Alarm Companies Insurance

Insurance for the Alarm Contractor Industry

Alarm Contractors are entrusted by their clients with accessing and securing extremely sensitive and valuable property. Given those high stakes, we understand the significant risks that businesses in this industry face.

With nearly 50 years of experience and well-established relationships with many carriers that have achieved an “A” rating from A.M. Best, Bone Robertson & McBride, Inc. is well-positioned to provide Alarm Contractors with a collection of comprehensive coverages at competitive prices. 

What Is Alarm Contractors Insurance? 
Your company should first understand that alarm contractors insurance, also known as alarm installer insurance, may not refer to a single policy or type of coverage. Rather, this term may entail a portfolio of policies consisting of several types of coverage, and by assembling an adequate package, commercial alarm companies may retain access to critical financial assistance in response to incidents that might otherwise incur significant out-of-pocket losses and expenses. 

What Is Covered by Alarm Contractors Insurance? 
The exact details of your alarm contractors insurance portfolio, including its capabilities, limitations and exclusions, may vary significantly depending on its contents and the insurance company you work with. Generally, you should secure coverage that can provide funds and resources to help pay for losses involving your own property and those of third parties, such as your clients. Retaining access to financial aid for legal assistance may also be advisable. 

What Coverages Do Alarm Contractors Need? 
Your organization’s insurance needs may be unique, but many coverages include financial protections that may be valuable for most members of your industry. Typically, alarm contractors should prioritize the following types of insurance: 

• Errors and omissions insurance—This coverage, also known as professional liability insurance, can insulate you from losses and help pay for legal expenses if a client or customer accuses you of providing goods or services that were incorrect, negligent, late or otherwise inadequate.
• Commercial property insurance—This type of insurance may financially protect your business’s physical assets, including equipment, buildings, tools, electronics, inventory and furniture.
• General liability insurance—This part of your insurance portfolio may help pay for losses arising from the bodily injuries or property damage of third parties, such as customers and passersby, for which your business is at fault.
• Workers’ compensation insurance—Legally required in many cases, this coverage may help pay for medical expenses, lost wages, disability benefits and legal costs if your employees are injured or develop an illness on the job.
• Business interruption insurance—If a covered incident delays or disrupts your business’s normal operations, this types of insurance may compensate you for ongoing expenses and losses, such as loan payments, payroll and reduced revenue.
• Commercial auto insurance—This coverage may financially protect your company from incidents involving its motor vehicles, including physical damage and liability for others’ losses.
• Cyber liability insurance—This component of your insurance portfolio may help pay for losses and expenses following a data breach or other cyber incident, including the cost of notifying affected parties, paying fines and settlements, and retaining legal aid.
• Commercial umbrella insurance—This type of insurance acts as a secondary form of liability coverage if other policies’ limits are exceeded, which may be necessary given the value of property you are entrusted with securing and, therefore, the potential consequences of an error for which you are at fault. 

 

Get the Right Coverage

An inherent part of being an Alarm Contractor is ensuring you can protect your clients’ properties. By working with Bone Robertson & McBride, Inc. your business can be more financially secure while providing services and having appropriate protection in place in the event of an unfortunate incident. Contact us today for a free quote.

 

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