5 Essential Things a Funeral Director Needs to Know About Insurance
52% of us give no thought to funeral planning, according to research carried out by the Funeral Planning Authority. You might find it incredible that so many people bury their heads in the sand over what is an inevitable essential. But, are you guilty of failing to properly plan for other essentials, like protecting your business with the best value for money funeral director insurance?
Just like a final send-off is highly individual, insurance requirements vary from funeral home business to business too. Without comprehensive cover, you leave yourself open to financial risk as well as putting your reputation on the line. So what insurance do you need to stay protected? Read our top five essential things every funeral director needs to know about funeral home insurance:
1) Protecting your funeral home buildings and contents with commercial property insurance
Commercial property insurance will protect your funeral home business buildings and contents from things like fire, theft, and flood. You might also need to take out cover for equipment and items that are left away from your premises, such as chairs that may be used for a service at a cemetery. When taking out your policy, check that it includes protection from equipment failure. Without that, you could be faced with a big bill if there’s a problem with your electrical system or other key equipment is damaged or fails.
Make sure you get the precise cover you need by talking it through with a funeral home insurance specialist. An expert in this field will know exactly what questions to ask to ensure nothing gets accidentally left out.
2) Keep your hearse on the road with commercial vehicle insurance
Worse than just an inconvenience, if something does go wrong and you’re left with no transportation, you could find yourself letting down grieving relatives of the deceased.
From a state-of-the-art limousine to a traditional carriage drawn by horses, your fleet of commercial vehicles will need specialist insurance to protect them from theft or damage. Purchasing breakdown cover, which can offer a suitable replacement vehicle if needed, will also help to keep your business on the move.
3) Financial reassurance from employers’ liability insurance
If you employ any members of staff, you have a legal duty to take out appropriate employers’ liability insurance. This pays out if a member of staff makes a claim against you for an accident or injury caused by something to do with your business. Accidents take or forms, but could include an injury following a fall on an uneven surface at your premises. You need it even if your staff work part-time and it will pay your legal fees as well as any compensation that is awarded. Without it, you not only face huge compensation costs and legal fees but could also be fined by the Health and Safety Executive.
4) Public liability insurance
Your essential role liaising with grieving relatives means you’re dealing directly with the public almost every day. Unfortunately, accidents can and do happen. Public liability insurance gives you financial reassurance that any legal fees and payouts are covered in the event of injury or damage to person or property caused by something to do with your business. This could be anything from someone slipping on spilt liquid on the floor to something heavy falling down on top of somebody’s belongings and damaging them. In today’s ‘no-win, no-fee’ world, it’s easier than ever to make a claim, so although public liability insurance is not a legal requirement, it is considered a prudent essential for any business.
5) Safeguard your finances with interruption of business insurance
More than almost anyone, funeral directors are all too aware that we never quite know what is around the corner. If you’re unable to work because of accident or illness or your premises have to shut, business interruption insurance will help cover essential costs. That means bills can still be paid and your business can survive until you’re able to re-open.
Getting the best deal on funeral director insurance
We understand just how much you have to juggle day-to-day. From sorting out suppliers like florists and completing the paperwork to spending that all-important time with grieving families, there’s not always enough time in the day. It can be tempting to ignore business essentials like insurance by either continuing to renew without checking out if there’s a better deal, or worse, leaving yourself without the right level of cover.
To make life easier, trust a specialist insurance broker like Park Insurance, to do the hard work for you. We have 30 years experience helping funeral directors to find the right level of cover to protect their business. As preferred broker to some of the UK’s biggest insurance names, we can give you peace of mind that you have the level of cover you need at the best price possible.
We understand the unique needs of your funeral director business, so can tailor-make your policy to include everything you do need and nothing that you don’t. That means no nasty surprises in the small print, but hopefully, a nice surprise when it comes to the costs.
Take the hassle out of finding specialist funeral director or funeral home insurance. Call our friendly team on 0117 955 6835 or get in touch today and prepare your funeral business for the unknown future.