Security Insurance

Protect your small business with commercial insurance.

Why Orr and Associates?

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Our Policies

General Liability Insurance

General liability insurance protects businesses from claims of property damage, bodily injury, and personal injury during operations or from their products/services. It covers legal fees, medical expenses, and defense costs.

Business Owner’s Policy

Business Owner’s Policy (BOP) is a bundled insurance policy for small to medium businesses that combines multiple coverages at a lower cost, including property damage, bodily injury, and business interruption protection.

E&O Insurance

E&O insurance, or Errors and Omissions insurance, provides protection for businesses against claims of professional negligence. It covers legal fees and settlement costs related to errors or omissions in providing professional services.

Commercial Auto Insurance

Commercial auto insurance covers vehicles used for business purposes, providing protection against accidents, theft, and damages. It includes liability coverage for bodily injury, property damage, and covers associated expenses.

Workers’ Compensation

Workers’ compensation provides financial protection to employees for work-related injuries or illnesses. It covers medical expenses, lost wages, and disability benefits, ensuring that workers receive proper care and compensation.

Surety Bonds

Surety bonds provide financial protection by guaranteeing the fulfillment of obligations. They involve three parties: the principal, obligee, and surety.

Why is insurance important for a Security business?

As a security company, having insurance is important to protect your business, employees, clients, and manage potential risks. Here are some important types of insurance you should consider:

1. General Liability Insurance: General liability insurance provides coverage for bodily injury or property damage that may occur during the course of your security operations. This can include accidents at client sites, damage to client property, or injuries to third parties. General liability insurance helps cover legal defense costs, settlements, or judgments if your business is found liable for such incidents.

2. Professional Liability Insurance (Errors and Omissions Insurance): Professional liability insurance, also known as errors and omissions (E&O) insurance, is crucial for security companies. It provides coverage for claims arising from alleged negligence, errors, or omissions in your security services. This insurance protects you in case a client alleges financial loss or damages resulting from your security operations or advice.

3. Workers’ Compensation Insurance: If you have employees, workers’ compensation insurance is typically required by law in most jurisdictions. It provides benefits to employees who suffer work-related injuries or illnesses. Workers’ compensation insurance covers medical expenses, disability benefits, and lost wages for employees, reducing your liability in case of workplace accidents or occupational illnesses.

4. Commercial Auto Insurance: If your security company uses vehicles for patrolling, transportation, or response purposes, commercial auto insurance is necessary. It provides coverage for damages or injuries that may occur in accidents involving your company vehicles. Commercial auto insurance includes liability coverage, physical damage coverage for your vehicles, and coverage for medical expenses and property damage.

5. Cyber Liability Insurance: Cyber liability insurance is important for security companies that handle sensitive client information, use digital systems, or provide cybersecurity services. It provides coverage for data breaches, cyberattacks, or unauthorized access to client information. Cyber liability insurance helps cover the costs of managing a data breach, including legal expenses, notifying affected individuals, credit monitoring services, and potential liability claims.

6. Crime Insurance: Crime insurance protects your security company against losses resulting from employee dishonesty, theft, or fraud. It provides coverage for theft of client property, employee theft, forgery, or other criminal acts that may occur within your business operations.

7. Business Interruption Insurance: Business interruption insurance provides coverage for financial losses and expenses if your security operations are temporarily interrupted due to unforeseen events, such as fire, natural disasters, or accidents. It compensates for lost income, ongoing expenses, and facilitates a smoother recovery process.

It’s important to consult with an insurance professional who specializes in security company insurance to assess your specific needs and determine the appropriate coverage for your business. They can help tailor insurance policies to match your security operations, potential risks, and ensure comprehensive protection for your security company.

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