peril necessitates relocating guests, this type of insurance can provide compensation for the losses sustained as a result.
These are some basic coverage types for hotels; the list of potential policy addendums and add-ons is lengthy. Your particular hotel motel insurance Ohio policy should be tailored to your needs, risk tolerance, and assets that you need to protect. Work with an agent to determine what your specific risks are and how you can protect yourself from potential loss.
Ohio Motel's And Hotel's Risks & Exposures
Premises liability exposure is high due to the number of guests and visitors. The motel should meet all life safety codes to assure guest safety. To prevent trips, slips, and falls, the motel must be well maintained with floor covering in good condition. The number of exits must be sufficient and well marked, with backup lighting in case of power failure. Steps should have handrails, be well-lighted, marked, and in good repair. Balconies should be regularly inspected and maintained.
Swimming pools, exercise facilities, and playgrounds should be limited to guest use only, and be properly maintained. Parking lots and sidewalks need to be in good repair, with snow and ice removed, and generally level. Access to rooms should be through an electronic keying system that changes codes for each guest to prevent unauthorized access. Employees who have access to universal access codes and cards should be monitored for the protection of the guests. Personal injury losses may occur due to alleged wrongful eviction, invasion of privacy, or discrimination.
Products liability exposures can be high if the motel has a restaurant or lounge. Employees should be trained in the proper handling of consumables to prevent foreign objects in food, food poisoning, or the spread of other transmissible diseases. Other product liability exposures can arise from vending machines and gift shops.
Workers compensation exposure is moderate. Cleaning and maintenance operations can result in lung, eye or skin irritations and reactions. Slips and falls, back injury, hernias, sprains and strains from lifting or working at awkward positions are common. The parking lot and sidewalk snow removal may be handled by employees or outside contractors. If employees are responsible, there are potentials for strain and fall injuries. Food preparation operations can result in cuts, scrapes, and burns. Interaction with guests can be difficult. Employees should be trained in dealing with rowdy guests. Animals owned by guests can bite, scratch, or kick workers.
Property exposures are due to the high combustibility of contents and the multiple sources of ignition. Electrical wiring, plumbing, cooling, heating, and laundering systems must be adequate and meet current code. Hard-wired smoke detectors should be installed in all guest rooms and common areas. Cooking equipment must meet all NFPA requirements.
Flammables should be stored properly. If there is a pool, chemicals used to treat it should be stored separately. Business Interruption exposure can be substantial due to lack of backup facilities and the seasonality of some motel operations.
Equipment breakdown exposures include breakdown losses to the heating and air conditioning systems, cooking equipment, laundry equipment, hot water systems, electrical control panels, and other apparatus. Breakdown and loss of use could result in a significant loss, both direct and under time element, if replacement parts are unavailable or repair time is lengthy.
Crime exposure includes employee dishonesty and money and securities. References and background checks should be conducted on all employees. Cashiers' drawers should be kept stripped with regular deposits made throughout the day. A minimal amount of cash should be kept overnight. Monetary transactions must be monitored and audited on a regular basis to prevent employee theft.
Money-handling responsibilities should be separated, with no employee handling both receivables and disbursements. Guest property coverage is important to protect guests' property from theft by employees, other guests, or trespassers. Coverage is provided for each room and for items in lock deposit box. Controls should be in place to verify guest identity before permitting access to lock boxes.
Inland marine exposure comes from accounts receivable if the motel bills for services, computers, and valuable papers and records for contracts, guests' and suppliers' information. Duplicates must be made and stored off site for easy restoration. There may be commercial articles floater for cameras, audiovisual equipment, and musical instruments, contractors' equipment for exterior maintenance, or a special floater for items used off site.
Business auto exposure is generally limited to hired and non-owned liability for employees running errands. If there are owned vehicles, such as those used for servicing the property, any driver should have an appropriate driver's license and an acceptable MVR.
Vehicles must be maintained and records kept in a central location. Some motels may contract with a service to transport clients to and from their premises. If so, it is important to determine the contractual relationship between the motel and the transportation service.
