Insurance for hostels is always important. Fires are a particularly important issue in any business operation that involves so many people. Just because one has insurance does not mean that one wants to make a claim because the building burnt down. The more safety precautions you have will reduce the risk of fire, and they will also help you to reduce the cost of a number of your insurances. Here is a look at fire risk, reducing risk and the insurance issues related.
- Property and Contents. Property and contents insurance is highly related to the risk of fire with a hotel. Fire and water damage are the main issues that can damage a hotel’s buildings and your contents. You can greatly reduce these insurance costs by taking preventative measures. You will also need loss of income insurance which will cover your business income if you do have a fire and you cannot operate. Self employed people can consider income protection insurance for themselves as their business in this situation too. Most hotel insurance packages will contain loss of income insurance, but this is different to your personal protection. Personal coverage is for something that happens to you outside of your work and business, and this is something else you should consider. Back to the issue of fires. By reducing the risk, we reduce premiums. Here is a look at some of the things you can do.
- Kitchen. The kitchen is probably the most dangerous area of your hotel or hostel. It is important you create rules for the safe use of your kitchen, and you must also make sure your equipment is of the safest standards. Be aware that with rented holiday apartments people tend not to be as careful as they wold be at home.
- Furnishings and Interiors. All materials where possible should be fire resistant. If something is not fire resistant, you should have those items treated with fire retardants. A small fire can consume a building very fast if curtains and other materials are not fire resistant. This should be a major concern when you are purchasing materials and furniture during your interior design phase. You can use fire resistant paints during your interior makeover.
- Buildings. There are a number of ways you can protect your building. Keeping the building free of debris, keeping trees away from your buildings and regularly inspecting electricity cables, gas pipes and managing your building like it is a dynamic entity. Your building is the core of your business, and it should not be seen as something that does not need constant inspection, care and maintenance.
- Safety Equipment. There are rules for safety equipment, but that does not mean that should be your limit. Many operators get lazy when it comes to fire safety equipment because they see it as a legal requirement. It is important to take a pro-active approach and look at what you need in case of a fire, and not just what is legally required of you.
Prevention is better than cure. Insurance premiums are paid not so we can claim if we have to, they are paid for peace of mind. Lower your premiums by lowering your risk.