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The have to haves of Insurance for a Bed and Breakfast or Guesthouse
There is no doubt that as the B&B and guesthouse industry grows in South Africa so too do more and more owners rely on the establishment as a primary or sole source of income or a supplement to an inadequate pension.
So what then does this mean if any number of losses specific to this industry were to happen and how would this affect the owner of the establishment? The answer to this is simple. The owner would hurt!
Many owners of such establishments fail to understand the implication of incorrect insurance on their B&B until after something has happened and then the question is asked of insurers “What do you mean my loss of revenue following the rape attempt at my B&B isn’t covered? I have a commercial policy” or even worse “What do you mean my personal policy doesn’t cover this liability claim for R8m against me?”
Whilst this may not have happened there are certainly many more incidents and examples which have, so what then is the answer?
That too is simple. Insure on a specialist policy specifically designed for the B&B or guesthouse industry. A policy that understands the risks and caters specifically for them, “The Have to Haves of Insurance”
Click here to read more about “The Have to Haves of Insurance of B&B or Guest House Insurance”
Credit: Dave Jack - MD of BnB Sure
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