Guest House Insurance
We are able to provide Guest House Insurance from one of the United Kingdoms property insurance specialists, the policy has been designed with the benefit of extensive experience within the industry. The premiums can be paid by monthly interest free direct debits, great for helping with your business budgeting. For full details of the cover, we are happy to provide a copy of the key facts leaflet and policy document.
The traditional British Guest House, is part and parcel of the UK tourist industry, with many located in popular tourist resorts. If you are the owner or operator of a guest house then insurance will be an important consideration for you. A guest house is usually defined as a business proving accommodation for more than six paying guests. There is very fine line that separates a guest house from a bed an breakfast business and they have very similar bb insurance needs. Guest houses do tend to offer a wider range of services over bed & breakfasts, in the main evening meals are provided.
Although most guest houses are operated from property that was originally designed as private dwelling accommodation, it is very difficult to obtain buildings insurance for a guest house on a residential policy wording.Almost all insurance providers do not wish to insurance properties that are used for any form of business purposes on a home policy wording. Most Guest houses are run as commercial ventures and thus a commercial cover is required. This should help ensure that the correct firm of covers is supplied as well as essential liability insurance cover.
Guest House Insurance Rating
The rating for buildings insurance though will follow closely the parameters used for property used for non commercial purposes, of course though premiums are likely to be higher to take in to account the business usage of the property. In order to provide you with a guest house insurance quotation, the insurers will require to know the construction of the property, it’s approximate age and of course it’s full address and postcode and the number of letting bedrooms. In almost all cases, you will have to supply details of your rebuilding cost and this can be tricky without professional help, as most guides to rebuilding costs do not take in to consideration the alterations to the premises to make it suitable for use as a guesthouse. The policy that we supply via Quote-desk has an automatic rebuilding sum insured of £1,000,000 and this can help overcome the issue of rebuilding costs although it is prudent to have an accurate idea of what your rebuilding cost actually is.
The policy we supply is written on a package basis, so to the buildings cover, you can add a number of other sections as well. The Guest House contents can be covered including business equipment and stock and cover can also be extended to include the owners contents and if requited items that may take away from the home. ( Such as jewellery etc). You are free to choose your sum insured for this section of the policy and in order to obtain a quotation we will need to know your sums insured. Policies are written on a new for old basis and you should insure for the full replacement cost of your contents.
The policy also includes Public Liability Insurance up to £5,000,000 and Employers Liability up to £10,000,000. Business Interruption cover is included with a sum insured of £25,000. Please contact our office if you require to see specimen policy documents and a Key facts leaflet, we are pleased to report that this guest house insurance policy is available for purchase on an interest free direct debit basis.