New Orleans Motel Insurance

New Orleans Motel Insurance — New Company Enters Market Offering Super Low Rates! 

A large National Insurance Carrier is now offering a program specifically for the Hospitality Industry offering rate discounts up to 40%!

To learn more about this program call Jeff Davis Insurance at 337-824-4455 when you are shopping for Motel Insurance in New Orleans or the surrounding areas.

Additionally, did you know that you can request free quotes on Louisiana Motel Insurance?

To send us a request for quotes seven days per week click one of the below links for your area:

Motel Insurance New Orleans— Claims Scenario Number One Part 3.

In our previous post, we considered how the operation manager of BestBuy Motels, Nick Spencer, changed their commercial insurance to an agent named Johnny Blanchard of the Johnny-Come-Lately Agency.  Johnny was able to secure a significant rate reduction on their commercial insurance rates compared to their previous company saving nearly 30% and on 30 hotels that is a BIG saving.

Nick Spencer told Johnny Blanchard to carefully match all of their coverage limits and Johnny assured him that he did match everything up.  A few years ago the owner of BestBuy Motels, Emeric Babin paid a risk management consultant to draw up an outline of appropriate coverage that was necessary to protect his business from claims and losses.

Nick referred to that outline of coverage when he questioned Johnny’s quote that included a 90% coinsurance.

Because Johnny is a terrific salesman he convinced Nick that the coinsurance is not something to really worry about.

In reality, Johnny had no idea what an insurance coinsurance was for a Motel, he relied on the company underwriters to help him put together all the quotes.

This was the very first Motel account Johnny had ever sold and he was counting all the ways he was going to spend his rather large commission of about $40,000.

Nick was certainly impressed with Johnny and he readily accepted his explanation not to worry about the 90% coinsurance because Johnny is a charming and charismatic man.

New Orleans Motel Insurance — Now It’s Claim Time!

Johnny receives a frantic telephone call Tuesday morning from the owner of BestBuy Motels explaining that their best hotel nicknamed the Luxuriant was severely damaged by a fire, the cause was not yet known so a claim needed to be submitted immediately.

Johnny called the insurance company to file the claim.

Claims adjusters showed up the next day to begin their inspection of this once beautiful hotel.

After a few days, the team of claims adjustors came up with a preliminary damage estimate at around $8,227,000.

The supervising claims adjustor Stan Henry met with the operation manager Nick Spencer and the owner Emeric Babin and explained that the preliminary estimate of the damages came in at around $8.2 million in coverage and they mentioned that it looks like a coinsurance would be applied to the loss settlement.

Emeric wanted to know what that meant in terms of payment.

The claims adjuster explained how the coinsurance works, and what BestBuy Motel’s share of the claim would amount to be.

Emeric immediately turned to Nick Spencer and asked him, “Did you know about this coinsurance penalty?”

Tune in next week to learn Nick’s response, and find out how much BestBuy Motels would incur in total cost to pay this coinsurance penalty.

New Orleans Motel Insurance — Don’t Gloss Over the Fine Print!

We cannot emphasize enough how important it is for Hotel/Motel Owners to have a good understanding of what their policies cover, but more importantly what they do not cover.

Coinsurance is a provision that might be in your current Motel Policy.  In next week’s article, we will learn how this can affect claim payments after a loss. Don’t miss this issue!

If you are shopping for Motel Insurance in New Orleans or the surrounding areas we can certainly help.

Call us direct Monday through Friday at 337-824-4455 to speak with one of our licensed agents, or if you find your website after hours use the below contact forms to send us your request for information:

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