The key security measures which can help you save on business insurance
Installing fire safety and security alarms involves weighing the costs of installing and maintaining the systems against the risk of the costs you face if fire, theft or damage occurs. However, you can also factor into the decision, how much you could save on business insurance if you install good fire safety and security measures. In fact, in certain postcodes, some insurance providers will only cover you if you have a burglar alarm installed. Of course the premium is affected by many factors such as your location, nature of your property and risk levels. But in general, a carefully planned and well-integrated security and fire safety system is what insurers like to see.
As a general guide, installing appropriate burglar and fire alarm systems can result in insurance discounts ranging from 5% to 20%.
Here are the key security and fire safety measures that can affect your insurance costs.
If you do not have a monitored security system in your home or business, adding one will almost certainly help with insurance costs. Professionally monitored burglar alarm systems in particular may qualify your home or business for an insurance discount. Most insurers demand that the security cameras and alarms should be connected to a central system that offers 24/7 professional monitoring. In the event of emergencies, operators can contact first responders which will help to reduce your losses.
Security / CCTV cameras
Having security cameras or CCTV systems can lower insurance, depending on multiple factors such as the camera type and the insurance companies you choose.
In addition, in the unfortunate case that your home or business was burglarized, security cameras can provide hard evidence to prove your insurance claim legitimate.
Integrated alarm systems installed by accredited professionals
In general, a carefully planned, professionally installed and well-integrated security system will help to reduce your insurance costs more effectively. Your insurance provider may want proof that your alarm has been certified by the National Security Inspectorate (NSI) or the Security Systems & Alarm Inspection Boards (SSAIB), so you should consider having your alarm installed by a certified professional. Here at Waldon Security we are certified by the SSAIB.
Fitting the right locks
The more secure the lock, the better it will be regarded by insurance providers. A five lever mortice lock (locks embedded into the edge of the door rather than attached to the surface of the door) are usually required for exterior doors, and most insurance companies insist that your exterior locks conform to the correct British Standard (BS 3621).
Some of the most secure locks include multi-point locking systems, in particular SS312 Diamond approved cylinders, which are usually found on uPVC and composite doors. Multi-point locks have a minimum of three locking points that all lock at the same time when you turn the key. For example, a door could lock at key level and bolt the door into the frame at the top and the bottom. If you have sliding patio doors, you may need to install an anti-lift patio lock for increased security to stop the door being lifted off the rails.
Night latches (locks mounted on the surface of the door, instead of being morticed into to the edge of the door) are frequently used, but some insurance providers may prefer that you use them in conjunction with either a five lever mortice lock or a multi-point locking system.
Sliding bolts are often used at the top or bottom of doors to provide additional security and in fact when used on interior doors as well as exterior doors, these can often be particularly tricky for burglars to get through.
Keeping your staff safe
If you are protecting a business or have employees working in your home, adding optional security for your staff reduces risk of liability claims and therefore adds the likelihood of insurance discounts.
By taking on fire protection policies and products (over and above the statutory minimum safety measures which are required if you are a business), you can receive insurance premiums at a much lower cost than if you were to avoid these products altogether.
Having the right alarms, such as smoke and carbon monoxide detectors is helpful. Ensuring you have the right fire safety equipment is important too, however, it is important to ensure that equipment is serviced and in full working order, something that can be checked and carried out by professional companies such as ourselves.
Here at Waldon Security we provide a range of services which can help to save on your business insurance premiums and we can also offer a free initial consultation. For more information call us on 01726 65636 or email us at email@example.com