North Carolina Funeral Home Insurance Policy Information
North Carolina Funeral Home Insurance. Funeral directors or morticians prepare deceased bodies for burial or cremation. Services offered generally include transportation of the body to the funeral home for preparation and embalming, the sale of caskets, urns, and memorial items, funeral services at any location chosen by the client, transportation of the body, flowers, and family members to the cemetery, and notification to the local newspaper. Cremation also can be arranged through the funeral director. A pre-payment option may be offered, which places a long-term fiduciary responsibility on them.
Funeral home insurance policy is vital for businesses including funeral homes, which typically require coverage for a variety of costs including property damage and work-related bodily harm. On the whole, funeral homes require several insurance policies, each of which needs to be catered to your specific business.
No two funeral homes provide exactly the same service, and your commercial insurance needs might differ from your competitors. That's why each of these policies can be customized to meet your specific requirements. That's is why the smartest move a funeral home can make is to ensure they are properly protected with an-adequate North Carolina funeral home insurance policy.
North Carolina funeral home insurance protects your mortuary from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Commercial General Liability Insurance
This type of policy covers any costs associated with a number of events including lawsuits, settlements, employee injury, or property damage involving a third party. If for instance, a mourner slips and falls inside your business premises; or one of your workers damages a customer's vehicle while going about their business, general liability insurance can help with expenses relating to property damage and/or medical costs.
The business itself needs coverage for property damage (i.e., to protect assets and fixtures inside the building) in case of a hazardous event such as fires, storm, theft, and vandalism. Your premises probably needs coverage for items such as:
- Office equipment including computers and other electronics
- Specialized equipment for embalming
- Business property such as coffins on display or for sale
Some businesses are eligible for a comprehensive insurance package known as Business Owners' Policy (BOP), which offers liability insurance, property insurance, and business interruption insurance in an affordable package. Discuss this with your insurance agent to find out what types of North Carolina funeral home insurance packages your business is eligible for.
Special NC Funeral Home & Director Liability Coverage
In order to establish an infallible insurance policy, both the funeral home and directors may require additional liability protection to boost your basic CGL policy and to safeguard specific standalone policies. This may include:
- Directors & Officers liability insurance: This is meant to protect essential decision makers in the business (e.g., board of directors) from any legal issues arising from misconduct or poor decisions. Without this form of protection, individuals in management position may lose their assets in a lawsuit if found to have done any of the following:
- Bad investment decisions
- Illegal hiring and firing
- Releasing confidential information to the public
- Failure to maintain property
- Gross negligence
- Conflicts of interest
- Professional liability insurance: It is not uncommon for funeral directors to be accused of negligence or error, resulting in financial harm to the family of the deceased. Regardless of the validity of the claim, your professional liability policy can help cover costs when proving your case.
Commercial Auto Insurance Coverage for Hearses and other Company Vehicles
Driving is a major part of the funeral home business, and businesses that own fleets of hearses, trucks, cargo vans, and passenger cars need insurance coverage for both the vehicles and the drivers.
- Commercial Auto Insurance: This policy covers a number of things including collision and comprehensive motorist coverage for commercial vehicles. Coverage is normally based on two things; the way your vehicles are used in the business, and the persons responsible for driving them. For individuals who prefer to hire or lease business vehicles - or if you and your workers use personal vehicles for business purposes, additional coverage may be required. NC commercial auto policies typically cover the following:
- Vehicles owned and operated by your business
- Vehicles owned or leased by your business
- All vehicles used for business purposes (this includes vehicles not owned, hired, or leased by the business, e.g., a personal car used to conduct business).
You can choose to list the vehicles separately on your auto policy based on each vehicle's characteristics and corresponding North Carolina funeral home insurance coverage.
NC Funeral Home's Risks & Exposures
Premises liability exposure is high as people entering the location to arrange and attend funerals are often in a fragile emotional state and may be unaware of their surroundings. The rooms and halls must be free of obstructions, and floor coverings must be in good condition.
There should be sufficient personnel to direct and assist, and they must be able to handle emergency situations. Parking lots and sidewalks must be kept free of ice and snow and must be in good condition. Lighting should be sufficient for the situation. Visitors may bring food into a designated area, which needs to be kept clean. If there is a playroom for children, it must be supervised at all times. Additional security may be required for high-profile funerals.
