Liability Insurance: Important Insurance for a Guest House

Nov. 23, 2013 - PRLog -- According to Texas Outdoor Insurance, liability lawsuits can run into the hundreds of thousands of dollars in claim judgements, legal costs, and court fees. Without a liability insurance policy in place, companies will most often have little recourse to pay for extensive and costly damages judgements, should they be awarded by the court.

For guest houses, the risks of inadequate liability insurance are especially clear.

“You could be held liable should a guest, third party, or member of the public become injured on your property; even if the injury wasn’t directly your fault,” Texas Outdoor Insurance explains, noting the risks that guest house owners face. “Liability insurance covers you against legal fees and liability claims brought against you.”

But lawsuits aren’t just brought on by customers, guest houses who employ people are also at risk for employment related lawsuits.

According to the U.S. Equal Employment Opportunity Commission (EEOC) the average discrimination lawsuit now exceeds $235,000. Employment practice liability claims include discrimination, harassment, and retaliation.

Statistically, a company with 100 employees can expect to be faced with an employment practices related lawsuit once every three years. This number points to the increasingly important need for companies -guest houses and resorts included- to purchase liability insurance as an important protection for the future.

While most guest house owners realize the importance of insurance, some may not realize that one policy might not provide enough coverage for their needs. Experts recommend taking out a comprehensive policy, to ensure coverage in case of the unexpected.

“Every guest house insurance policy is different, and it is important that you find one that is tailored to your specific needs,” states Texas Outdoor Insurance. “Since policies vary considerably, it is important to review your policy with your insurer, to make sure you are covered.”

Texas Outdoor Insurance provides comprehensive guest house insurance coverage for guest houses, resorts, and hunting lodges in Texas. For more information on guest house insurance visit www.texasoutdoorinsurance.com.

http://www.texasoutdoorinsurance.com/articles/important-reasons-for-guest-house-insurance.html

http://www.forbes.com/sites/evangelinegomez/2011/10/03/the-top-5-steps-small-businesses-should-take-to-minimize-their-risk-of-an-employee-lawsuit/