Ohio Economic Data, Regulations & Commercial Insurance Minimum Requirements
If you're an entrepreneur, you know how important it is to research the location where you plan on setting up shop. No matter how how-quality and valuable the products and/or services your business offers may be, if you're situated in an area that isn't suitable for your operation (the wrong target demographic, a poor market, etc.), you just aren't going to achieve the success that you're hoping for.
If you're considering Ohio for your headquarters or for a new branch of your business, you definitely want to take the time to research the area before you set up shop. Below, we'll take a look at the economic trends of the Buckeye State, including employment rates and key industries that are thriving in the area. We'll also highlight some of the key forms of commercial insurance business owners need to carry when operating in Ohio.
Economic Trends for Business Owners In Ohio
The Buckeye State has seen a marked increase in job growth, which is indicated by the record low unemployment rate. According to the Ohio Department of Job and Family Services, as of April, 2021, the rate of unemployment was 4.3 percent; the lowest it's been in more than 18 years. In April the previous year, the rate was 4.6 percent, a difference of .03 percent in 1 year; however, and more notably, the rate has dropped .01 percent in just one month, as it was 4.4 percent in March, 2021. July, 2001 was the last time Ohio saw such a low level of unemployment, when the rate was 4.2 percent.
In January, 2010, the rate was an astounding 11.1 percent, so it's safe to say that there has been a definite decrease in the number of jobless people in the Buckeye State, which is a strong indication of the overall economy of the state.
The greater Cincinnati area is one of the best places for businesses in Ohio, where smaller cities are seeing the largest growth. Examples include Blue Ash, Beachwood, Independence, Sharonville, and Springdale. Industries that are thriving in Ohio include:
- Advanced Energy and Environmental Technologies
- Aerospace and Aviation
- Information Technology
- Logistics and Distribution
- Oil and Gas
Business Insurance Regulations In OH
The Ohio Department of Insurance regulates insurance in Ohio. Certain policies are mandated in Ohio, meaning business owners must carry specific types of coverage. Business owners can protect themselves, the customers they serve, the vendors they work with, and their workers from various risks by investing in the right type of insurance coverage. Coverages that are required include:
Workers Compensation - Most Ohio businesses with employees are required to pay for workers comp. If your OH business has just one employee, you're probably required to carry workers' compensation insurance. In Ohio, workers' compensation insurance is provided through the state - rather than through private insurance companies.
Other forms of insurance that business owners may be required by contract or municipality. The amount of coverage business owners need to carry for each policy vary and depend on a variety of factors, including the size of the operation, the number of employees, and the nature of operations.
Additional Resources For Lodging Places Insurance
Find out what types of business insurance that hotels, motels and other lodging places should have to protect their varied operations.
All lodging places provide sleeping accommodations for their patrons. Dining facilities are common because those who sleep will want to eat.
Many facilities also provide extra features such as offering recreational and exercise facilities or possibly meeting rooms and convention arrangements. Property coverage is needed because of high building and business personal property values at risk that are subject to a number of potential causes of loss, chief of which is fire.
Liability insurance is absolutely necessary because of the number of guests and the potential for losses ranging from slips and falls to food consumption to loss of life in the event of a disaster.
Other liability concerns are the additional guest services such as swimming pools, exercise rooms, recreational activities, and bars. Crime losses involving the theft of guest property, inventory and supplies must also be considered.
Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income and Extra Expense, Equipment Breakdown, Accounts Receivable, Computers, Valuable Papers and Records, Employee Dishonesty, Guests Property, Money and Securities, General Liability, Employee Benefits, Liquor Liability, Umbrella, Business Auto Liability and Physical Damage, Hired and Non-Owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Earthquake, Flood, Spoilage, Bailees Customers, Commercial Articles Floater, Contractors Equipment, Fine Arts, Signs, Special Floater, Computer Fraud, Forgery, Cyber Liability, Employment-related Practices, Garagekeepers And Stop Gap Liability.
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