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witthuus

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Jan 11, 2020
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Good Morning,
we just returned from the PAII conference in Myrtle Beach. We are aspiring innkeepers and looking for about a year. Could find what we are looking for so far. I have one potential inn in Waynesville, NC which we like very much. This place has a pool and I asked an insurance company for a quote. They came back with $18,000 (!) per year. Does this sound right to you ? That would be a deal breaker. May be it is the pool which drives it up that much ?
Thank you for your input - very much appreciated
 
I pay about $7,000/year for insurance on my 5-room inn.
Why not just ask the one who quoted how much of that is because of the pool?
 
That quote could be based on a lot of variables - #rooms, # buildingson the property, location, history of claims, location (yes for a second time), pool, services offered. Also WHAT is covered.
Like Roger Miller, I am no pool, no pets, but I also do not have the employee theft, loss of business, etc.that is in many (probably most) policies. Therefore I do not have a huge - although for what I have it is not cheap. NO insurance is cheap. And to have no INSURANCE is idiotic, ignorant, stupid - choose your own word for it.
 
That quote could be based on a lot of variables - #rooms, # buildingson the property, location, history of claims, location (yes for a second time), pool, services offered. Also WHAT is covered.
Like Roger Miller, I am no pool, no pets, but I also do not have the employee theft, loss of business, etc.that is in many (probably most) policies. Therefore I do not have a huge - although for what I have it is not cheap. NO insurance is cheap. And to have no INSURANCE is idiotic, ignorant, stupid - choose your own word for it..
gillumhouse said:
That quote could be based on a lot of variables - #rooms, # buildingson the property, location, history of claims, location (yes for a second time), pool, services offered. Also WHAT is covered.
Like Roger Miller, I am no pool, no pets, but I also do not have the employee theft, loss of business, etc.that is in many (probably most) policies. Therefore I do not have a huge - although for what I have it is not cheap. NO insurance is cheap. And to have no INSURANCE is idiotic, ignorant, stupid - choose your own word for it.
Oh yes - no insurance would be a NO NO - you are right.
 
Insurance has many components to it. You can not expect to compare apples to apples with other places around as factors of location, size, type of services provided, age of the building among other factors.

INSURANCE is NOT CHEAP!!!

Have you asked the current owner / realtor what they are paying?
 
Insurance has many components to it. You can not expect to compare apples to apples with other places around as factors of location, size, type of services provided, age of the building among other factors.

INSURANCE is NOT CHEAP!!!

Have you asked the current owner / realtor what they are paying?.
Copperhead said:
Insurance has many components to it. You can not expect to compare apples to apples with other places around as factors of location, size, type of services provided, age of the building among other factors.

INSURANCE is NOT CHEAP!!!

Have you asked the current owner / realtor what they are paying?
it is not a B&B yet - so comparing home owner insurance with commercial insurance won't help
 
Insurance has many components to it. You can not expect to compare apples to apples with other places around as factors of location, size, type of services provided, age of the building among other factors.

INSURANCE is NOT CHEAP!!!

Have you asked the current owner / realtor what they are paying?.
Copperhead said:
Insurance has many components to it. You can not expect to compare apples to apples with other places around as factors of location, size, type of services provided, age of the building among other factors.

INSURANCE is NOT CHEAP!!!

Have you asked the current owner / realtor what they are paying?
it is not a B&B yet - so comparing home owner insurance with commercial insurance won't help
.
Talk to Erie Insurance
 
Welcome witthuus to the forum.
I'm a cheapskate and that amount sounds very high to me, but as others have said we don't know the history of claims, what coverages were quoted or the values being insured. I tend to think of fire and liability, but then we add flood, umbrella, personal items, it does add up quickly.
 
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