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NEWS UPDATE FOR LIMITED SERVICE HOTEL OWNERS…
Tornado Flattens Hotel … Skimpy Insurance Coverage
Costs Owner Life Savings
Hotel Owner Cries, “If only I knew...”
Begs for mercy from insurance company
And told “too bad for you!”
When an F3 twister destroyed Deepak’s Oklahoma hotel, he was devastated to see his life’s dream reduced to a pile of broken brick and shattered glass. The news from the insurance company was an even bigger blow: his policy covered only a fraction of the entire rebuilding cost.
A few months earlier, Deepak chose to insure the building for actual value only. He figured the chances of needing to rebuild his hotel were slim, so it would be a smart way to save a few thousand dollars each year on premiums.
Then the tornado struck, and Deepak learned the horrifying truth: rebuilding would cost at least $50,000 more than the policy paid. He paid the additional costs out of pocket … and completely drained his life savings.
The good news: You don’t have to risk your financial future. Insuring for replacement value is the only smart way to go. But the most important lesson is this: don’t get insurance from anyone but a Hotel Insurance Specialist! Click here to get a QUICK QUOTE for a replacement policy.
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The 7 Deadly Sins of Hotel Insurance
