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Does Your Hospitality Insurance Policy Cover Enough?

Of all the industries affected by the COVID-19 pandemic, the hospitality industry took the worst hit by far. According to The American Hotel and Lodging Association, more than ten years of job growth were eliminated in the shutdowns and cancellations.

While the sector rebounds from the loss, it’s more important than ever to ensure your hospitality policy has every coverage it needs to sustain a loss sufficiently.

Here are three potential coverages to speak with your agent about adding or extending.

Coverages You May Be Missing

      • Extended Business Income Coverage: When a property experiences physical damage, it can potentially prevent the business from operating—declining, or halting revenue. Business Income coverage may protect against financial losses sustained while the company is unable to operate. Extended Business Income coverage can provide protection against a loss of business income that continues after operations have been resumed and the restoration period has ended. This can also include covering everyday operating expenses such as payroll.
      • Business Crime Insurance: This line of coverage is designed to protect businesses from theft and fraud. Because it helps bridge some critical gaps between what commercial property insurance will and won’t cover, it’s most often associated with employee theft. Business Crime Insurance can be written to cover incidents of theft or fraud whether the source is internal (an employee), external (a random thief or cybercriminal), or a combination of both. Depending on the type of business you own, this may already be offered as part of your overall package. Ask your agent to outline the different options.
      • Cyber Liability Insurance:A cyber attack can cost a business thousands of dollars in damages. Cyber liability coverage can include protecting your business from a lawsuit brought on by a data breach, coverage for proceedings related to state disclosure laws, ransom coverages, and more. You can read more information about Cyber Liability and if it’s right for your business on our blog.


    No policy is one size fits all, and we at Barnard Donegan Insurance are committed to serving your business’ unique needs. Call today for a free consultation that could protect the future of your company.