2014

Insurance Policies for Crematoriums and Cremation Services Businesses

As crematorium, your business deals with things most people would rather not think about. In order to protect your unique liabilities, our agents will customize insurance policies specifically for your crematorium.

To cover your business, you should consider the following insurance policies…

General Liability Insurance for Cremation and Funeral Service Professionals

General Liability Insurance is an essential type of business insurance for crematoriums. This policy can pay your business's legal bills for a variety of common lawsuits.

General Liability Insurance pays for lawsuits where third parties sue your business claiming it…

  • Damaged their reputation.
  • Injured them or created an environment that caused a physical injury.
  • Damaged their property.

Third-party lawsuits are ones filed by people who are not employed by your business. This includes your clients, business partners, vendors, contractors, and others.

If a family is visiting your funeral home and one of them trips over a lip of carpet, you could be liable for their medical bills, pain and suffering, and other costs.

If your crematorium forgets to remove a valuable ring from the deceased, the family could sue your business for the lost property.

Both situations are covered by your General Liability Insurance policy, which will pay for your legal expenses, including…

  • The cost of lawyers and paralegals.
  • Miscellaneous court costs for evidence, witnesses, etc.
  • Settlements to prevent the lawsuit from going to court.
  • Judgments that pay damages to the third party.

Contact an insureon agent for a free quote on General Liability Insurance.

Property Insurance Protects Funeral Homes and Cremation Professionals

Among other things, Property Insurance protects your crematorium's…

  • Offices and other property.
  • Cremation equipment.
  • Supplies and inventory.

Property Insurance reimburses your company when its commercial property is lost or damaged by fire, specified weather events, theft, vandalism, and other covered claims.

As a crematorium, your business may be susceptible to fire damage. If your crematorium malfunctions and a fire burns down your building, Property Insurance can cover the cost to repair or replace your building, equipment, and other commercial property.

When you purchase a Property Insurance policy, you'll choose the value for which you'll insure your property. There are two options. The first is a cash-value policy, which is your property's current value (even if it has depreciated). Frequently, this value is less than the cost of purchasing a replacement for your equipment and supplies. These policies generally have lower premiums, but also give your business less coverage and offer lower payouts in the event of a claim.

Your second option is a replacement-value policy, which insures your property for the cost it would take to replace it.

Many Property Insurance policies also include Business Interruption Coverage. This coverage pays for your business to relocate if your workspace is destroyed or damaged by a covered claim. It also pays for the income you lose while your business is forced to temporarily shut down.

Business Interruption Coverage is important for businesses like yours because your building / workplace is necessary for you to do your work. You can't just pick up and move to a new building and get started the next day. You'd have to install new cremation facilities in a new building.

If a storm damages your building and you're unable to work for a month, Business Interruption Coverage will pay you for the income you would normally receive, allowing you to pay your bills and keep your business afloat.

Business Owner's Policies for Human and Animal Cremation Services

Business Owner's Policies (BOPs) package General Liability and Property Insurance into one insurance plan and charge you one premium that usually costs less than you would pay for two separate policies.

Your business must meet certain conditions in order to purchase these cost-saving insurance packages. Insurance companies sell BOPs to "lower-risk" small businesses that…

  • Don't need more than a year's worth of Business Interruption Coverage.
  • Don't work in high-risk industries or environments.
  • Don't have large-scale buildings, offices, or workplaces.

Complete our online insurance application, and our agents will check to see if you qualify and send you a free, no-strings-attached insurance quote.

Cyber Liability Insurance for Crematoriums and Mortuary Services

Cyber Liability Insurance (also called Data Breach Insurance or Cyber Risk Insurance) covers your mortuary when cyber criminals hack your network.

You might be thinking that no one would target your small business, but in reality most cyber attacks target small businesses. Hackers go after small businesses looking to steal money or data from your computers.

When your network is hacked, the law often requires your business to inform any clients, customers, or business partners whose data may have been accessed. What does that mean for you? It means you'll have to mail letters, call, and / or email each person whose digital records could have been exposed. That means a lot of angry customers.

First-Party Coverage (one type of Cyber Liability Insurance) will pay for many of the ways your business needs to respond to a cyber attack. First Party Coverage pays for…

  • Fraud monitoring for clients whose data may have been accessed.
  • P.R. / advertising campaigns to help your business restore its reputation.
  • Crisis management.
  • Expenses related to contacting your clients about the security breach.

Cyber Liability Insurance can be the difference in your business's ability to bounce back from a cyber attack.

Your business probably won't need Third-Party Defense (the other type of Cyber Liability Insurance). These policies are for IT-related businesses that are in charge of other businesses' network security.

Errors and Omissions Coverage for Cremation Funeral Service Professionals

When your business is sued for a professional mistake, Errors and Omissions Insurance (also called E&O or Professional Liability Insurance) can pay for your legal costs.

Errors and Omissions lawsuits include claims that your business…

  • Made oversights or mistakes.
  • Failed to deliver promised goods and services.

Given that your business deals with people's remains, any mistake could upset your clients. If your business accidentally gives the wrong cremated remains to the wrong family, the lawsuit could be devastating.

Workers' Compensation Insurance for Funeral Homes and Pet Cremation Businesses

Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp) is a state-regulated insurance that covers your business's liabilities and responsibilities to pay for workplace injuries and illness that your employees suffer.

When an employee strains their back at work, even if they have a history of back problems, your business could be responsible for their medical bills. You could have to pay for MRIs, back surgery, and wages while they recover. In addition, your business could be sued for other damages and long-term disability.

Workers' Comp can pay for these costs and others, including…

  • Lawsuit settlements, judgments, and defense fees.
  • Employee medical bills.
  • Employee pay while they are unable to work.
  • Funeral costs and support payments for the family of a deceased worker.

Insureon: Small Business Insurance Customized for Crematoriums and Mortuary Businesses

Work with an insureon agent, and find out why 98% of our customers rate our service as "excellent."

Our online insurance form is quick and simple. Fill it out, click submit, and usually within 15 minutes, one of our agents will respond with a group of customized insurance quotes.

Get a free quote today.

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