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NEWS UPDATE FOR LIMITED SERVICE HOTEL OWNERS…
Explosion Rips Through Hotel…
Insurance Loophole Leaves Owner
Weeping For Loss, Picking Up the Pieces
Agent’s “Stupid Little Mistake” Ruins Hotel Owner
When a gas main broke in the basement of Chuck’s brand-new hotel, more than just half the building exploded. So did his out-of-pocket expenses. Right through the roof!
The powerful blast ripped through the lower levels of the building, leaving the floors looking as if an earthquake had hit. Open for just five months, the hotel had to be shut down completely for repairs.
Fortunately, Chuck had taken his insurance agent’s advice to secure business interruption coverage. So his revenue was uninterrupted while he quickly set about securing repairs.
But one area he had overlooked – and his agent had glossed over – was that the property itself was covered only from the slab up. Everything below ground – the foundation, the water and gas mains, the sewer lines – weren’t covered. So Chuck had to fork tens of thousands of his personal savings to restore these critical services.
Are you sure everything about your property is covered? Don’t take chances. Click here to request a FREE INSURANCE AUDIT to spot and correct dangerous flaws in your insurance coverage. Or just click here to get your Hotel QuickQuote!
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The 7 Deadly Sins of Hotel Insurance
