Essential Funeral Home Insurance Coverage

Posted: June 25, 2020

As a funeral home director, always take heart that your role in the community is integral. Through serving families and loved ones each day, you already know the importance of planning and attention to detail. You’re also aware that as a small business owner, it is equally important to take the same care to protect the well-being of your business. Every funeral home requires specialized insurance coverage, and there isn’t a one-size-fits-all policy.

Our team at KSA Insurance is happy to help you understand your funeral home insurance coverage options so you can get the right coverage for your needs. Learn more below, and contact us today to request a free quote.

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Workers Compensation Insurance

Every business owner knows the importance of putting safety first for their employees. While having safety guidelines in place are a step in the right direction, the value of workers compensation insurance can’t be overlooked. Because this type of coverage is mandatory for every business that has employees, we recommend that it be the number one item on your list for funeral home insurance coverage.

With workers compensation insurance, all medical and therapeutic services are covered if you or an employee is hurt on the job. Additionally, workers compensation can also provide coverage for a portion of an employee’s lost wages.

Commercial Property Insurance

One of the most valuable assets of a funeral home is the physical property itself. For this reason, commercial property insurance should be a top priority. This type of coverage typically extends to protect both the funeral home itself and the assets within it, such as furniture, equipment, guest valuables, and more.

Business owners rarely imagine being affected by a costly event such as a burst pipe, storm, or fire, but it happens every day and the losses can be devastating. However, when you’re covered for the unexpected, you can rest assured that your business can recover and operate again as quickly as possible.

Commercial Auto & Car Insurance

Commercial auto & car insurance is another essential requirement for funeral home directors. Although it may appear similar to personal auto insurance, commercial auto insurance differs in a few key ways. For instance, personal auto insurance does not provide coverage for vehicles that are used for workplace tasks, while commercial insurance does. Due to the higher risks entailed when operating a commercial vehicle, such as a hearse, commercial auto coverage generally provides higher dollar amounts of coverage as well. In addition to collision coverage, commercial auto insurance can also include coverage options for non-accident damage—like theft or vandalism—medical costs, legal fees, and more.

Morticians Professional Liability Insurance

Morticians professional liability insurance provides a safety net for those who want added protection for their business. As a funeral home director, you know how high emotions can run when families and friends gather to mourn the loss of a loved one. During times like these, we know all too well how easy it is to trip over a small item, such as a rug or a small crack in the sidewalk. Should one of your guests sustain an injury from an accident like a fall and a case is brought to court, a professional liability insurance policy can provide financial protection.

Commercial Umbrella Insurance

Commercial umbrella insurance is another safety net for funeral home directors who want extra security, offering a broader range of liability coverage that extends beyond your standard policy. Similar to morticians professional liability insurance, commercial umbrella insurance also protects your business if a guest incurs an injury (for example, a slip and fall on a wet floor). Should a guest choose to take legal action, you can rest assured that your assets are protected.

Funeral Home Bond

Most states require funeral homes to purchase a surety bond in order to operate legally. The bond is the funeral home’s guarantee that they will operate according to all laws and standards when handling client funds. In the event of a breach of contract or financial mishandling, a client can file a claim against the bond, which the funeral home operator is ultimately responsible for paying (if the claim is found to be valid). Our agents at KSA Insurance can answer all of your surety bond questions and help to ensure you are in compliance with your local regulations.

Request A Free Quote Today

Now that you’re familiar with your funeral home insurance coverage options, it’s time to protect your business. In addition to covering the bare necessities listed above, you should also account for unique factors of your business, such as the size of your business and staff. Specialized policies are a must for this reason.

At KSA Insurance, our team is here to help. Operating as an independent insurance agency, we provide our clients access to a full range of policy options so you can get the coverage you need at the best possible rate. Take the first step to protect your business by requesting a free quote today!

Request Quote