Why Your Ohio Funeral Home Needs Insurance

Let’s Be Real…

 If we’re being honest, funeral homes have a lot at stake because they are dealing with touchy situations. A lot of things could go wrong when dealing with people’s loved ones in a time of sensitivity. You want your funeral home to be protected from liability issues as well as other things, such as property damage and auto accidents. Funeral homes, like any other business, need to be aware of all of the coverage that they may need. Below are the types of coverage that every funeral home should look into. Whether your funeral home is a small, family-owned business or a large company, you want to protect that company regardless. Here we give you some types of policies to consider but also encourage you to talk more with your insurance company to determine which are best for your funeral home. 




Types of Coverage:


Business Owner’s Policy

This gives you multiple things wrapped into one policy. It includes liability insurance, property insurance and multiple other types of coverage all in one policy. The policy does many things for you. It gives you coverage for your Ohio building in case of a fire, natural disaster or anything that could damage your company’s property. It also includes something called business income coverage that basically will take care of the losses your funeral home incurs if, for some reason, your business has to shut down and isn’t making the typical amount of money during that time. It also deals a lot with liability if your business or employees were to damage something or do something that could bring lawsuits and fees onto your business. This is basically your foundational policy that gives your funeral home the basics. This is probably the first policy you’ll want to think about when you start researching why your funeral home needs insurance. 


Workers Compensation Insurance 

Most people already know what workers compensation is because it is something important to have and to think about when considering why your funeral home needs insurance. This protects your employees. Your employees are the backbone of your business and what keeps it running, so you definitely want to make sure they are protected and taken care of, were something to happen. This policy will help them out with an income because if injured they most likely can’t work. It also helps with medical bills as well as protecting your Ohio business from being liable to take care of all of the costs themselves.


Employee Dishonesty Coverage

As much as we would all love to be able to fully trust our employees 100 percent, sometimes things happen and people do things that they shouldn’t. Even if you have the best employees in the world, you’ll want to consider this plan when thinking about why your funeral home needs insurance. For example, if an employee were to steal money from your business over time, this could really add up and put your business in a bad position. You don’t want to lose money or even worse, your entire business, because of someone’s dishonesty. Protect your funeral home with employee dishonesty coverage. It will help you sleep better at night knowing that they have your back and will help you recover from losses, were something as terrible as employee theft to happen.


Commercial Auto Insurance

If your Ohio funeral home has company cars, which it is likely considering most funeral homes own hearses, you’ll want commercial auto insurance. This is because car/auto accidents happen all the time. You definitely do not want your business to have to take a hit or even go under because of an employee driving recklessly or simply getting into an accident. Going along with the auto insurance topic, you’ll also want to consider non-owned/rented auto insurance when thinking about why your funeral home needs insurance. This is because not only do accidents happen in company cars, but they can also happen to an employee’s car. If an employee is using their own personal car for work-related purposes, your funeral home business could still be held liable.


Employee Practices Liability Insurance

The last thing you want your company to go through is a lawsuit for discrimination or harassment. This issue is so prevalent today with all of the discrimination issues in the media and companies have really taken hits because of this. When you think about why your funeral home needs insurance, think of the big issues today. Discrimination and harassment are huge ones in the news right now in Ohio, meaning they are important and shouldn’t be taken lightly. Make sure your company is protected and that you won’t be held liable. The best way to do that is to get this policy. This also includes cases of wrongful termination. For example, an employee that you have fired for being lazy could claim that you had other motives and reasons for firing him. This is very important to keep in mind when considering why your funeral home needs insurance.

Posted 7:29 PM

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NOTICE: This and all content is developed from sources believed to be providing accurate information. The information in this material is not intended to be used as tax or legal advice. Please consult with a tax and/or legal professional for detailed information regarding your individual situation. Some of this material was developed and shared by Cobos Insurance Center, Inc. to provide information that may be of interest. Cobos Insurance Center, Inc. is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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