14 years
how much would insurance be for a 20 - 30 bed hostel?
is it really that hard to get insurance?
Hostel Insurance
Start a Hostel
Hi, I am attempting to start up a Backpackers Hostel in Hamilton, Ontario Canada and have been travelling through many hurdles. I am looking to convert an old storefront building into a moderate sized backpackers/short term stay accommodations. The biggest issue I am having is that of finding anyone to insure it. If anyone has any advice please post. Thanks.
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14 years
You wouldn't think it would be that hard, but it is. I think they have a bad stigma about a private run hostel would be somekind of drunken frat house or something. Yet, they insure bars all the time and you would think that would be a bigger risk.
14 years
Check with the Ontario Restaurant Hotel and Motel Association or check http://www.hedinc.com which is the insurance provider for members of a number of the hotel associations across Canada.
14 years
Same problem here. We're in Nova Scotia, Canada and also had a hard time finding an insurance company that would insure us. One company that was willing was Dominion of Canada. Maybe try to tell insurance companies that you're 'very similar to a B&B'. Our business name "Digby Backpackers INN" actually helped us get insurance since it gave us the space to explain what we were before the dreaded "hostel" came up in the conversation ;-)
14 years
Just a general bit of advice as I am not familiar with laws in Canada:
Use an insurance broker to find insurance for you. Let them do the work. They usually get a cut of the premium based on what they negotiate with the insurance company.
Be sure to shop around different insurance brokers too!
Cheers
Jon
14 years
Well, in our case: I am now contacting insurance brokers all the way in Halifax, as none within one hour's distance can insure a 'hostel', unless you get commercial insurance at a high rate (B&B's get the offer of a much cheaper 'home based business endorsement'). There is a major issue here. Right now I am simply discouraged to the point that I just want to shut the doors and close up. (Not that I'm going to, but that's how I feel by now).
14 years
I think someone mentioned earlier of calling the hostel a boutique hotel and getting around the laws that way.
If the majority of your rooms are private I think you can get away with it, even if the bathrooms are shared. I know lots of hotels have shared bathrooms including those in New York City and Paris and Melbourne
14 years
Found this information on a B and B insurance.
Ryan Lindsay and Shona Meloche
131 Ontario Street
P. O. Box 487
St. Catharines, ON L2R6W2
1-866-717-7889
14 years
I called the Co-operators and after filling out a couple of huge questionaires they quickly came back to me with what I think is a fairly decent quote, just waiting to hear from a couple of other cross-quotes
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