Off-premises exposures include conducting services at houses of worship, event centers, homes, and gravesites. Equipment used during services can pose a tripping hazard.
Professional liability exposure is high. While damage to a body is considered property damage, any improper handling can result in emotional distress to the family. The funeral director should comply with FTC regulations regarding itemization of prices for any services rendered. There should be excellent documentation regarding identification and handling of the deceased and any personal effects.
The family's wishes concerning all aspects of the body handling must be documented, signed, and strictly followed. There should be procedures on checking latches on the casket and on the hearse. Should cremation or other services be outsourced, the funeral director should be sure there is adequate liability coverage in place from the outsource vendor.
Environmental impairment exposure is high due to the potential for air, surface, or ground water, or soil contamination due to the toxic and corrosive impact of the embalming fluid and waste materials such as blood. The director must adhere to all federal and state guidelines for proper disposal.
Workers compensation exposure can be high due to the handling of bodies. Common injuries include cuts, puncture wounds, slips, trips, falls, foreign objects in the eye, and back injuries from lifting bodies. The use of chemicals can result in serious eye, skin, and lung injuries.
Some chemicals, particularly formaldehyde used in embalming fluid, are toxic. Employees must be fully informed as to the potential effects of any chemicals, including long-term occupational disease hazards so that they can take action as quickly as possible. Embalming operations require employees to wear gloves and masks to prevent contamination from bodily fluids, particularly blood.
Those transporting bodies to and from the funeral parlor, cemetery, or crematory can be injured in automobile accidents.
Property exposure consists of offices, a retail display area for caskets, urns, and memorial items, processing area, and viewing rooms. Ignition sources include electrical equipment, heating, and air conditioning. If the funeral home is located in a converted dwelling, all heating, cooling, and electrical wiring must meet current codes. Furnishings are highly susceptible to smoke, water, and fire damage.
Caskets are often wooden and lined with fabric that will help feed a fire. If embalming takes place on premises, the embalming fluid should be stored in small quantities and kept in an approved cabinet due to its corrosive and toxic nature. There should be adequate ventilation to prevent the buildup of chemical vapors which can ignite. Theft can be a concern, as the embalming fluid has become an attractive additive to marijuana.
Security is important to prevent unauthorized entrance to the premises. An on-premises crematory increases the exposure to fire due to the extremely high temperatures required to consume a body. There must be adequate clearances as the flue exits the chimney and controls in place to prevent overheating. Fuels used for crematory ovens include liquid petroleum, natural gas, or home heating oil. These must be stored in approved containers.
Crime exposure is from employee dishonesty. Background checks should be conducted on all employees handling money. Billing, ordering, and disbursements must be kept as separate duties. There should be a regular auditing of books especially if prepaid policies have been sold.
Inland marine exposures include accounts receivable if the funeral director offers credit, bailees customers, computers, special floater, and valuable papers and records for customers' and suppliers' information. The bailees customers exposure is from taking custody of the body of the deceased and any personal items that accompany it, plus personal items belonging to family and friends that are left in the funeral director's office or other designated area during visitations and the funeral. Equipment used off premises to conduct the funeral, such as at churches and other locations, should be covered with a special floater. Duplicates of all records should be made and kept off site.
Commercial auto exposures include transporting the body to the funeral home, then driving the hearse, flower car and other vehicles supplied to the family for funeral services. Additional services such as long distance body transport or emergency body pickup may be offered. All drivers must have the appropriate licenses and be aware of any local ordinances regarding funeral processions. Side trips should not be permitted. MVRs should be ordered on a regular basis. Vehicles must be regularly maintained with documentation kept in a central location.
Garagekeepers liability exposure is moderate if the funeral director offers valet parking or places visitors' vehicles in line for funeral processions.
Aside from the standard North Carolina funeral home insurance policy, you can explore other options with your insurance agent to find out ways in which you can protect your business and employees.
Worker's compensation insurance policy protects your workers from costs relating to illness and injury and is required for any non-owner employees in most states. On the other hand, a package such as excess liability coverage can provide additional coverage or supplemental liability protection, giving your business coverage beyond the normal limits offered by standard policies.
