As a business owner, you might be willing to take a risk on insurance through purchasing bare bones cover that’ll just about get you by. However, any business owner who’s had his or her premises targeted by thieves or vandals in the past will know that more robust insurance policies have their uses.
If your business is located in a burglary hotspot you could be facing a huge insurance premium, even if your current record is spotless. Acclaimed Security operates in Leeds and West Yorkshire, an area of the country with one of the highest crime rates. We’re security experts, and we know every neighbourhood of Leeds like the back of our hand. Many companies come to us because their current security solutions are out-of-date, and often failing to prevent intruders from accessing their property. Even if cutting insurance premiums isn’t the main goal of your security update, you might find that it’s a welcome side effect.
Insurers expect businesses to guarantee that their premises meet certain security requirements. We’ve spoken before about the nature of these requirements. Overall, they are fairly basic – in all likelihood, you’ll already have them in place anyway. Still, some insurers won’t even consider letting you take out cover with them if you fail to meet a single one of these requirements. Your premises should update these security measures when they fail or break, as an insurer is unlikely to accept your claim if they discover that your locks were inadequate to begin with.
If you’ve had to claim on your insurance in the past, you’ll surely see that your premium increases when your cover needs renewing. Even if you were just unlucky or made an honest mistake, in the insurer’s eyes your card is marked. Given the likelihood of repeat burglaries, it’s no surprise that they’re unwilling to be quite so generous with your premium as they were in the first instance. Similarly, when the insurance company reviews which postcodes have seen the highest number of claims, they’ll be likely to adjust next year’s premium accordingly – so your neighbours’ slack security could eventually lead to higher insurance costs for you.
Cutting your premium
The basic security requirements given by your insurer are unlikely to protect your property from intruders. Any additional security measures will reduce your premium, depending on your insurer. The savings may be small, but the additional security solutions will significantly reduce the chance of your property being targeted by thieves. If you don’t feel that your insurance company is giving you enough credit for your premises’ security, shop around for a better deal.
Acclaimed Security can work with you to create a set of security solutions that are perfect for your business, taking into account local threats, the nature of your business and your security budget. We’re SIA accredited for manned guarding, keyholding and alarmed response – showing that we deliver trusted, professional services that can protect your business from intruders. We’d love to speak with you to discuss your requirements, cut your insurance premiums and give you the confidence to forge ahead with your business plan.