Hospitality Insurance in Mineola, NY
The hospitality sector can be rewarding and lucrative, but it may also be rife with risks and exposures that could threaten financial stability. Even the most diligent businesses operated by highly skilled professionals may encounter unfortunate situations and incidents that could incur significant losses. With this in mind, restaurants, hotels, event venues, and all other members of this industry must consider adequate insurance as a top priority.
What Is Hospitality Insurance? 
Hospitality insurance is not always available as a named product. While some insurance companies may offer prepackaged hospitality insurance programs that can address many relevant risks and perils, the unique and diverse needs of various businesses may make it necessary to build a coverage portfolio from the ground up.
What Does Hospitality Insurance Cover?
Although the exact contents of an adequate hospitality insurance portfolio may vary, several types of policies may be essential for most sector members. Specifically, many hospitality businesses may want to explore the following options:
- Professional liability insurance
- Commercial property insurance
- General liability insurance
- Business interruption insurance
- Workers’ compensation insurance
- Commercial auto insurance
- Cyber liability insurance
- Employment practices liability insurance
- Commercial umbrella insurance
- Liquor liability insurance
What Does Liquor Liability Insurance Cover?
Liquor liability coverage should be considered an essential part of risk management for any business that serves or sells alcoholic beverages. Many hospitality businesses, such as restaurants, bars, clubs, event venues and hotels, may share this need. The right coverage can help pay for losses arising from intoxicated guests, including bodily injuries and property damage. For example, if an overserved guest gets behind the wheel and causes an accident, liquor liability insurance may help offset losses should a business be deemed responsible.
Learn More
At North American Marketing Specialists Inc, we’ve proudly served the insurance needs of businesses in the Mineola, NY, area since 1997. Contact us today to learn more about hospitality insurance or to get an instant quote.