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While standard insurance policies provide a baseline of coverage, they often come with exclusions and limitations that leave property owners vulnerable. Hotels and other sectors in the lodging industry, such as vacation rentals and bed and breakfasts, can face a variety of risks. These include, but not limited to, mold actions, water damage, breach of contract, subrogation, certain personal injury incidents, fire, and natural disasters.

Many claims resulting from damage to property will most likely not be covered or limited by your primary insurance policy. Lawsuits filed by third parties may be excluded or limited as well.

Having a BOLD Supplemental Defense Insurance Policy will step in where primary insurance companies step out. Legal fees can quickly become enormous, and the process of defending a claim or lawsuit can cause a substantial interruption. Even a successful and lucrative business can become drained and eventually forced to shut down. Supplemental defense insurance will mitigate these costs and provide support throughout the entire legal process.

The importance of supplemental defense insurance for hotels cannot be overstated. The variety of risks faced by these properties necessitate a comprehensive approach to insurance coverage. Having robust insurance coverage is not just advisable, it is essential for long-term success in the hospitality sector.