Other types of coverage that may be of interest include pollution liability insurance, employment practices liability insurance, and employee theft or crime. When shopping for the best NC funeral home insurance, discuss with your agent all items that may need coverage, and find a policy tailored to your specific business. Small businesses need a trusted advisor who will be able to guide them in finding quality, affordable insurance that shields them from the myriad problems that can arise at the workplace.
North Carolina Economic Data, Regulations & Limits On Commercial Insurance
For business-savvy individuals who are looking to establish operations for their corporation in North Carolina, having a firm understanding of the economic status of the state is essential. It's also crucial that business owners understand what the regulations and limitations for commercial insurance in the state. Below, we offer an overview of the economy and insurance requirements in the Tar Heel State.
For any business owner who is thinking about establishing a NC based organization, it's essential to first understand if the state is considered a healthy location for your enterprise. Before you set up shop, understanding key details that are related to the economy of the state, in addition to what type of commercial insurance is mandated is essential.
Economic Trends for Businesses In North Carolina
Job growth is promising in NC. Between 2017 and 2026, it is estimated that 389,000 jobs will be created within the state. In 2017, the unemployment rate within the state continued to fall at a steady rate; however, as of March, 2019, the state's unemployment rate rose 0.1 percent, a slight increase. Though the unemployment rate in North Carolina is slightly higher than the national average (0.2 percent higher), the forecast is positive, with rates holding steady in the coming years.
As of January, 2019, the unemployment rate did increase in all 100 North Carolina Counties; however, the rate is still lower than it was during the early 2000s. With an unemployment rate of 3.6 percent, Asheville had the best labor market in January, 2019, while in Rocky Mount, the rate was 6.0 percent, the highest in the state.
It is predicted that the following industries will contribute the most to NC's labor market through the year 2026:
- Aerospace and Defense
- Biotechnology and Pharmaceuticals
- Business and Financial Services
- Computer- and Mathematics-related occupations
- Food Processing and Manufacturing
- Furniture Production and Sales
- Health Care and Social Assistance
- Outdoor Recreation
- Plastics and Chemicals
- Professional, Scientific, and Technical Services
Commercial Insurance Regulations and Limits in North Carolina
Every industry is required to comply with state-mandated commercial insurance regulations in the state of North Carolina. According to state law, all businesses that employ three or more workers must carry workers' compensation insurance. Businesses that rely on vehicles for their operations must also carry commercial automobile coverage. Organizations that operate in areas that are prone to flooding must also carry commercial flood insurance. Additional forms of coverage may be required, as well, depending on the specific industry that a business operates under.
Additional Resources For Retail Insurance
Read valuable small business retail insurance policy information. In a retail business, you need to have the right type of commercial insurance coverage so that your store, employees, and inventory are protected.
- Adult Novelty
- Antique Dealers
- Appliance & Electronics Store
- Army Navy Surplus Stores
- Art Dealers
- Art Gallery
- Arts & Crafts Supply Stores
- Bicycle Shop
- Boat Dealers
- Book Store
- Bridal Shop
- Candy Confectionery Store
- Carpet Store
- Cell Phone Stores
- Clothing Store
- Collectibles Memorabilia Store
- Consignment Stores
- Convenience Store
- Cosmetics Store
- Costume Stores
- Dry Cleaning
- Embroidery Services
- Equipment Rental
- Fabric Stores
- Fish Markets
- Flea Markets
- Funeral Home
- Furniture Store
- Gift Store
- Greeting Card Stores
- Hardware Store
- Harness & Saddle Shops
- Home Improvement Store
- Infant, Baby & Children's Clothing Stores
- Jewelry Store
- Lamp Stores
- Lingerie Store
- Luggage Store
- Meat Market & Butcher Shop
- Men's Clothing Stores
- Music Store
- Office Supply Store
- Paint & Wallpaper Store
- Pawn Shop
- Pet Store
- Pharmacy Liability
- Plumbing Supplies Fixtures Store
- Poultry Dealers
- Rent To Own Stores
- Scrap Metal Dealers
- Sewing Store
- Shoe Store
- Sporting Goods Store
- Stationary Store
- Thrift Store
- Ticket Agency
- Tire Store
- Tobacco Store
- Toy Store
- Travel Agency
- Trophy Stores
- Tuxedo And Formal Wear Rental Store
- Vending Machine Operators
- Wig Store
- Women's Clothing Stores
Retail stores are susceptible to premises liability claims because of customer traffic, but large department and specialty stores are more susceptible than most.
