Insurance Discounts You Didn’t Know You Could Get with Better Security
Cameras, alarms, and access controls pay for themselves and reduce risk.
Running any business comes with plenty of risks. Tool and Equipment theft, property damage, or liability claims, to name a few. You need insurance coverage, but did you know improved security can lower your premiums? Here are a few things to keep in mind to protect your business AND save money.
How Insurance Companies View Security - Insurers see customers with proper security as lower risk. As a lower risk partner, they often reward you with discounts on things like:
- General Liability Insurance
- Commercial Property Insurance
- Equipment and tool coverage, and in some cases
- Workers comp premiums
What Upgrades Can Lower Your Rates - Some investments that can qualify for discounts include:
- Security Cameras and Surveillance Systems
- Visible cameras deter crime as well as provide evidence if one occurs
- Access Control
- Limiting who can enter your business and where they can go reduces liability and theft risk
- Secure Storage for Tools, Supplies and Equipment
- Locking cabinets, cages, and tool rooms safeguard expensive items. Pair with access control for extra security.
Getting Your Discount - The process is never exactly the same, but here are some key steps:
- Talk to your Agent : Discounts are often not applied automatically. Talk to your insurance provider to see what improvements they recommend to get the most bang for your buck.
- Document Everything: Keep records of installed cameras, access controls, and cybersecurity protocols
- Bundling : Flo isn't the only one who knows about bundling. Check with your carrier to see if they provide bigger discounts when you have multiple items (property, liability, auto) protected by your enhanced security
Other Benefits - Investing in security doesn't just get you better premiums:
- Fewer breakins/thefts
- Safer work environment for your team
- Better customer trust
- Your piece of mind
Key Takeaways: Improving your security isn't just nice to have, it is a way to reduce your operating costs. Better security protects your bottom line in more ways than one — and your premium is just the start. Even a few targeted upgrades can make a noticeable difference on your insurance bill.
If you would like to schedule a FREE 1 Hr consultation to discuss how Finger Lakes Work Place can help your business with physical security and more, use this link to pick a time convenient for you to set up a meeting
Cheers!
Aaron
