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At least once a year before renewal, and any time you renovate, add amenities like a pool or bar, change your number of rooms, add vehicles, or change your payroll significantly. Building values in particular should be updated regularly so your property limit keeps up with construction costs.

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Yes. Franchise agreements usually require specific coverages and minimum limits, such as general liability, umbrella, liquor liability, and property coverage, and require the franchisor to be named as an additional insured.

Review your franchise agreement with your agent so your program meets every requirement, since gaps can put you in default of the agreement.

Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.

Standard property policies typically exclude mechanical and electrical breakdown. Equipment breakdown coverage pays to repair or replace HVAC systems, boilers, elevators, commercial laundry equipment, kitchen equipment, and electrical systems after a sudden failure, plus the business income you lose while the equipment is down.

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It depends on the policy. Guest injury claims from bed bugs may fall under general liability, but many policies limit or exclude pest-related claims, and the cost of treatment and lost room revenue is often not covered.

A regular professional pest control program, prompt response to guest reports, and good records are your best defense. Ask your agent how your policy treats these claims.

Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.

Many hotels carry at least $1 million per occurrence and $2 million aggregate in general liability, and add a commercial umbrella of $1 million to $10 million or more on top. Lenders, franchisors, and management agreements often require specific minimum limits.

Properties with pools, bars, shuttles, or large events usually need higher limits.

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It’s a good idea for most hotels. With many hourly employees and high turnover, hotels face claims of wrongful termination, discrimination, harassment, and retaliation. Employment practices liability insurance (EPLI) covers defense costs and settlements for many of these claims.

Some EPLI policies can also include coverage for claims brought by guests, known as third-party coverage.

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Make sure the guest gets help and call 911 for serious injuries. Complete an incident report, photograph the area, collect witness information, and save any security camera footage. Be compassionate, but don’t admit fault or promise to pay bills.

Report the incident to your insurance agent and carrier promptly, even if you aren’t sure a claim will be filed.

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Get the employee medical care, document what happened, and report the injury to your workers’ comp carrier right away. In Tennessee, the employer generally provides a panel of physicians for the injured worker to choose from. The carrier pays authorized medical treatment and, if the employee can’t work, temporary disability benefits.

Offering light-duty work within the doctor’s restrictions helps the employee recover and keeps claim costs down.

Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.

Keep detailed maintenance records, invest in fire protection like sprinklers and monitored alarms, keep your roof in good condition, build a written safety program, reduce slip and fall hazards, secure your pool, train staff on responsible alcohol service, require vendors to carry insurance, and consider a higher deductible.

Most importantly, have an independent agent present your property’s improvements to multiple hospitality carriers.

Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.