Security Insurance Explained
With security insurance, you can protect yourself while you are busy protecting other people. Having a security business means that you have to face a unique set of risks, not only to your business but also to the people whom you are protecting through your security business. In order to protect yourself against these risks, you need security insurance.
Whether you are a security guard or you own a security company, having security insurance can provide you the protection that you need against a variety of risks that could arise on your daily activities. A public liability cover can protect you against any legal action filed by a member of the public due to an injury or property damage. What if you’ve lost the keys to the establishment that you’re supposed to be protecting? There is a range of covers that you can include in your security insurance. You can even incorporate all of these in a single security insurance policy so you can save money on the premium. Additionally, you only need to renew a single policy which is tailor-made according to your needs.
Where can I get Security Insurance?
We recommend using Simply Business they are rated 4.7/5 on Feefo and have over 800,000 insurance policies in the UK. They compare many different providers so you can find the insurance cover that is right for your security business.
Finding the Best Security Insurance
What cover should you include in your security insurance?
A security insurance policy can protect you from a lot of risks that you might be facing while running your business. These policies can provide you peace of mind and the protection that you need when accidents can happen.
Public Liability Insurance
The most important cover that you should include in your security insurance is public liability insurance. This can cover you against any legal costs in case your actions or your business have caused injury or damage to their property and they decide to make a claim against you. This can also assist you in paying for the compensation that will be awarded to the client. Since your job requires you to get in contact with the public, then this cover is crucial for you.
Employers’ Liability Insurance
Do you employ staff in your security company? If so, then it is a legal requirement that you should get an employers’ liability cover. Notwithstanding whether your employees are temporary, part-time, full-time, or contractual, as long as you employ someone you will definitely need this cover.
Employers’ liability can cover you if your employees will file a claim against you due to the injury or illness that they sustain while doing their job. Since this is a requirement for your business, then it only makes sense that you should incorporate it in a wider policy. This can help you save a lot on your overall premium.
Dog Handlers’ Liability Insurance
Dog handlers’ liability cover is something that you need if you are using a dog for detecting drugs, explosives, or for security guarding. This can cover you against any claims filed against you in the event that your dog has caused injuries or damage to property. Even how well trained your dog is, they can potentially make mistakes. When this happens, it can possibly result in huge costs and might even cause your business to close down.
Professional Indemnity Insurance
Since you are providing service and at the same time you also provide advise with regards to security practice, then it is only essential that you’ll take out a professional indemnity cover. This can cover you in case your clients will sue you because of the service or advice that you have provided them.
Loss of Keys Cover
Having a loss of keys cover can give you peace of mind if your client entrusted you with the keys to their place. In case you accidentally lost the keys then this cover can help you in paying for its replacement. It can even protect you in case your keys are stolen and the premises that you are protecting was robbed.
Cash Carrying Liability
As an owner of a cash collection company, you are responsible for collecting and transferring a huge amount of money from one location to another. Since this job requires a lot of risks, then you must be protected with cash-carrying liability. This can protect you against any threats that may come up as you move the money to and from banks as well as the money that you keep on your premises.