I wanted to apply for hospitality insurance cost for my hotel and wanted to know how much does hospitality insurance cost?
The amount of a company's annual revenue that goes toward paying the premiums for hospitality insurance is typically between one and five percent of that company's total annual revenue. The cost of hospitality insurance is affected not only by the size and scope of the company but also by the industry in which the company operates, as well as the location of the company. For example, a small hotel located in a more rural area will have insurance rates significantly lower than those of a large hotel chain located in a major metropolitan area. Rural areas have a lower risk of natural disasters and other hazards.