Funeral Homes provide a grave service, no pun intended. Balancing the needs of a grieving family with your day-to-day business concerns is no small feat. The last thing you need to worry about is your business and liability coverage. It’s best to leave that to us.
At Rentz & Rentz Insurance, we respect how hard you work to console family members and loved ones dealing with loss. We are here help you with this process by designing a policy based on your business needs, then we work with the leading Funeral Home Insurance Carriers to find the package that works best for your business.
Bundling insurance products like Building, General Liability and Commercial Auto will save you the most money on your Funeral Home Insurance. Additionally, there are other products that you may not be aware of that will help protect your business like Funeral Directors Professional Coverage. It’s best to work with an agent that understands your business to make sure you are properly covered.
Funeral Home Insurance – Property Coverage
Commercial Building Insurance – Insures the covered building. The property can be insured at Replacement Cost (RC) or Actual Cash Value (ACV). In most cases you want a policy that is Replacement Cost, meaning you get the cost to rebuild the building at today’s cost without depreciation. An Actual Cash Value policy depreciates the building, meaning you get today’s cost to rebuild of a similar age and building type minus depreciation for how old it is.
Business Personal Property – Covers the business property such as furnishings and equipment.
Other Structures – Provides coverage for structures that are not permanently attached to the building. This could be a fence or another building on the same property.
Business Income – Provides loss of income for the business after a covered loss. This coverage includes lost profits and expenses during the time the business is closed or under reconstruction.
Signage – Signage can be expensive so it is important to make sure that you check the policy limits when it comes to outside signs.
Funeral Home Insurance – Auto Coverage
Auto Liability – Covers damage that you caused that results in a claim involving bodily injury or damage to their property up to policy limits.
Comprehensive and Collision – Provides physical damage coverage to your owned vehicle that was a result of a covered claim. This could be an accident, animal strike or natural disaster such as windstorm, flood or fire.
Uninsured Motorist Bodily Injury – covers you for bodily injury, pain/suffering, or death caused by an at-fault driver who didn’t have insurance or was underinsured.
Medical Payments – Helps pay for medical or funeral expenses of a covered driver after an accident regardless who was at-fault for the accident.
Funeral Home Insurance – General Liability
Protects your business if a customer/visitor is injured at your funeral home. This coverage also protects you if you are responsible for any medical or liability expenses associated with the injures.
Funeral Home Insurance – Workers’ Compensation
Georgia requires most Funeral Homes (depending on how many employees you have) to carry $100,000 per occurrence, $500,000 aggregate, and $100,000 per occurrence by disease. What do these limits mean? For any one incident (or claim) the maximum payout is $100,000. The maximum payout for any one policy term, regardless of the number or type of claims, is $500,000. Most policy terms are one year. Finally, the max payout for any one incident caused by disease is $100,000. In many cases these limits are not enough and higher limits of $500,000 and $1,000,000 can be purchased for very minimal increase in price.
Funeral Home Insurance – Other Coverage Options
Professional Liability – Protects the funeral home against claims for negligent acts, errors or omissions committed during business activities.
Employee Dishonesty– Helps recover losses from employee theft.
Employee Practices Liability – Protects your business against charges of discrimination, harassment or wrongful termination.
Commercial Umbrella – Provides businesses with an additional layer of protection from a significant loss whether it be at the business, offsite, or involving an auto accident.
Contact us at your earliest convenience to find out more about our funeral home insurance solutions or you can visit our online quote form. We understand your business and are proud to help you keep helping your communities.