SECURITY SERVICES

RISK EXPERTISE

Security service operations including security guards, investigation, security system installation, and monitoring services have unique risks associated with their business.  These operations serve as emergency responders and prevent crimes at their clients’ locations.  Though a lot of security services daily duties are routine, staying alert and ready to respond to an emergency is the priority.  We have protected numerous security businesses protect themselves from loss.

FAQ

Do Security Services need insurance?

 Yes, security operations have a lot to protect.  They need insurance to protect their property, equipment, employees, vehicles, as well as third party liabilities.

What are some notable risks facing Security Services?

• Employee Injury: Stress-related illnesses may arise due to the serious nature of the work. Guards that work alone in dark areas may be targeted by burglars.  While responding to alarms, employees may be injured in auto accidents, threatened, or physically attacked by intruders.  Proper training is necessary with regards to use of autos, firearms, and general procedures.
• Property in Transit: Equipment transported to job sites may be at risk of theft.  Surveillance equipment can be highly sophisticated and a target.  All equipment should be secured and locked up when not in use.    
• Professional Liability: The protection offered to clients for safety and security create risk if the security operation fails in its professional duty to the client. The commitments and promises made by the security company should be review and evaluated.
• Automobile: All drivers must be licensed with acceptable MVRs. If the service responds to alarms, the warranties and guarantees provided to clients concerning response time should enable employees to respond without having to break or disobey any traffic laws.  If company vehicles are provided to employees, written procedures should be in place regarding personal use.

Which insurance coverages are needed for Security Services?

Insurance coverages needed for security services include (but not limited to) Property, Inland Marine, Crime, General Liability, Professional Liability, Auto including Hired and Non-Owned, Workers Compensation, and Umbrella.

How much does insurance cost for Security Services?

Insurance premiums for security services will vary based upon several factors.  Each policy is rated on different exposures which may include payroll, revenue, property value, location, driving record, claims history, among others.

How do I purchase Security Services insurance?

Biscayne Risk & Insurance Group can help guide you through the insurance buying process.  Contact us at 561.571.1001, quotes@biscaynerisk.com, or via the contact form below.