A comprehensive business insurance plan is crucial to properly protect this type of business. As a specialized industry, Florida Cemetery and Crematory operations need an insurance plan that was designed by an agent who understands the risk faced.
This business requires assistance to customers during their most difficult time. The service that you provide is very important, yet one incident could cost the business everything. Whether it is a simple slip and fall or someone unhappy with the service they received, a proper policy will protect your Florida Cemetery and Crematory business.
Florida Cemetery and Crematory Insurance – Building 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.
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.
Florida Cemetery and Crematory 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.
Personal Injury Protection (PIP) – Required by Florida State Law, PIP pays 80% of your medical bills and 60% of your lost wages, up to $10,000. Benefits are paid no matter who is at-fault for the accident.
Florida Cemetery and Crematory 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.
Florida Cemetery and Crematory Insurance – Workers’ Compensation
Florida requires most Funeral Homes (depending on how many employees you have) to carrier $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.
Florida Cemetery and Crematory 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.
Barbee Jackson Insurance is Your Trusted Business Insurance Agency
Florida Cemeteries and Crematories play a crucial role in the life cycle. Being entrusted with the end of life tasks that the family remembers will remember long after. Don’t let just any insurance agency write your insurance. Work with the specialists who know the importance of keeping you well protected. Call Barbee Jackson Insurance at (850) 389-2001 to get a comprehensive insurance review done today.