All retail stores have significant property exposures. The on-hand stock represents a considerable investment, but the amount on hand fluctuates seasonally. For this reason, physical damage insurance on this property must be arranged carefully. When the insured occupies a non-owned building, insurance coverage must be arranged for the insured's interest in extensive improvements and betterments made to the premises.
Crime insurance, in the form of employee theft and money and securities coverage, is also very important.
The businessowners policy was designed with retail exposures and operations in mind. For this reason alone, it should always be the first type of package coverage to consider. However, for those risks not eligible for the business owners policy program, the commercial package policy (CPP) is a practical and convenient way to combine a number of coverages into one policy.
Retail businesses generate income through interaction with customers. This interaction is also how a customer can sustain an injury and then sue the retailer for damages. Hazards, exposures and operations both on premises and off are important and must be covered, but liability the retailer may incur because of the merchandise sold must also be considered and insurance protection arranged.
Inventory or stock is the major property exposure for most retail operations. Because stock values tend to fluctuate or have significant peaks at certain times of the year, value reporting or peak season valuation options should be considered. Business income coverage, including business income from dependent properties coverage, may mean the difference between a retail operation staying in business or being forced into bankruptcy following a loss.
When the insured occupies a non-owned building, insurance coverage must be arranged for the insured’s interest in extensive improvements and betterments made to the premises.
Most retail businesses offer endless opportunities for a variety of criminal activities. For this reason, the coverages needed must be carefully evaluated. Holdup and robbery losses may be the most obvious concerns but employee theft, fraud and counterfeit money losses are also serious issues that cannot be dismissed.
Retail businesses are gaining greater exposure to international issues because of the growth in sales via the internet. As these sales increase, the added exposures faced by these retailers must be evaluated. While their operating horizons are expanding so are their potential loss exposures.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Equipment Breakdown, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits, Umbrella, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Bailees Customers, Goods in Transit, Jewelers Block, Cyber Liability, Employment-related Practices, Business Auto Liability and Physical Damage and Stop Gap Liability.
Request a free North Carolina Funeral Home insurance quote in Albemarle, Apex, Archdale, Asheboro, Asheville, Belmont, Boone, Burlington, Carrboro, Cary, Chapel Hill, Charlotte, Clayton, Clemmons, Clinton, Concord, Cornelius, Davidson, Dunn, Durham, Eden, Elizabeth City, Elon, Fayetteville, Fuquay-Varina, Garner, Gastonia, Goldsboro, Graham, Greensboro, Greenville, Harrisburg, Havelock, Henderson, Hendersonville, Hickory, High Point, Holly Springs, Hope Mills, Huntersville, Indian Trail, Jacksonville, Kannapolis, Kernersville, Kings Grant, Kings Mountain, Kinston, Knightdale, Laurinburg, Leland, Lenoir, Lewisville, Lexington, Lincolnton, Lumberton, Matthews, Mebane, Mint Hill, Monroe, Mooresville, Morehead City, Morganton, Morrisville, Mount Airy, Mount Holly, Murraysville, Myrtle Grove, New Bern, Newton, Oxford, Pinehurst, Piney Green, Raleigh, Reidsville, Roanoke Rapids, Rockingham, Rocky Mount, Salisbury, Sanford, Shelby, Smithfield, Southern Pines, Spring Lake, St. Stephens, Stallings, Statesville, Summerfield, Tarboro, Thomasville, Wake Forest, Washington, Waxhaw, Waynesville, Weddington, Wesley Chapel, Wilmington, Wilson, Winston-Salem, Winterville and all other NC cities & North Carolina counties near me in The Tar Heel State.
Also find North Carolina insurance agents & brokers and learn about North Carolina small business insurance requirements for general liability, business property, commercial auto & workers compensation including NC business insurance costs. Call us (704) 703-1413.