Don’t be alarmed when trying to understand your locksmith business insurance needs, we can help you realize your unique risk exposures and provide you with insurance to help your business succeed.
Locksmith Insurance Breakdown
Southern States Insurance can provide coverage for your locksmith business ranging from a number of services including 24-hour emergency service, alarm and security systems, and the most basic installation and repair locksmith service. Our insurance agency in Atlanta can insure your business and can help your company succeed.
No matter where you choose to find your locksmith insurance protection let this serve as a guide to your conversation and discuss how each exposure impacts your locksmith insurance coverage.
Property Exposure
Property exposure is a coverage suggested for locksmith businesses that have retail operations and security system sales. It is a coverage that can potentially be bypassed if your locksmith business operates strictly with on-call repairs.
Property Exposure covers your stock and equipment, which is very important for expensive specialty equipment used to duplicate keys and open locks. These items are protected against fire, smoke, water, and theft under such coverage.
Crime Exposure
The greatest crime will arise from employees, as they are granted access to specialty tools and the ability to duplicate keys. This exposure can quickly grow from a crime loss against the locksmith to a liability loss from customers. Our insurance agency highly recommends background checks and strict hiring practices for employees.
Inland Marine Exposure
Inland Marine Exposure covers a locksmith’s tools and equipment while they are in transportation to customer’s premises. If your locksmith business installs locks or security equipment, there will be an installation floater exposure, that also needs to be covered.
Premises Liability Exposure
Because most of locksmith’s operations take place at the client’s premises and are off-site locksmith’s Premises Liability Exposure is typically minimal. The off-premises exposure is of utmost important as employees are trusted by customers to provide necessary protection and have unique access to business and home. The completed operations exposure can be very high for locksmiths if the business installs and monitors security alarms.
Automobile Liability Exposure
Provides coverage for travel to and from job sites. The biggest factors affecting the price of such coverage is influenced by the driver’s age, training, experience and records. Also the vehicles play a role in the cost of coverage as condition, age, maintenance all play an important role in the consideration of risk exposure.
Locksmith owners need to develop standard procedures that apply to “on call” personnel regarding sleep, alcohol use, and radius of operation.
Workers Compensation
The common locksmith is exposed to numerous risks as they are cutting, welding, drilling, and other required procedures as they are contracted to repair and install various operations. Persons on an emergency call may face higher dangers as they are in unknown areas often in late hours.
That Is Locksmith Insurance 101
That is the introduction to the insurance coverages we would tropically address for locksmith business. Some coverages may not always be necessary and occasionally we will write more coverages for your locksmith insurance policy. Southern States Insurance writes each policy specific to the insured’s needs. We believe every individual and business is different and deserves the best insurance coverage unique to their exposures.
We would love to quote your locksmith insurance coverage providing the insurance you need to help you succeed.
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