5 Types of Insurance Coverage Every Resort Needs
As a member of the hospitality industry, your insurance requirements are complex. Whether you run a boutique resort, timeshare community, guest ranch, or destination spa, it’s important to evaluate potential exposures and tailor an insurance plan to protect your property, assets, team members, and reputation.
Risk management plans for resorts vary widely in their features, but there are several types of insurance that resort owners and operators can’t afford to be without. They include:
Commercial Auto Insurance
Chances are your resort relies on company vehicles to deliver supplies, shuttle guests, or maintain landscaping. Whether you own a few company cars or a large-scale fleet, commercial auto policies offer protection for employees, guests, and vehicle investments. Depending on your needs, commercial auto plans cover trucks, cars, flatbeds, vans, pickups, and more. Policies may include collision coverage, liability insurance, medical payments, and rental reimbursement.
General Liability Insurance
Regardless of how careful you strive to be, claims can arise when guests trip and fall on your premises, find fault with your service offerings, or injure themselves during resort-sponsored activities. Best-in-class insurance policies include comprehensive liability coverage that guards against property damage or bodily injury claims. Specialized policies may be necessary when you offer high-risk activities like water sports, horseback riding, ATV rentals, ropes courses, or paintball courses, and a qualified insurance professional will recommend the best insurance coverage for your resort’s features.
Workers’ Compensation Insurance
Your employees are the heart of your resort—and a main reason for your success. John Bailey Company partners with underwriting carriers that understand the workers’ compensation needs of your large or boutique hospitality business. Together, we can return injured employees to full health and productivity while minimizing future injury risks and maintaining workplace morale.
Errors & Omissions (Professional Liability) Insurance
Errors & Omissions policies serve as a safeguard against negligence and other events that fall outside your general liability policy. Depending on your unique property needs, E&O policies may also include protection against breach of contract, libel, or slander, as well as service errors and real estate transaction discrepancies. If your resort includes massage and spa services an Errors & Omissions insurance policy must be purchased to cover the professional liability associated with those activities. Don’t be without an E&O policy to round out your risk management coverage.
If you serve or sell liquor on your premises, a liquor liability policy reduces the chance of loss related to this portion of your business. While you should always teach employees to adhere to safe serving and designated driver policies, liquor liability insurance further protects your resort and staff from damages caused by bar fights, intoxicated guests, or other alcohol-related claims.
Tennessee’s #1 Resort Risk Managers
John Bailey Company’s legacy of service began in 1946 when our independent agency began serving the Knoxville area. Skilled in hospitality risk management, we partner with hotels, destination resorts, recreational outfitters, and timeshare condominiums to provide competitive insurance options tailored to your property’s needs.
To learn more about our competitive benefits or request an insurance estimate for your resort, call 865.524.0785 or submit a confidential inquiry and our TN insurance professionals will be in touch shortly.