The accommodation and food services industry is a thriving one, particularly in larger cities and high tourist areas. No matter where you travel in the United States, you can rely on being able to find lodging or food within a reasonable driving distance. This industry provides jobs to nearly 13 million Americans and is a major contributor to the Gross National Product. If you own an establishment within this industry, it is important that you protect your investment with a comprehensive business insurance policy that is designed specifically to protect your company from the hazards inherent to the accommodation and food services business sector.
All U.S. businesses are classified into various industry sectors and subsectors by the National American Industry Classification System (NAICS). This is done for the purpose of facilitating the collection, analysis and reporting of financial data for various industries.
The accommodation and food services industry is comprised of businesses that provide lodging services or food as part of their primary business model. Therefore, business such as movie theaters, comedy clubs and other types of entertainment venues that may happen to serve food to patrons are excluded from this particular industry type.
There are currently 810,800 American business establishments classified as falling within the NAICS’s accommodation and food services industry sector. These include the following:
Business owners in the accommodation and food services industry have a number of risks against which they need to be protected. Commercial insurance providers understand this and offer a number of different and unique coverage options that are designed to meet the varying needs of these types of companies.
Some examples of coverage options that may appeal to owners of accommodation businesses include:
And some of the many coverage options specifically suited to the food services industry include:
This is far from a complete list of coverage types that are available with commercial insurance plans for the accommodation and food services industry. Not every option will be right for your business, but some may be necessary to protect you from potential hazards. It would therefore be in your best interest to work with an insurance professional who can provide you with guidance and advice about your business insurance coverage.
Building a business insurance policy that is suitable to meet all the coverage needs of your accommodation or food services business can be a complex and time-consuming endeavor. Fortunately, you can greatly simplify the process by requesting the assistance of an independent agent in the Trusted Choice® network. Because these agents are not captive to any particular insurance provider, they are free to shop around to find you great, competitively-priced coverage and can manage all of your insurance needs under one roof.
Contact a Trusted Choice network agent with an office near you to get more information and you can start comparing quotes on insurance for the accommodation and food services industry in no time.