By John Healy of Healy Insurances
The most suitable insurer and product for guesthouse insurance will depend on the size of the guesthouse.
Ordinarily the types of covers would include:
Material damage cover for Buildings:
fixtures and fittings, stock, guest effects, and other assets that your business owns. Covers will include fire, flood, escape of water, theft, and storm among other perils. Cover extensions are available such as fire brigade charges, signage and goods in transit.
Loss of money cover is usually standard up to €5,000. It is likely we will see a culture change post-pandemic due to reduced cash usage, but the extent of this change is not yet known. For now guesthouse policies will cover the loss of cash and cheques. The amount of cash covered can be increased depending on safe and security details. Personal assault cover can be included when carrying cash to the bank.
Employers, Public and Products liability:
All guesthouse policies include liability cover. Employer’s liability is covered up to a maximum of €13 million and can be based on employee numbers and/or wages. Public liability can be selected within a range of €1.3 million to €6.5 million and covers your legal liability in the event that you are negligent and required to pay compensation for bodily injuries or damage to third party property. Projected turnover will determine the rate charged. Products liability provides cover if a third party is injured by a product that you have sold.
This covers consequential loss of gross profits following an insured event such as a fire. It is important to review your gross profits sum insured on an annual basis.
This can include seasonal increases and deterioration of stock, loss of licence cover, glass breakage, cyber insurance, personal accident and many more.
A robust risk management structure can achieve more attractive rates and should include annual health and safety statement reviews, fire safety procedures, CCTV usage, and risk assessments.
Your policy should be tailored to your individual needs, so it pays to get expert advice from professionals who take the time to understand your business.
Kerry house prices accelerate – IPAV’s residential property price barometer
The Institute of Professional Auctioneers and Valuers (IPAV) latest Residential Property Price Barometer shows an acceleration in house price increases over the previous six months including in Kerry. Overall IPAV’s study has found double digit growth for 3-bedroom homes in Waterford and Limerick. And close behind are Tipperary, Meath, Louth and Cavan with nine plus […]
The Institute of Professional Auctioneers and Valuers (IPAV) latest Residential Property Price Barometer shows an acceleration in house price increases over the previous six months including in Kerry.
Overall IPAV’s study has found double digit growth for 3-bedroom homes in Waterford and Limerick. And close behind are Tipperary, Meath, Louth and Cavan with nine plus percent growth, followed in the eight plus percent range by County Dublin, Carlow, Dublin 15, Dublin 7 and Kildare.
In Kerry three-bedroom homes increased by 4.55pc; 4-bedrooms by 9.80pc and two-bedroom apartments by 3.70pc.
Some of the area specific increases are accounted for by new blended working opportunities where people don’t have to operate from formal office settings on a full-time basis, according to IPAV’s Chief Executive Pat Davitt.
“While that is an influential factor, the main driver of increasing prices is the lack of supply of homes to meet current and pent-up demand. And that is why predictions by economists and others of house price drops during the pandemic have not materialised, forecasts IPAV called into question at the time,” he said.
Mr Davitt said his organisation welcomes the Government’s new ‘Housing for All’ plan with a commitment to invest €4 billion per year to build 300,000 homes over the next nine years.
“While the nuts and bolts of how precisely the plan is going to achieve that target remains to be seen, it is in the interest of society as a whole that the plan works because continuing house price increases at the level we are currently seeing would not be sustainable over the longer term but will not abate either until more stock comes on stream to meet supply.
He said the extension of the Government’s Rebuilding Ireland Home Loan scheme from Local Authorities was welcome but it needs to be extended further to enable all purchasers to take advantage of the 4.5 times income under that scheme, not just first-time buyers.
The IPAV Residential Property Price Barometer charts house prices achieved by auctioneers, as opposed to asking prices. Mr Davitt said while that difference is always relevant it is particularly so now given the intensity of activity where, it would appear, asking and achieved prices are diverging, often to a considerable degree.
He thanked members of IPAV for their contribution to the study which he said provides “real market evidence as opposed to speculation on prices”.
Work at height regulations
Work at heights is work in any place, including a place at, above or below ground level, where a person could be injured if they fell. Access and egress to a place of work can also be work at height. The work at height regulations under the h Health and Safety acts place an onus […]
Work at heights is work in any place, including a place at, above or below ground level, where a person could be injured if they fell.
Access and egress to a place of work can also be work at height. The work at height regulations under the h
Health and Safety acts place an onus on employers to ensure that the work is properly planned and organised.
In advance of starting work, each situation should be assessed to determine the best method for obtaining access to the elevated position where the work needs to done.
These are the main factors you should take into consideration during this assessment:
* How long do you estimate the activity will take?
* How complex is the task?
* How many component parts need to be handled?
* How big and heavy are they?
* How high above ground level is the work be done?
* How much moving around horizontally will be necessary at an elevated position?
* What kind of access equipment is available?
* Is any additional equipment required for safe and economic working?
* Is it necessary to use a hydraulic platform?
* Are suitably trained and experienced personnel available?
* How much supervision will be required?
The work method must be discussed with all personnel and documented in a method statement.
The equipment to be considered could include:
* Hydraulic working platforms
* Mobile tower scaffolds
* Safety harnesses
All equipment should be inspected prior to use and used only in accordance with the standard operating procedures. Items such as hydraulic working platforms should only be used by trained personnel. All equipment should be included in the risk assessment documents and signed off by all users in the method statement.
The risk assessment should include a careful examination of what harm could be caused from working at height with a view to taking the effective steps to reduce the likelihood of this harm occurring, either through avoiding the activity or, where this is not reasonably practicable, by carrying it out in a safe manner using work equipment that is appropriate to the task and the level of risk.
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