All You Need To Know About Funeral Home Insurance Coverage In Illinois, Chicago
Are you aware that most funeral homes in Illinois are owned by individuals? Are you looking forward to start a funeral home? Are you looking for the best funeral home insurance coverage in Illinois? If so, you are at the right place. As a business owner, it’s very essential to protect yourself from any potential lawsuits.
Why your funeral homes need insurance
About 86% of funeral homes in USA are owned by individuals hence they are wither small or upcoming business. However, just like any other business, funeral homes are prone to lawsuits hence as a director you should protect yourself by purchasing an insurance program. For instance, a funeral home insurance coverage Illinois package will protect your home from third party claims, pay for settlements, court fees, legal defense, your property and more.
Real life situations where funeral homes in Chicago can be protected
There are many instances where your business insurance coverage will; protect you from lawsuits. Here are some real life situations where Illinois funeral directors are protected in case a claim arises:
- Accidents do happen. If at any one-time your circuit breaker malfunctions and starts an electrical fire which burns your property and building, the property insurance will cover these damages.
- For instance, a customer comes to your funeral home seeking services but during the walk he/she trips and falls. Reason being that cleaners left a very slippery floor the previous night. The customer is rushed to the emergency room and files a lawsuit against your business. A general liability insurance will protect you from paying for legal defense.
- If one of your employees gets injured while cleaning, a workers compensation insurance claim will cover all medical costs and wages from being out of work.
Types of insurance for funeral homes
General Liability Insurance
This insurance ensures that your funeral home is protected from any lawsuits arising from property damage or body injuries. A Business Owner Policy (BOP) is where you include property coverage in General Liability Insurance.
Workers Compensation Insurance
It covers any medical costs or wages lost when an employee gets injured at work. These injuries might arise from illness or accidents.
Commercial Auto Insurance
All Chicago funeral homes require a car for transport purposes. Therefore, this insurance covers all the major costs and uninsured motorists.
Professional Liability Insurance
This insurance covers your business if it’s held legally liable for damages arising from negligence or improper advice.
Why should you read through Annual Insurance Reviews?
Annual Insurance reviews enables funeral home directors to know the best insurance plans for their homes. You will also be able to know the costs, method of payments and benefits of choosing one insurance company over the other. For instance, some companies will offer better customer support at a cheaper price.
Benefits of using an Insurance Broker to shop for top Programs
To begin with, an insurance broker is very experienced in this field hence he/she should be able to assist you in getting top rated programs at best rates. Most people don’t like using middle men but here are reasons why:
- They are cheaper – Most companies will often provide a special broker pricing. This implies that your will get premium offers at lower prices.
- They are fast – Brokers process quotation figures and direct services very quick. This saves you time.
- Ease – They make the work easier for you by providing human services which are not available when using direct services.
- They ensure that all policies are cross checked before handed to customers. Some brokers will also educate their customers. This give you a piece of mind as you will be certain that everything is under control.
Before enrolling in any funeral home insurance coverage Illinois plan, ensure that you read through the terms and overall cost.