How To Get an Insurance Quote for a Hotel
- May 20
- 5 min read
Running a hotel means you’re managing constant guest turnover, maintaining your property, and coordinating staff across housekeeping, maintenance, and operations. All it takes is one incident—a guest slipping in the lobby, water damage affecting multiple rooms, or a shuttle accident—to create a major financial setback.
That’s why many owners begin researching hotel business insurance and specifically ask: how do I get an accurate insurance quote for a hotel? At Wexford Insurance, we’ve worked with hotel owners across a wide range of operations, and we’ve seen firsthand how the quoting process can either set you up for proper protection—or leave costly gaps.
As Nate Jones, CPCU, ARM, CLCS, AU, founder of Wexford Insurance, explains:
“Getting a hotel insurance quote isn’t about filling out a quick form. It’s about telling the full story of how your business operates so the policy actually matches your real-world risk.”
This guide walks you through the exact steps to get a quote—and how to do it the right way.
Average Cost of Hotel Insurance
Before diving into the quote process, it’s helpful to understand what hotel insurance typically costs.
Estimated Range: $2,500 – $20,000+ annually
Covers guest injuries and third-party property damage
Hotels have high exposure due to public access and guest traffic.
Estimated Range: $5,000 – $50,000+ annually
Covers your building, rooms, and contents
The larger and older your building, the higher your premium is likely to be.
Business Owner’s Policy (BOP)
Estimated Range: $6,000 – $30,000 annually
Bundles general liability and commercial property insurance
Estimated Range: $3,000 – $25,000+ annually
Based on payroll and employee roles
Estimated Range: $2,500 – $12,000 per vehicle annually
Covers shuttles and service vehicles
Estimated Range: $1,500 – $10,000 annually
Required if alcohol is served
Umbrella Insurance
Estimated Range: $1,500 – $7,500 annually per $1M
Adds extra liability protection
Expert Insight: In Nate Jones’s experience as a former underwriting manager, hotels with multiple services (events, dining, transportation) often require higher liability limits than expected due to combined exposures.
How To Get an Insurance Quote for a Hotel (Step-by-Step)
This is where most hotel owners struggle. Getting an accurate quote requires more than basic information—it requires a clear picture of your operation.
Step 1: Gather Your Property Details
Start with the fundamentals:
Number of rooms
Building size and layout
Year built and last major updates (roof, plumbing, electrical)
Construction type
These details directly impact how insurers evaluate risk.
Step 2: Document Your Hotel Operations
This is one of the most important steps—and often overlooked.
Be clear about everything your hotel offers:
Restaurant or bar service
Event or conference space
Pool, gym, or amenities
Shuttle or transportation services
At Wexford Insurance we often see claims arise from services that weren’t clearly disclosed during underwriting. That can lead to coverage gaps later.
Step 3: Prepare Your Loss History
Insurance companies will ask for:
3–5 years of prior claims
Types of losses (slips, water damage, etc.)
At Wexford Insurance, we recently helped a hotel owner improve their renewal pricing simply by clearly explaining the steps they took after a prior water damage claim. Carriers want to see improvement—not perfection.
Step 4: Outline Your Payroll and Staffing
Workers’ compensation pricing is driven by:
Number of employees
Job roles (housekeeping, maintenance, front desk)
Total payroll
More staff means more exposure, especially in physically demanding roles like housekeeping.
Step 5: Share Safety and Maintenance Practices
Insurance carriers look closely at how you manage risk.
You should be ready to explain:
Cleaning and inspection routines
Maintenance schedules
Staff safety training
One of the most common mistakes Nate Jones, CPCU, ARM, CLCS, AU sees hotel owners make is relying on informal processes instead of documented systems.
Step 6: Work With an Independent Insurance Agency
Getting quotes from a single carrier limits your options.
Working with an independent agency—like Wexford Insurance—allows you to:
Compare multiple carriers
Customize coverage
Identify gaps before they become problems
Step 7: Compare Coverage, Not Just Price
This is critical.
