Guest House Insurance – Get a free quotation

With an estimated 30,000 guest houses running the risk of having the incorrect guest house insurance in place, it is worth getting a free quotation and insurance check to make sure your guest house insurance is adequate.

  • It’s often the case that the  cover you think is adequate, simply is not
  • You may think the cost is prohibitive, but in many cases it is very affordable
  • It may well be that you are paying more than you need to for your current insurance

Incompass would be delighted to discuss your insurance needs and provide you with a free quotation based upon your specific circumstances.

Of course your guesthouse insurance quote is:

  • Free of obligation
  • Costs nothing

And also………..

  • Is free of brokers fees – we are one of the only brokers that do not charge brokers fees meaning lower costs for you
  • Tailored to your specific guesthouse
  • Backed up by one of South Africa’s largest providers of Guesthouse Insurance
  • Researched with all the major insurers of guesthouses in South Africa
  • Supplied by the prefferred suppplier of much of the industries leading authorities – we are recommended by many tourism offices and industry leaders (such as Cape Town Tourism, Franschhoek Tourism and FEDHASA)

And even more ……………….

We are so sure you will be impressed by our service offering and guesthouse insurance quote, that even if you do not engage us as your guesthouse insurance broker we will list you free of charge on our high profile guesthouse directory. Please note proof must be given that the correct insurance has been effected.

CONTACT US HERE FOR YOUR FREE NON OBLIGATORY QUOTATION AND SERVICE OFFERING

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Guest House Insurance Guest Effects

Guest house owners need to be aware of the impact of the loss of guest effects and their liability in the event of guest effects being stolen form their establishment.

Guest Effects is an important part of your guest house insurance. It has been upheld in South African law that should a guest have goods stolen at an establishment, “innkeepers” are responsible in the absence of gross negligence (on the part of the guest) or “vis major” for loss of or damage to goods/movable items received by them without proof that they were negligent in any manner.

GUEST EFFECTS COVER (LIABILITY)

In every case, negligence must be proved against the guesthouse owner and the claim by the guest substantiated.

GUEST EFFECTS COVER (CONTENTS)

Guest effects contents cover provides the uninsured personal effects of a paying guest up to a specified amount. This cover may extend goods contained in the guest’s motor vehicle subject to goods in a motor vehicle being concealed in a locked boot or in a storage compartment forming part of a locked vehicle.

GUEST EFFECTS COVER (NON PAYING GUESTS)

This covers guests who are non-paying guests temporarily residing with the insured if their uninsured household goods and personal effects (excluding money and negotiable instruments) are lost or damaged by a defined event.

Incompass would be delighted to discuss your insurance needs and provide you with a free quotation based upon your specific circumstances.

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Guest House Insurance – the effects of under insurance

UNDER INSURING YOUR GUESTHOUSE

Under insuring your guest house can have severe repercussions on any claim that is made. It is often the case that under insurance is not fully understood and therefore the consequences often not realized until a claim is made.

It is important to understand the mechanics of a claim to really understand under insurance;

When a claim is made an assessor will look at the claim from two perspectives – did the loss really happen and was there a case of underinsurance.

The below will explain some of the different scenarios:

 

Home Contents

For example: if you have insured your contents for R100, 000 and are claiming for the theft of a TV to the amount of R10, 000.

The assessor will look at the value of all your property, and estimate how much insurance you should have in place. In this example, he establishes the sum insured should be for R300, 000 to cover all your belongings. Resulting in underinsurance of some R200,000.

In this case, the insured was only paying for one third of the actual risk, therefore only one third of the claim would be paid – R3, 333.

A loss of nearly R7, 000

 

Building Insurance (In the case of partial loss)

For example: a claim is received for partial damage totaling R500, 000 and the sum insured is R2, 000,000.

In this instance, the assessor works out that a total loss would have amounted to a re-building cost of R3, 000,000. The insured has not covered one third of the true risk.

In this case only two thirds of the repair costs would be paid – R333, 000.

A loss of nearly R170, 000

In the case of a total loss

For example: a claim is received for the total loss of a building for R2, 000,000 and the sum insured is R2, 500,000.

The full sum insured of R2, 000,000 would be paid.

A loss of R500, 000

 

All Risks

A piece of jewelry worth R10, 000 is stolen, but it was specified for a sum insured of R8,000.

In this case the insured has failed to cover R2, 000 of the risk, some 20%.

A claim would be paid for R8, 000 minus the 20%, resulting in R6, 400 being paid.

A loss of R3, 600.

 

Summary

The cost of replacing items changes often and sum insureds need to be reassessed in line with changes. Under insurance can have a severe impact on the successful settlement of claims and result in major financial hardship.

Whilst not wishing to over insure, it is essential that you have the correct cover in place.

Incompass would be delighted to discuss your insurance needs and provide you with a free quotation based upon your specific circumstances.

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Guest House Insurance – Saving you money

Nobody likes to pay more for their guest house insurance then they have to, but at the same time guest house owners do not wish to compromise the quality of the cover they have in place.

There is also no denying that there is only a limited amount of guest house insurance companies in South Africa – and it may well be that some brokers have access to most of them.

So how can Incompass Guest House Insurance Service save you money?

1.    We deal with all the major insurers – for different types of establishment’s different companies offer better deals.
2.    We do not charge you broker fees on top of the guest house insurance premiums as is common practise with most insurers.
3.    And perhaps most importantly – we have superb insight into the policy terms and conditions and cover options. Our highly trained staff can more often than not save you money by simply knowing the product and its options better. We carry out a full assessment to see what you actually need cover for and at what levels – this exercise means that we often save you money without even changing the insurance company your guest house is insured with.

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