Any business has its risks but operating a security firm has a number of unique risks attached to it. Being sufficiently covered with the right insurance is an important element to running a security company. InsureWise can help navigate you through the appropriate insurance coverages and tailor a policy that fits your specific needs. Below are some insurances that are ideal for security firms.
General Liability Insurance
This is one of the most general insurance policies a security company can hold. No matter the industry, the majority of businesses have general liability insurance. In the security industry, your general liability insurance should cover professional liability insurance/ error & omissions, assault and battery insurance, and firearms insurance to ensure your business is protected from related risks.
Especially for security officers in the field, the physical security industry can be very risky. If something happens to them on the job, you want to make sure the employees are taken care of. For most businesses that have employees, worker’s comp is fairly standard.
Property insurance will help you be covered if the building you are protecting is damaged. Where general liability can protect some of the property, the property insurance provides more specific coverage.
Commercial Auto Insurance
Commercial auto insurance serves the same purpose as having auto insurance on your personal car. If you have patrol vehicles, the auto insurance protects them.
In several ways, crime coverage can contribute to protecting your security company. Protection against theft and damage to company property is covered. This also helps protect your business if a security officer for committing unlawful acts in the field.
Insurance for Security Companies
When you have a security business that needs insurance coverage, contact InsureWise and let us help you get the right coverage for your security business’s specific needs.