Tourism is the heavy industry of our country. One of its main advantages is the quality of accommodation offered to our guests. Millions of tourists holiday in Greece every year. They now choose destinations that a few years ago were not considered tourist destinations. They also choose accommodation different to traditional hotels and rented rooms. Short-term rental platforms (Air b n b) currently allow accommodation built for residential rather than tourist purposes to be used.
The risks arising in each accommodation, whether it is a classic hotel, a small apartment complex or a villa and even a flat in an apartment building, are the same.
There are two main types of risks that such a business could face i.e. civil liability to customers and risks against the property.
CIVIL LIABILITY
It covers liability for damages claimed by customers for accidents that may occur during their stay on the site of the business. They may be caused by negligence or omissions of the owners or employees and relate to the premises of the company. Visitors, when suffer physical or material damage, are entitled to file a lawsuit demanding compensation. Then the insurance company is coming to cover the cost. Civil liability to customers may be caused by:
- fire, explosion, short circuit
- consumption of food or beverages prepared or sold by the bar, restaurant, tavern, etc., causing food poisoning
- incidents during events & conferences within the premises of the company
- elevator operation
- use of swimming pool
- operation of sports facilities, spa/baths, beauty centers
- loss or damage to objects in the guest’s room after theft
PROPERTY PROTECTION
Real estate costs anything from a few hundred thousand to a few million Euros. It has often been built with a bank loan and in cases of family businesses using savings of years and perhaps generations. The cost of an insurance policy is minimal compared to the size of the investment it protects.
Such a contract covers the property of the company from risks such as:
- Fire, forest fire, lightning, smoke
- Fall of trees, branches, poles
- Explosion
- Flood, storm, snowfall, hail, frost
- Pipe leak/breakage
- Theft after break-in/robbery of content
- Damage to the building from the attempted theft/robbery
- Earthquake