Funeral Home Insurance

Why You Need Funeral Home Insurance Coverage to Protect Your Business

As the owner and operator of a funeral home, you are a cornerstone of the community and an important part of people’s lives—and beyond. But you are also a business owner, and as such, it is crucial that you protect your business with the right types and amounts of funeral home insurance coverage. That way, should a major—or even minor—disaster strike, you won’t find yourself deeply out of pocket and struggling to survive the financial storm.

There are numerous types of funeral home insurance to protect you against a variety of perils.

Typical types of funeral home insurance coverage include the following:

• General Liability Insurance
• Property Insurance
• Professional Liability Insurance
• Business Owners Insurance
• Commercial Auto Insurance
• Worker’s Compensation Insurance

Since every funeral home business is different, you may need a different combination of coverages depending on your funeral home’s specialties, location, and clientele. However, the types of coverage listed above are common coverages, and they are discussed in depth in the following sections.

General Liability Coverage

General liability insurance protects your business against lawsuits alleging your responsibility for property damage and bodily harm. For instance, should a funeral attendee trip on a raised bit of carpet and tumble down your stairs, this insurance covers your legal costs to defend the suit, as well as the amount of any judgment against you. Some policies also cover funeral expenses (should the accident result in death), as well as loss of services and medical expenses.

This coverage is an extremely common funeral home insurance policy, in part because it covers your legal costs whether or not you are at fault. Remember, even if you are supremely confident in your professional skills and the safety of your building, you are still susceptible to frivolous lawsuits. With general liability insurance, you can breathe easy that your costs are covered.

Commercial Property Insurance

Property insurance protects your physical building and property against a variety of perils, including fire, water damage due to burst pipes, vandalism, wind damage, and other named events. Covered damages vary by business insurance policy and provider, but business property coverage also often covers the cost of replacement should someone steal a guest’s valuables. Make sure you have full replacement coverage included in your business insurance.

Morticians Professional Liability Insurance

Also called errors and omissions (E&O) insurance, this insurance covers funeral homes in the event that someone brings legal action against you for losses sustained due to alleged subpar performance of your professional duties. Whether you are guilty of a professional error or omission or not, E&O insurance pays for your legal defense, court costs, and judgment amounts levied against you or your funeral home.

Business Owner’s Insurance

A business owners policy works like a combination of two separate policies and protects you against 1) general liability claims, and 2) property damage. For more information on those types of policies, see the relevant sections above.

However, understand that after property damage occurs or a lawsuit ensues, you may find yourself temporarily unable to operate your business. Depending on your policy, business owners coverage can cover you against lost income due to business interruptions as well as the costs to relocate to a temporary workspace.

Commercial Auto Insurance

Your funeral hearse requires this type of business auto insurance to protect your business in the event that you or an employee becomes involved in a collision. It works in much the same way as personal auto insurance, except it usually provides higher dollar amounts of coverage because of the higher risks entailed by driving a commercial automobile.

Commercial auto policies usually covers liability and property damage, which protects you against legal actions after a collision in which you are found to be at fault. It also covers repairs to the vehicle, and any medical expenses incurred by you or your passengers while operating the vehicle.

Workers Compensation Insurance

Workers compensation insurance protection covers the costs of medical care and part of an employee’s lost wages should he or she be injured on the job or develop a workplace-related illness. Businesses are often legally required to maintain “workers comp” coverage. Despite its mandatory status, this valuable coverage affords considerable protection for you, your funeral home, and your employees.

Choosing the Right Funeral Home Insurance Coverage

To choose the best funeral directors coverage, consult with Balsiger Insurance who understands the unique risks of running a funeral home. Be sure to ask about general and professional liability coverage to protect your funeral home against legal actions related to your business.

Ask about property coverage or business owner’s coverage to make sure your funeral home building, furniture, and other business personal property are protected in the event of a fire, storm, vandalism, or other event. Finally, make sure you carry adequate amounts of worker’s compensation and commercial auto coverage. Both are required by law for funeral homes in many jurisdictions, so failure to buy these types of business insurance coverage puts you doubly at risk.

Funeral Home Insurance with Balsiger Insurance

Balsiger Insurance is an independent insurance broker with multiple locations in the United States. We offer business insurance policies for funeral homes in the following states: New Mexico, Tennessee, Nevada, Utah, Idaho, Florida, California, North Dakota, Oregon, Washington,  Colorado, Georgia, Arizona, Missouri, Montana, Pennsylvania, Minnesota, Ohio, North Carolina, Illinois, Wisconsin, and Texas.

As an independent insurance agency for funeral homes we can shop multiple carriers to get you great coverage at an affordable price. Reach out to our team today for a free quote from an insurance agent for your funeral home insurance program needs.