Whether you already own and operate a funeral home or are considering buying or building a funeral home, pay attention to your funeral home insurance.
Like any business, there are some basics which need to be in place. First, is general liability insurance
, which protects the business when being sued from claims of bodily injury, personal injury, or property damage to another party.
With the number of frivolous lawsuits on the rise, it is important insurance to have in place.
Most funeral homes need to have a good property insurance policy in place. Furnishing and equipment as well general size of the facility will dictate how much coverage is needed. Make sure to factor in office equipment and art work and antiques if needed.
Workers compensation is needed for the employees. This coverage offers some salary protection and medical costs for the employee if hurt on the job. Back injury is a common injury for funeral home employees, which generally comes from lifting bodies. It also protects the funeral home business from being sued by an injured employee.
These three types of insurance are the basics needed for a funeral home. Now, let’s look at what else is necessary:
Commercial vehicle insurance
is written to cover any limos, hearses, and other vehicles used in the business. This includes any non-owned or hired vehicles you or your employees may use in the operation of the business.
*Property in transit coverage.
*Valet parking coverage if provided.
*Coverage of equipment used off site such as tables and chairs, tents, and other equipment used at burial sites and services.
*Equipment breakdown insurance and business interruption insurance.
*Professional errors and omissions for funeral directors.
It is important for funeral home owners to work with their licensed insurance professionals to design a comprehensive package to cover the risk exposure of a funeral home business. Make sure you also have ‘peace of mind’ to allow you to offer the important service you do.