Two quotes may look similar, but differ in:
Coverage limits
Exclusions
Deductibles
Nate Jones, CPCU, ARM, CLCS, AU, emphasizes: “The cheapest quote is rarely the best. Coverage structure matters more than price when you’re dealing with high-exposure businesses like hotels.”
What Factors Affect Your Hotel Insurance Quote
Even with the same steps, pricing can vary based on risk.
Property Size and Guest Volume
More guests mean more potential for claims.
Services and Amenities
Pools, restaurants, and event spaces increase liability exposure.
Building Condition
Older properties with outdated systems are riskier to insure.
Claims History
Prior losses influence how carriers view your risk.
Safety Protocols
Well-managed properties with clear procedures often receive better pricing.
For more insight into how business insurance pricing works overall, the Insurance Information Institute provides a helpful overview
Key Insurance Coverages for Hotels
General liability insurance covers:
Guest injuries
Property damage claims
Legal costs
Protects your physical structure and contents from major losses like fire or storm damage.
Covers employee injuries and lost wages.
Hotel staff face risks from:
Slips and falls
Repetitive motion injuries
Lifting strain
For workplace safety standards, OSHA provides guidance here:https://www.osha.gov/workers
Required for:
Shuttle services
Maintenance vehicles
Liquor Liability Insurance
Essential if alcohol is served on-site.
Umbrella Insurance
Adds additional protection for large claims.
How to Lower Your Hotel Insurance Costs
You can’t eliminate risk—but you can improve how insurers evaluate your business.
Stay on top of maintenance
Prevent issues before they become claims
Document procedures
Show carriers you manage risk consistently
Train your staff regularly
Reduce injury frequency
Install safety features
Cameras and lighting help prevent incidents
Bundle your policies
Simplifies coverage and may reduce cost
Review coverage annually
Adjust as your operations evolve
Work with a knowledgeable agency
Better structuring leads to better pricing
At Wexford Insurance, we help hotel owners implement these strategies long-term—not just at quote time.
Frequently Asked Questions About Hotel Insurance Quotes
1. How long does it take to get a hotel insurance quote?
Most quotes are completed within a few days, depending on how quickly you provide detailed information.
2. What information is required for a quote?
You’ll need property details, operations breakdown, payroll, and loss history.
3. Can I get a quote without prior insurance?
Yes, but carriers may require more detailed underwriting information.
4. Do I need liquor liability insurance?
If you serve alcohol, this coverage is strongly recommended and often required.
5. Why are quotes different between carriers?
Each insurer evaluates risk differently and may emphasize different factors like claims history or property age.
Why Hotel Owners Choose Wexford Insurance
At Wexford Insurance, we understand that hotels are not one-size-fits-all operations. Every property has different exposures, and your insurance should reflect that.
We’ve helped hotel owners:
Navigate complex underwriting requirements
Identify risks tied to operations like dining and transportation
Structure policies that match real-world conditions
Because we’re an independent agency, we represent multiple carriers. That allows us to compare options and tailor coverage specifically to your hotel.
Nate Jones, CPCU, ARM, CLCS, AU, leads our agency with deep technical expertise. He graduated from Indiana State University with a degree in Insurance and Risk Management and previously worked as an underwriting manager.
“At Wexford Insurance, we have seen firsthand that the right insurance strategy doesn’t just protect against losses—it gives business owners confidence to operate and grow,” Nate explains.
We are also a proud Trusted Choice agency, committed to transparency and client advocacy.
Get the Right Insurance Quote for Your Hotel
Getting an accurate insurance quote for a hotel starts with working with an agency that understands hospitality risks and knows how to present your business correctly to carriers.
Our office address is107 N State Road 135, STE 304,Greenwood, IN 46142
Call 317-942-0549 or visit www.wexfordins.com. We will compare multiple carriers and help you secure the right protection at the best possible price.
