Funeral homes tend to be small, family-run, very unique businesses. Many are integral parts of their communities; families of all kinds place their trust in funeral homes during the worst of times. Funeral homes and funeral directors need comprehensive small-business insurance to protect them from financial ruin caused by fires, weather events, injuries and lawsuits.
One-size-fits-all business insurance is not the right answer for a funeral home or funeral director. Your exposures are not the same those of a retail shop, manufacturer or any other small business. You need to work with an experienced independent insurance agent who knows your business and who can find the right funeral home insurance from reputable insurance companies.
Funeral Home Insurance Core Coverage
Your business and the business down the street are not the same – even if the other business is also a funeral home. While you need a set of core funeral home insurance policies, each of these must be tailored to your unique business.
Commercial general liability insurance is a necessity for funeral homes and funeral directors. It provides coverage for costs related to third-party property damage or bodily injury that occurs on your premises or caused by you or one of your employees in the course of doing business. For example:
- a mourner may trip and fall on a rug inside the funeral home or on a crack in your parking lot.
- an employee may damage a customer’s vehicle while maintaining the funeral home grounds.
In these types of cases, your policy will reimburse the injured party for medical expenses or the cost of the lost or damaged item. In addition, general liability insurance covers costs related to lawsuits, including court costs, attorney fees, and any settlements or judgments that you are required to pay. It also provides coverage for claims of advertising liability, slander and libel.
Funeral homes and funeral directors also need property insurance to protect the funeral home building as well as the contents of your building, including fixtures, furniture and office equipment.Commercial property insurance helps you replace or repair damaged or destroyed property in the event of a covered loss caused by an event such as a fire, weather event, theft or vandalism.