Hello guys and gals,
I am getting closer to having a hostel! I was wondering about insurances, as my investors asked me should we have an insurance for the passengers. I will widen the question, what kind of insurances should i consider? The owners of the property already have a fire insurance.
Thanks!
Ari
14 years
Hi Ari,
Well done on getting the hostel. You need to make sure the owner of the hostel has the correct insurance for the building, check this, don't just take his word for it. You will also need contents insurance for your items in the hostel and a liability insurance in case there are accidents that affect your guests.
Best of luck.
14 years
Anybody know anything abut insuring a small (20 bed) hostel in the United States?
14 years
It took a little bit of time to find insurance for the 12-bed hostel I opened in Missoula last year, mostly because many U.S. insurers don't know what a hostel is, and also because they're cautious about insuring any new business.
I would ask around and find a good insurance agent -- they'll be able to get quotes from many different underwriters, and then price them out against each other. It ended up working out okay for me.
Also, keep in mind that any potential insurer is going to want to know every little detail about the business. The company that ended up insuring me read every page of my web site, which is the reason that I am not allowed to rent bikes or tubes for river floating. They nixed both those ideas.
7 years
Very interesting Dloos50! What company are you with?? anyone who services the Mid West? Any chance you have 50-100 beds and could send me a sample of your insurance expenses?
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