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  1. Nika

    Insurance Companies

    Hey everyone! I just wanted to post an update to this thread. I ended up getting reinsured with the company below. The folks at CBIZ found them for me when they could no longer provide coverage to us. Surprisingly, I saved a significant amount with the switch. My premium ended up being...
  2. Nika

    Bed and Breakfast Insurance

    It was difficult for me to find the right company but INNspiring came to my rescue. We eventually had luck with the two companies below. I would engage both to see if they service your area. Mr. McCormick also has a relationship with Philadelphia Insurance. Best of luck! Curtis...
  3. Nika

    Remote check-in / PPE Equipment

    Hello everyone! What a crazy hard year it's been. We officially closed Moreland Guesthouse for COVID 19 last April and have only taken a limited number of guests since then. We are looking to reopen fully in the summer thanks to a PPE-related equipment grant. I was wondering if anyone has...
  4. Nika

    Do I want to Innkeep again

    Here's an article for you to consider: http://work.chron.com/innkeeper-salary-8995.html I believe $30,000 a year or $15 an hour @ 40 hours a week PLUS housing is absolute rock bottom. Innkeeping is a lot of work even for just three rooms. You have to keep in mind you'll be doing everything...
  5. Nika

    Inn valuation

    Is it typically 5X the revenue for the previous year or an average of several years? Are all furnishings and vehicles included in that price? We're not interested in selling but it's good information to know.
  6. Nika

    Long Term Rental

    Yes, this is a great idea! I would want to wait until she checks out to do some of the projects listed above. You can tell your guest that you are preparing for the upcoming season and must go through the room to take an inventory of maintenance issues/projects you'll need to schedule. I...
  7. Nika

    Long Term Rental

    Peace of mind is important. If you're really concerned about damages and don't want to wait until check-out to inspect the room, I'm sure your attorney and/or insurance carrier would support a policy change. Effective immediately, you must conduct routine inspections in order to protect your...
  8. Nika

    Insurance Companies

    The company we were going with has an issue with our extended stay guests. The carrier wants us to put something in writing that says we'll only host guests for a few days or a week. We get a lot of business from folks that are relocating to the area for employment or school or are in our area...
  9. Nika

    Insurance Companies

    Our property is brick too, Jcam. Insurance is big business here in the States and New York State can be cost prohibitive for anyone to do business in.
  10. Nika

    Insurance Companies

    Our property values are much less here in Buffalo, NY, Momma Smurf. My liability limits are about half of what you've listed and there is no mention of coverage for my personal space/contents, only business. I am taking the advice of Samster and Morticia and looking into an umbrella policy for...
  11. Nika

    Insurance Companies

    We are experiencing similar issues. I'm going to take the lowest bid (which seem astronomical) for now to avoid any gaps. Hopefully, I can find a better rate and better coverage soon.
  12. Nika

    Insurance Companies

    Thanks for the advise. I'll make sure our personal space in the inn is covered as well. I'm looking forward to hearing back from Wolf.
  13. Nika

    Insurance Companies

    A good friend of mine recommended that I get a journal to write down stories of the many interesting people we would find ourselves hosting. 6 years later, "pick up a journal" is still on my never ending list of things to do. It is my goal to contribute to the message board moving forward...
  14. Nika

    Insurance Companies

    Thanks, ChrisandShelley! I have a call into them.
  15. Nika

    Insurance Companies

    . Agreed, thanks for your feedback.
  16. Nika

    Insurance Companies

    Thanks for sharing. Agreed, it is impossible to compare. It does ease my mind to know others are paying as much so I appreciate that . Thanks, again.
  17. Nika

    Insurance Companies

    Coverage for Sole Proprietors seems to be a lot more affordable and less of a hassle! It seems that not all agents have the software to underwrite for corporations and those that do are not very knowledgeable when it comes to our industry. My broker did reach out to Erie Niagara along with a...
  18. Nika

    Insurance Companies

    Thank you. I will keep Maine Employer's Mutual Insurance Company in mind for Worker's Comp. I appreciate the referral very much.
  19. Nika

    Insurance Companies

    Thank you so much! I did look into your insurance carrier. Regrettably, they do not do business in NYS. The lowest quote I have received is from Allegany Co-Op for $4,286 year. I know premiums varies state to state and base on the amount of coverage but this seems like a lot. I would...
  20. Nika

    Insurance Companies

    Thanks, PhineasSwann! You're information was helpful. I did put a call into Wolf/CBIZ Specialty Insurance. They said they have experienced a high volume of inquiries for B&B insurance and are backlogged at the moment. It will be a few days before I can speak to anyone. They do appear...
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