{"id":7052,"date":"2022-10-27T07:54:16","date_gmt":"2022-10-26T20:54:16","guid":{"rendered":"https:\/\/www.quantaco.co\/?p=7052"},"modified":"2022-10-27T07:54:16","modified_gmt":"2022-10-26T20:54:16","slug":"insurance-for-hospitality-businesses","status":"publish","type":"post","link":"https:\/\/www.quantaco.co\/news-posts\/insurance-for-hospitality-businesses\/","title":{"rendered":"Insurance for Hospitality Businesses: Are You Fully Insured?"},"content":{"rendered":"\n
When was the last time you increased your declared value on your hospitality insurance? The reality is people are often left underinsured for a number of reasons (and some don\u2019t realise it). Whether it\u2019s trying to reduce the cost of the annual premium which has actually left you more exposed to risk, or simply not updating the change in circumstances.<\/p>\n\n\n\n
In this post we\u2019re looking at insurance for hospitality businesses and why the ramifications of underinsurance can be costly\u2026<\/p>\n\n\n\n
Simply put, underinsurance is when; at the time of an event or loss, the insured amount is only 90% or less than the actual cost required to replace or reinstate the property. Meaning, you haven\u2019t insured yourself fully.<\/p>\n\n\n\n
For hospitality businesses in particular this is an ongoing challenge to make sure you\u2019re completely protected. Here are some of the questions you should be asking to make sure you\u2019re not underinsured:<\/p>\n\n\n\n