As a security company, it’s your job to make sure that other businesses don’t need to call on their crime insurance coverage companies due to break-ins, vandalism and other issues that arise. However, if you really want to get the job done right, you, too, need security company insurance for your company during daily operations. Running a security operation is a risky business, and comes with completely unique risks each and every day. That’s precisely why you want to consider various security guard insurance programs to keep yourself covered while you take care of your clients.
1. Damage to a Client’s Property
Security detail can get sticky. If one of your hired security guards either directly or indirectly causes damage to your client’s property, you could find yourself in a mess of legal paperwork and financial losses. This type of security company insurance will pay for damages to a client’s place of business if your guards have done everything according to the book and either damaged the goods in their line of duty or failed to detect dangers such as potential theft and vandalism until it was too late.
2. False Arrest
Sometimes it seems easier to make an arrest first and ask questions later, but from a legal standpoint it simply isn’t a good idea. If a guard makes a false arrest and gets authorities involved, the falsely accused can, in fact, sue your company for damages that general liability coverage simply doesn’t pay for. False arrest security company insurance provides you with all the coverage and legal help you may need for this specific situation.
3. Battery and Assault
Your security team does its best to patrol on time and to catch any incident that could occur before an attack comes to fruition. However, mistakes happen, and it’s not possible to be everywhere at once. Even so, if someone is attacked on your guard’s watch and it’s found that the guard in question should have been in the vicinity at the time to stop the attack, you could find yourself at the bad end of a lawsuit.
This is yet another issue for which you’ll need to depend on specific professional liability insurance instead of a general liability plan. This type of security guard company insurance, like the rest, helps to prepare you against the unknown that future jobs are likely to hold.
4. Security Alarm Coverage
If your business specializes in providing clients with reliable security alarms rather than actual guards, you have a whole different set of needs when it comes to your insurance policy. These are some of the items you may want to consider adding to your plan:
- Cyber coverage, in the event that your alarms are disabled, hacked or faulty
- Excess liability insurance, to cover yourself from what general liability coverage doesn’t offer
- Employment practices liability insurance, in the event that an employee on your payroll decides to sue for anything perceived as discriminatory treatment
Each of these types of security company insurance options helps to ensure you’re able to handle the job at hand without worrying about legal litigation later on. Reach out to your commercial insurance provider to discuss your options and get the coverage you really need to keep your business running smoothly.
