Insurance for our B&B

18 replies [Last post]
Offline
Joined:
04/02/2010

Dear Friends,

We are trying to find reasonable insurance to cover our dwelling, its contents, and the operation of the B&B.  We would appreciate any info you can provide.  We have been in operation for 4 years, have never had a claim but our rate jumped $500 for the next year.

Thanks,

Lou Jobin

Higgins House Sanford Fl

407-324-9238

 

 

 

__________________

Lou Jobin

 

Bigbid's picture
Offline
Joined:
02/22/2010

I just paid mine today.  $1817.00 a year for an 8000 sq ft, 12 room Inn.  American Hallmark Insurance Company of Texas.  I am in Utah.

__________________

Bigbid

 

Offline
Joined:
04/02/2010

Thanks for the tip I'll check them out

 

Proud Texan's picture
Offline
Joined:
05/30/2008

We have ours through the " You're in good hands." Insurance company.  it's somewhat convoluted because of our situation, so your experience will vary depending on your coverage.

We have $1M liability coverage for the B&B. That covers anything on our property that a guest could find to get themselves into trouble.  We then have a standard homeowner's policy with total contents replacement.  Then there is an umbrella policy that covers any gray areas between our home and the L.L.C.  We also have policies on our car, utility vehicle and tractor.

I was compelled to get a ministerial rider policy when I started to marry people.  This only allows for up to 6 guests plus the bride and groom.  If we want to do full-blown weddings and not just elopements, that's another $500 per year.

 

 

Offline
Joined:
06/24/2008

PT do you think they did this because you have cottages instead of all under the same roof?  We were told no way several times by our old agent - same company.  He told me they 'don't insure B&B's'.  We had them before we opened so really wanted to stay.  I may contact them again to try, my old agent is retired, went to another for our cars and he retired, now have his son.  DANG I'm getting old!!!

Proud Texan's picture
Offline
Joined:
05/30/2008

copperhead wrote:

PT do you think they did this because you have cottages instead of all under the same roof?  We were told no way several times by our old agent - same company.  He told me they 'don't insure B&B's'.  We had them before we opened so really wanted to stay.  I may contact them again to try, my old agent is retired, went to another for our cars and he retired, now have his son.  DANG I'm getting old!!!

I know several of the policies are underwritten by TAPCO.  I believe they specialize in commercial coverage.

 

Offline
Joined:
06/24/2008

Proud Texan wrote:

copperhead wrote:

PT do you think they did this because you have cottages instead of all under the same roof?  We were told no way several times by our old agent - same company.  He told me they 'don't insure B&B's'.  We had them before we opened so really wanted to stay.  I may contact them again to try, my old agent is retired, went to another for our cars and he retired, now have his son.  DANG I'm getting old!!!

I know several of the policies are underwritten by TAPCO.  I believe they specialize in commercial coverage.

 

So maybe your good hands agent has spread his arms to also handle other companies.  Thanks for pointing me to another source to try, just checked TAPCO and they do write policies in my state. 

Proud Texan's picture
Offline
Joined:
05/30/2008

copperhead wrote:

Proud Texan wrote:

copperhead wrote:

PT do you think they did this because you have cottages instead of all under the same roof?  We were told no way several times by our old agent - same company.  He told me they 'don't insure B&B's'.  We had them before we opened so really wanted to stay.  I may contact them again to try, my old agent is retired, went to another for our cars and he retired, now have his son.  DANG I'm getting old!!!

I know several of the policies are underwritten by TAPCO.  I believe they specialize in commercial coverage.

 

So maybe your good hands agent has spread his arms to also handle other companies.  Thanks for pointing me to another source to try, just checked TAPCO and they do write policies in my state. 

Now keep in mind that you get discounts if you bundle policies, so try to keep all your eggs in one basket.

Kay Nein's picture
Offline
Joined:
02/13/2012

I was recently talking to a P A I I member who said she was extremely happy with the insurance they got through them.  No hoops to jump through, very simple approval process and the money she saved paid for her P A II membership.  

I've never been a member, so don't have a bias for/against it... my disclaimer for those of you who do.

Breakfast Diva's picture
Offline
Joined:
05/26/2009

PAII does not offer insurance. They do have vendors though.

Kay Nein's picture
Offline
Joined:
02/13/2012

I think that's what I meant indecision

Breakfast Diva's picture
Offline
Joined:
05/26/2009

K9 wrote:

I think that's what I meant indecision

But what's the company they chose?

Offline
Joined:
05/22/2008

Here's a link from our state association. http://www.innvirginia.com/vendors.php#insurance

Offline
Joined:
06/24/2008

HH my policy went up $1000 with Western World with no claims. (note this was only the Fire/Theft/Liability portion)  I have looked as well at others but everyone that would give me a quote were even higher and less protection.  I too will look into Innkeeps contact to see what they can do for me.  But so far I am bummed. 

Innkeep's picture
Offline
Joined:
06/04/2008

I have my insurance through this agency at a considerable savings from the prior policy with another agent.  You might check to see if they write policies in FL

Offline
Joined:
04/02/2010

Thanks for the tip they are going to provide a quote

gillumhouse's picture
Offline
Joined:
05/22/2008

Being in Hurricane Alley does not help you. I have insurance with Eire but it is just CYA, not the coverage one gets with JW (or the premiums they charge).

Offline
Joined:
05/22/2008

who do you have now?

Offline
Joined:
04/02/2010

Today we have the Western World Insurance Group

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.