- Emerging
alternative methods of obtaining personal income, such as Uber driving and
Airbnb property rentals, are demonstrating a growing need for specialized
insurance
- InsuraGuest
provides fill-the-gap insurance coverage to hotel and vacation rental
properties, which they can then pass on to their guests, as a means of
dealing with surprise short-term stay emergencies and property damage
issues
- The
travel accommodations insurer has also entered the European market and
expects to find an entry point into Asia by mid-year
- InsuraGuest’s
product can help businesses to minimize damaging publicity about adverse
events
As people across the country explore an expanding variety of
alternatives for generating personal income, establishing protections against
liability lawsuits is becoming more of a concern for such non-traditional
business operators. Uber-style ride-share drivers who have encroached on
licensed taxi companies’ territories, vacation rental properties entering the
space historically defined by hotels and bed and breakfasts, and even equipment
owners beginning to compete with construction contractors (http://ibn.fm/T4i4a) may have
atypical needs for insurance coverage.
InsuraGuest Inc. is responding to the needs of the
lodging industry with its expanding reach as an InsurTech innovator, offering
hotel and vacation rental clients a platform for providing their guests
fill-the-gap insurance coverage during a property stay. The coverage provides a
measure of protection against accidental in-room property damage, lost or
stolen goods, accidental medical, and accidental death or dismemberment that is
not the properties fault and may otherwise be exempted by the property’s
insurance or the guest’s regular coverage.
“The InsuraGuest’s Specialized Hotel Guest Protection Policy
helps the hotel and the guest with certain mishaps that may happen during the
guest’s stay,” stated Roger Bloss, the CEO of national lodging chain company
Cal-Vegas Ltd., and an advisory board member and consultant for InsuraGuest
during an interview with Hotel Business last year (http://ibn.fm/AEvtz). “These
mishaps can be easily filed and processed by the hotel manager on InsuraGuest’s
online platform. Hoteliers who invest in InsuraGuest often see a reduction in
their overall primary insurance costs.”
The Hotel Business report states that lodging businesses
also benefit from offering the insurance by receiving a small percentage of the
policy’s price back in revenue, and by potentially minimizing negative
publicity about a contested incident.
“Thirty years ago, if there was litigation between a hotel
and a guest, any publicity or public knowledge was minimal,” Bloss stated.
“Today, because of social media, thousands – if not millions – will know and,
regardless of the outcome, the publicity will not be favorable to the hotel.
So, not only can liability be financially damaging to a property, it can
destroy its reputation.”
The United States alone has over half a million properties
that advertise short-term rental use accessible online through sites like
Airbnb and Vrbo (http://ibn.fm/luX02),
and analysts at the iPropertyManagement.com website are predicting that
vacation rentals will overtake the hotel industry’s revenues during the coming
year based on the 150 million-plus Airbnb users worldwide already.
For more information, visit the company’s website at www.InsuraGuest.com
NOTE TO INVESTORS: The latest news and updates
relating to InsuraGuest are available in the company’s newsroom at http://ibn.fm/InsuraGuest
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QualityStocks (QS)
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Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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