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Olga

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When you open a bed and breakfast, is your house insurance increased? If so, what else is increased?
 

egoodell

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You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki
 

Olga

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You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki.
egoodell said:
You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki
Is it a lot more than regular house insurance?
 

egoodell

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You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki.
egoodell said:
You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki
Is it a lot more than regular house insurance?
.
Olga said:
egoodell said:
You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki
Is it a lot more than regular house insurance?
I don't know your situation and am not an insurance broker. I suggest you check wtih Markel - that's who we use. Sounds to me like you need to attend an "Aspiring Innkeepers" class or contact your state B&B Association.
RIki
 

Innkeep

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You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki.
egoodell said:
You cannot use regular home insurance. You have to get insurance for a B&B business. If you use home insurance you'll risk losing your home.
RIki
Is it a lot more than regular house insurance?
.
Yes, it is likely to be more than homeowners insurance. You also need to check with zoning regulations in your town in order to see if opening even a 1 room B&B is allowed. Local health departments will also have rules about what might be required in your kitchen. For instance, I have to have a separate handwashing sink and there are temperature requirements about how hot my dishwasher has to get the water. I also had to get a food handler's certification.
 

EmptyNest

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I think you need to take an aspring innkeeper class and get some facts. Most home insurances will not cover B & B's you will need commercial insurance. And it alll depends on who you get insurance with. The questions you are asking here lately seems to me you need to be reading at least a book on innkeeping or looking through and reading some of the past posts via search.
 

Olga

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I think you need to take an aspring innkeeper class and get some facts. Most home insurances will not cover B & B's you will need commercial insurance. And it alll depends on who you get insurance with. The questions you are asking here lately seems to me you need to be reading at least a book on innkeeping or looking through and reading some of the past posts via search..
catlady said:
I think you need to take an aspring innkeeper class and get some facts. Most home insurances will not cover B & B's you will need commercial insurance. And it alll depends on who you get insurance with. The questions you are asking here lately seems to me you need to be reading at least a book on innkeeping or looking through and reading some of the past posts via search.
Just thought I'd ask some basic questions while I'm trying to decide on what direction I should go.
Thanks
 

Highlands John

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I think you need to take an aspring innkeeper class and get some facts. Most home insurances will not cover B & B's you will need commercial insurance. And it alll depends on who you get insurance with. The questions you are asking here lately seems to me you need to be reading at least a book on innkeeping or looking through and reading some of the past posts via search..
catlady said:
I think you need to take an aspring innkeeper class and get some facts. Most home insurances will not cover B & B's you will need commercial insurance. And it alll depends on who you get insurance with. The questions you are asking here lately seems to me you need to be reading at least a book on innkeeping or looking through and reading some of the past posts via search.
Just thought I'd ask some basic questions while I'm trying to decide on what direction I should go.
Thanks
.
I'm in the UK and our B&B insurance is only a little more than home insurance. We have a package that includes building, contents and public liability.
But then in the UK a B&B (six guests or less) still counts as a domestic residence not a commercial property, so may be different where you are.
 

Samster

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You will need business insurance. You can google bed and breakfast insurance and probably find some of the reliable players for the industry.
I'd also suggest taking an aspiring innkeeper's class or a local small business workshop to get more answers specific to your location, or proposed location.
 

YellowSocks

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Yes, you need biz insurance, and yes, it costs more, but it covers a lot more, too.
What you need depends on your location. In my town one or two rooms comes under "home occupation" and is acceptable without a zoning variance or much else for that matter. I still have to charge taxes and all that, though.
=)
Kk.
 

YellowSocks

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Olga said:
When you open a bed and breakfast, is your house insurance increased? If so, what else is increased?
I just re-read your question. My utility bills all increased. I added a biz checking and savings accounts, and started collecting tax, so my paperwork increased. My laundry became a mountain. My cleaning unending.
But I also meet a lot more people... so it all works out.
=)
Kk.
 

Olga

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Yes, you need biz insurance, and yes, it costs more, but it covers a lot more, too.
What you need depends on your location. In my town one or two rooms comes under "home occupation" and is acceptable without a zoning variance or much else for that matter. I still have to charge taxes and all that, though.
=)
Kk..
Thank you so much for your feedback.
 

Proud Texan

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We have insurance for our B&B ($1 million liabilty) AND homeowner's insurance with a blanket policy that covers everything in between. We made ourselves an L.L.C. with the B&B Insurance covering that.
According to our lawyer, if someone were to be injured and sue, they could only sue the L.L.C. and would go after the bigger pockets of the insurance company. In Texas, anyway, this protects your homestead and personal property from being attached to such a lawsuit.
If you are not sure, TALK TO YOUR LAWYER and make sure your hind end is covered.
 
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