Getting a referral is the best compliment we could ask for, and it always feels great to know that our hard work has paid off. After all, referrals are the lifeblood of any business, and they’re how we continue to grow and thrive.
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Knoxville, TN Office
Fax: 888-840-6351
Email: admin@aceinsuranceconsultants.com
| Monday | 8:30 AM - 5:00 PM |
| Tuesday | 8:30 AM - 5:00 PM |
| Wednesday | 8:30 AM - 5:00 PM |
| Thursday | 8:30 AM - 5:00 PM |
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Got Questions?
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Everything you need to know before working with us, no jargon, no fine print.
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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.
Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.
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.
Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.
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.
Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.
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.
Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.
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.
Have a question about your own property? Contact Ace Insurance Consultants for a free coverage review.
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.
When you apply for an insurance policy, you’ll be asked a number of questions. Among other things, the agent might ask you your name, age, gender, and address. You’ll also be asked a number of other questions which will be used to determine how likely you are to make a claim.
When an insurance company is deciding whether or not to offer automobile insurance to a potential customer, they will want to know about the person’s previous driving record, whether they have any recent accidents or tickets, and what type of car is to be insured.
Insurance companies have different programs for different customers. Adults with good driving records will generally pay less for auto insurance than a young driver with traffic tickets will. In order to determine which program you qualify for, an insurance company needs basic information about you.
In addition to your age, gender, and driving experience, they will also need information about the vehicle you drive and how you drive it to determine a fair price. For example, a large luxury car costs more to repair or replace than a sub-compact, and someone who commutes 30 miles each way is more likely to be in an accident than someone who rides the bus to work and drives only on weekends.
By using an agent to purchase insurance, the policy holder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and absolutely necessary when filing a claim. A local independent agent is able to deliver quality insurance with competitive pricing and local, personalized service.
It’s recommended to review your BOP annually or whenever there are significant changes in your business, such as expansion, new services, or changes in ownership. Regular reviews ensure that your coverage remains adequate and up to date with your business needs.
When selecting a BOP provider, consider factors such as the provider’s reputation, customer service, claims handling process, and the flexibility of coverage options. It’s important to choose a provider that understands your industry and can offer the support you need.
Yes, a BOP is highly customizable. You can add endorsements or additional coverages to address specific risks unique to your business, ensuring that you have comprehensive protection tailored to your needs.
The cost of a BOP varies depending on factors such as the size of your business, industry, location, and coverage limits. It’s best to get quotes from multiple providers to find the most affordable option for your specific needs.
A BOP typically does not cover professional liability, workers’ compensation, health and disability insurance, or commercial auto insurance. For instance, if your business involves providing professional services, you would need separate professional liability insurance to cover errors or omissions in your work.
