You’re a pillar of your community, supporting your clients through what is probably their most challenging time and helping them make decisions when emotions are running high. So focused on helping others, you may not often ask yourself 'what if something happened to my business?'. Knowing what insurance coverage is appropriate for funeral homes and memorial chapels – and having those coverages in place – can mean the difference between recovering from an unexpected loss and having to start all over from scratch.
Funeral Homes Insurance Coverage Options
Operating a funeral home or memorial chapel comes with some unique insurance needs. That's why we've put a short list of pointers together to highlight special areas of attention:
- Business Personal Property – Be sure to select a limit that provides enough coverage for all your business property including items directly used in your business like caskets and other displays, preparation supplies, as well as all the back-office equipment like computers, printers, copiers, and desks used in running your business.
- Building Coverage – Many funeral homes are long-established family businesses. If yours is, too, and you own your building, you have a few additional coverage decisions to make depending on your exact situation. When viewing coverage estimates, the important thing to keep in mind is that you're looking to insure for the cost to rebuild/replace your office building, which is often different than its current market value.
- Outdoor Signs - Almost every funeral home you see has a nice, elaborately-built sign to greet visitors, often placed street-side away from the building itself. Note that detached signs are not covered under the building coverage but can be addressed by the Outdoor Signs optional add-on coverage.
- General Liability Coverage – Think of the general liability coverage, also called Liability and Medical expenses as part of our packaged policy, as protection from general business risks related to operating at your location. While it provides coverage for injury or damage to others (think slip & fall), it will not cover you for claims made due to the the service you provide (for example, a customer sues you claiming that you improperly prepared her deceased relative). You can add optional professional liability coverage (see below) to round out your coverage.
- Funeral Directors Liability Coverage – This covers bodily injury, property damage, and personal and advertising injury stemming specifically from your work as a funeral director. This coverage is usually priced based on the number of calls (funerals you direct) in a given year.