Security guards are critical to the safety and security of businesses, government buildings, and individuals. They protect people and their belongings from fire, vandalism, theft, and the risk of bodily harm. Even with the most basic security jobs, security guards are putting their lives and livelihoods on the line. Security guards serve to protect—so don’t they need the proper insurance protection? This is where security guard insurance comes into play.
Examples of Why Security Guards Need Coverage
Alright, he's why you need commercial insurance.
- Example #1: You are a bouncer for a local nightclub. A couple of patrons start arguing and soon a bar fight ensues. You locate the offenders and throw them out. In the haste to end the fight, you’re a little rough with one of the drunk customers. As you shove them out the door, they fall down the stairs and break their arm. They sue you for assault and battery—but because you have assault and battery insurance coverage the cost of the lawsuit is covered.
- Example #2: You’re a security guard for a bank and an attempted robbery occurs. You managed to set off the security alarm and go to pull your gun—but the robber catches you off guard and shoots first. He shoots you in the shoulder and runs away. You’re unable to work for weeks as you recuperate from surgery. However, your workers’ compensation cover will cover your lost wages and medical expenses while you recuperate.
- Example #3: You work as a security guard for a football stadium and scan attendees to make sure they aren’t bringing in any dangerous weapons. However, someone manages to sneak in with a small hand pistol. During the game, they pull their gun. They were tackled by another security guard but managed to get a shot off, injuring another fan. You are sued for negligence and not performing your duties when you allowed the gunman into the stadium. However, your professional liability insurance steps in to protect you from liability for the incident.
These are just a few of the reasons insurance for security guards is necessary.
Who Needs Security Guard Insurance Coverage?
While not an all-inclusive list, these are some of the security professionals that should consider security guard insurance:
- Guards for Armored Cars
- Detective Agencies
- Government Security Contractors
- Mall patrol
- Security Guards (armed and unarmed)
- Security Company
- Security Consultants
- Undercover Guards
- Personal Protection
- Parking Lot Patrol
- Patrol Agencies
- Private Investigator
Anyone categorized in the security guard industry should consider business insurance.
Insurance Policies the Security Industry May Need
While some security guards receive comprehensive insurance protection through their employers, if you are an independent contractor you may be responsible to obtain security guard insurance on your own. Whether you’re a security guard, an independent contractor, or own a security company, these are some of the most basic policies you need to consider:
General Liability Insurance
General liability insurance typically covers third-party bodily injury, third-party property damage, accusations of libel or slander, and claims of advertising injury. If you have general liability insurance, any medical costs or court settlements that may be associated will be covered by your insurance company. This is the best comprehensive insurance coverage you can get to protect you and your security service.
Business Owners' Policy
A business owners' policy or BOP is a great way for small businesses to save money on insurance premiums. Insurance companies bundle some coverages and offer them at a lower price. They usually include general liability insurance, property insurance, and business interruption insurance. If your business operates out of an office, this insurance policy can be a great way to save money.
Workers' Compensation Insurance
Workers’ compensation insurance is legally required in most states when you hire employees. If a security guard is injured on the job, workers’ compensation coverage can help cover lost wages and the cost of medical expenses until they're able to return to work. This policy is a great way to protect your employees.
Commercial Auto Insurance
Many security companies use a vehicle while patrolling on the job, you need to obtain commercial auto insurance. If an accident happens where someone else's vehicle is damaged or another person is injured, you'll be responsible for their medical bills and paying for the property damage. Why do you need it? Personal auto insurance excludes coverage for any work-related accidents.
Professional Liability Insurance
If you or your security guard were negligent in their duties or gave inaccurate advice to a patron they can be held liable. Professional liability insurance helps protect them—and your business—if sued.
Other Important Insurance Coverage to Consider
There are a few other business insurance policies security services should consider.
Assault and Battery Insurance
Many general liability policies exclude coverage for assault and battery. Because security guards' jobs often result in the use of force, they are commonly sued because people claim the use of excessive force. Assault and battery coverage helps cover your legal expenses and any settlements if you are sued. Bars, nightclubs, and even retail stores often add this coverage in case a customer is injured during a bar fight or other excessive uses of force (even if it's necessary).
Sometimes your insurance coverage isn’t sufficient enough to cover the cost of damages or court settlements. Umbrella insurance covers what goes above and beyond the policy limits of your primary insurance coverage. It's often purchased in addition to a general liability insurance policy.
How Much Does Security Guard Insurance Cost?
General liability insurance for a security guard can start as low as around $100 a month for a $1 million policy. Factors that impact what your company pays for an insurance premium can include:
- The location of your business
- How many employees are on payroll
- Whether or not you use company vehicles
- The services your business offers
- The policy coverage amounts you choose
We recommend speaking with an experienced insurance agent to help determine your specific needs.
Get a Free Security Guard Insurance Quote
Whether you're a security company or an independent contractor, you need security guard insurance coverage. Let us help connect you with the best insurance policy at the right insurance company. Contact us today to get a free quote or simply gather more information. Complete the form at the top of the page by entering your zip code or give us a call at 877-907-5267.