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B&B Business Insurance

September 25, 2006

by Kit Cassingham

The B&B business has insurance needs similar to home insurance, and to other types of businesses. But those similarities aren't enough to make just any insurance work sufficiently well for the B&B. Bed and breakfast business insurance is a must for the B&B innkeeper.
There are some obvious business insurance coverages that you should buy to cover your bed and breakfast, but there several points that get missed and shouldn't. Your small business insurance policy should include:
  • property insurance, for both the real estate and the contents owned by the B&B
  • business liability insurance for the B&B and automobiles
  • theft insurance
  • property damage insurance
  • fire protection insurance
And don't forget to alsos get loss of income, or business interrpution, insurance, one item that's overlooked too often.

Policies you might consider, depending on your location:

  • flood insurance
  • wind or hurricane insurance

Additional coverages that you should at least consider include:

  • key man insurance
  • computer insurance, to cover your computer and its data
  • workers compensation

I recently stayed at a Florida bed and breakfast that had suffered damage in the 2005 hurricane season. Their insurance covered the repairs with no questions. But, the innkeeper didn't have loss of income insurance, so the three months they were closed for repairs, they really lost income. That hurts any business plan!

Small business insurance coverages do vary from business to business, making an arguement for using a B&B insurance agent because they know the bed and breakfast industry, making sure you are covered adequately.

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