You are the first line of defence for your client as you protect them from burglary, assaults, damages, and natural disasters. You are critical to the safety and security of your clients. You would be the first to respond whenever an incident occurs.
But it is a dangerous profession as you protect against crime, assault, theft, and accidents.
If you are working for a celebrity, there is a risk of being attacked by a mob. If it’s a politician, there is a risk of a terrorist attack. If it’s a property, there are chances of burglary. Even the most routine task, inspection, or patrol can be dangerous and even deadly if you encounter an armed burglar. Different situations, different responsibilities, and each have a danger of its own. Your life as a security guard is at stake.
Because of this, it is downright essential to have protected your security guards with the security guard insurance coverage available.
Business insurance for security guards not only covers the loss of life and injuries at duty but also assures coverage to the damages caused by negligence.
If you haven’t opted for security insurance yet or don’t consider it necessary, here are some reasons why it is as important as your baton and badge.
Covering the Damages and Injuries Occurred During the Course of Your Work:
Even the most experienced and skilled security guard can make mistakes. And even a small mistake can lead to serious consequences.
For example, a security officer spots and shoves the suspect, fracturing the latter’s arm. And the suspect turns out to be the property’s owner who accidentally locked himself out, and his escape through an open window triggered the alarm system.
No matter whose fault it is, the client has every ground to sue your company for injuries, losses, and damage as the security guard has acted before analysing the situation. Simply put, you would be liable to pay for the losses.
Public liability insurance is designed for such scenarios. It can help to protect you if you become liable to pay for legal settlements, lawsuits, or compensations resulting from the injuries or damages during the course of your work.
Covering the Losses Caused by Negligence or Inadequate Work:
Let’s say your client is assaulted while the security guard’s routine has him in a different location on the property. Or what if you return from the making the rounds only to find that someone had time to break in as the gate was not properly closed.
Enter Errors and Omissions insurance. It can cover damages caused by failure or negligence on the part of the guard.
Similarly, lost key coverage can help if you have lost the master key to the hundreds of doors in your client’s building. As it could cost a huge amount of money to rekey all the doors, lost key coverage may cover these expenses.
Medical Malpractice Extension:
Providing first aid to an injured person is a noble task. But what if your first aid leads to further injury?
This is a tricky scenario for a security guard as their employer can be sued for medical malpractice if his aid goes wrong.
Therefore, medical malpractice should be included in the cover so that a security guard can confidentially render first aid to a victim.
Securing Your Vehicles:
Automobile insurance is essential for your vehicles to be used by your employees over the course of their duty. It usually covers your company’s cars against the risk of devastating accidents or even minor breakdowns. Generally, automobile insurance offers protection against collision, personal injury, and also have coverage for uninsured drivers.
I hope you must have understood the importance of business insurance for your security business. It will ensure peace of mind, and your security guard can give their best knowing that they are insured. After all, you are into the profession where you are more vulnerable to threats than other industries, making business insurance one of the essential things to have in the first place.
*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations. Talk to a business insurance broker for more information.