Although the Bureau of Labor Statistics reports over a million security personnel working in the United States, this doesn’t include independent contractors or those who freelance as security guards. Some security guards use a patrol car, golf cart, or another motorized method of transporting themselves around the site they are protecting. It’s only a matter of time before they experience an incident that will result in injuries, illnesses, or even death. Here are some examples from the Occupational Safety and Health Administration. Your information is secure with us and solely used to connect you to relevant insurance offers, companies and services. Contracts for security companies are considered low-risk contracts when a security guard is not in contact with the public for a majority of the time.
It serves the same purpose as having auto insurance on your personal car. All of your patrol vehicles should have auto insurance on them through your company. Worker’s compensation is a pretty standard insurance policy for most businesses by clicking this link guardium.co
It’s not typically required by law, but some clients and agencies could ask you to have a certificate of insurance before they work with you. The annual cost of your security guard insurance depends on what kind of security industry you work in and the level of risk involved. Having the relevant insurance can cover any extra costs, such as legal fees and compensation. In the long run, having the right policy is more cost-effective than the risk of not having any insurance and dealing with a client making a claim against you. An increasing number of security guards and companies are arming their security personnel, which has caused an increase in insurance premiums for some security guard insurance programs. Licensed firearms legal liability insurance is a specially underwritten insurance product available to security companies, independent security guards, military organizations, and law enforcement agencies.
Independent security contractors or freelancers will generally have to find their own insurance so they can be fully protected in the performance of their duties. For the majority of security guard personnel, there are certain types of insurance available that provide most of the protection necessary, these being property insurance and general liability insurance. Any security guard who is charged with protecting some kind of business could find that the premises are at risk from either burglary or vandalism, and this would be covered by property insurance.
They use radio and telephone communications to call for assistance from police, fire, or emergency medical services as the situation dictates. Security Guards write comprehensive reports outlining their observations and activities during their assigned shift. They also may interview witnesses or victims, prepare case reports, and testify in court. If you are a security guard working independently, you may use your own vehicle for work. This is an important consideration when purchasing auto insurance, as you will be using your vehicle for both personal and professional reasons. CoverWallet provides all the security industry insurance solutions company needs.
For professional liability insurance, coverage of up to $1 million would generally have no deductible at all, and the premium would be included with the company’s general liability policy. Workmen’s Compensation insurance in an amount of $1 million will usually carry a deductible of $1,000 and have an annual premium of $2,500. Some security guards are obliged to obtain a surety bond as a condition of employment, and in such situations, $10,000 of coverage would be payable as a premium of $250 annually.
When taking care of a building or business, property could be at risk of vandalism or burglary. To start your security guard insurance application, click ‘Get Quotes’ below and complete the form to find the cheapest quotes from the most qualified security company insurance carriers. XINSURANCE’s security officer insurance is available for both armed and unarmed guards, and it can even be tailored to fit doormen.
In addition, workers’ compensation is important to cover injuries of security guards while on the job. In addition, cyber liability insurance offers coverage for data breaches where client information becomes compromised. Liability insurance offers third-party coverage, which means other people receive compensation if an incident occurs related to your security guards. If you don’t have security guard insurance, you may have to pay huge damages fees. XINSURANCE can provide solutions for risks such as personal injury, lost keys, errors and omissions, and even alleged assault and battery liability. From a fight that breaks out to accidental injuries caused by a security guard’s actions, you can stay protected.
XINSURANCE exists to fill gaps in the insurance market by taking on high-risk clients that other carriers may not be willing to work with. XINSURANCE’s parent company is Evolutions Insurance Brokers, LC, and they work in the security, guard dog, and tattooing industries, as well as many more. In industries like insurance and finance, however, you want the people that handle your money and your insurance to be just a little obsessive about it. We make sure every I is dotted and every T is crossed to ensure you get the very best coverage possible and that you are covered when you need it the most.
