Why is specialist insurance for alarm installers so important?

Without the right insurance, you could be one bad installation away from bankruptcy.

If you’re a professional alarm installer, securing the appropriate insurance is a critical necessity to safeguard both yourself and your business. It guarantees your protection, offering you peace of mind in the event of unexpected mishaps or setbacks so you can focus on delivering for your clients.

So, if your days are filled with jobs like setting up bespoke home security systems, installing alarms for other businesses, or devising intricate security for entertainment venues, it’s vital to consider bespoke alarm installers insurance for protection in case of unexpected incidents. As an Alarm Installer, you constantly handle diverse assignments.

At Alarminsure we take pride in providing some of the most comprehensive policy choices available.

We know that it is important for installers involved in performance-critical activities like installing alarms and security systems to have efficacy insurance (sometimes called inefficacy or failure to perform insurance) which is why we offer efficacy insurance as standard with our specialist security insurance. This is a requirement of the leading industry inspectorate bodies and therefore critical for you to have, if you want to join their membership.

Given the importance of trade association membership we offer all members discounted. We strongly believe that being a member of an inspectorate body and undergoing a third party accreditation process, means you meet the highest standards of workmanship which deserves a reduction on your premium.

Despite your best efforts accidents will happen, which if left uninsured could result in a claim being made against you and if it was successful, you could be left with a large bill to cover.

We know that buying insurance can be confusing and stressful which is why we aim to take away the stress and make the process as smooth as possible, we will give you advice so you don’t have to work out what cover you need or how much, we’ll give you a comprehensive and clearly written policy wording and documents, we will support you if and when you need to make a claim.

I am an Alarm (& Security) Installer, how do I know what cover I need?

If you’re an alarm installer, determining the right insurance cover for your business involves several steps to assess your specific risks and needs. Here’s a quick list to help you identify the insurance cover you need:

What Are Your Business Activities: Who are your clients, what do they do, what services do you deliver for them and where do you deliver them? Thinking about this and being able to tell your insurance broker will help them assess the risks you face.

Regulatory Requirements: Do you need a minimum level of cover to meet the requirements of an industry regulator or contractual requirements? If you do, your broker can advise around the complexities of this including the minimum level of cover you need.

Risk Assessment: List any potential risks and liabilities associated with your business activities. Think about scenarios where things could go wrong, such as accidents during installations, system malfunctions, or property damage.

Claims History: If you’ve had claims in the past, you’ll need to share the details of these with your broker so it’s helpful to have this information ready including any steps taken to reduce the risk of similar claims happening again.

It is useful to remember that your insurance needs will evolve, so it’s crucial to keep an ongoing dialogue with your insurance broker to adapt your coverage as your business grows. This is especially important if you add a new service or diversify activities during the policy year.

What are the risks I could face as an alarm installer?

Alarm installers, like any business, face various risks that can affect their operations, finances, and reputation. Understanding these risks is essential for taking proactive measures and obtaining the right insurance coverage. Here are some common risks you might face:

Accidents and Injuries: During installation or maintenance work, there’s a risk of accidents leading to bodily injuries to you, your employees, or third parties. This can result from falls, equipment malfunctions, or other on-site hazards. (Employers or Public Liability)

System Malfunctions: Alarm systems can sometimes malfunction or fail to perform as intended. If a client experiences a break-in or security breach due to a system issue, you may be liable for financial losses or damages. (Efficacy Insurance)

There are lots of things that you can do to mitigate these risks; implement safety protocols, provide employee training, maintain clear contracts and documentation, and invest in appropriate insurance cover. Your insurance provider should be able to advise on mitigation as well as appropriate covers.

What insurance do I need to be a member of an Inspectorate Body?

There is no question that membership of a trade organisation can provide you with added protection and build credibility with clients. Efficacy insurance is an essential insurance cover if you want to be a member of the leading inspectorate bodies in the UK.

With over 30 years of experience meeting the unique insurance needs of alarm installers, we at Alarminsure understand the critical elements that should be included in your policy. We recognise the significance of efficacy insurance, which safeguards you if an alarm system does not work as intended.

We are among a few brokers offering efficacy insurance as a standard feature within our specialist security insurance policy.

For full membership requirements and benefits, speak to your chosen inspectorate body.

How much cover do I need as an alarm installer?

To protect your business comprehensively you will need a range of insurance covers from Employers Liability and Public Liability to Professional Indemnity and Efficacy insurance.

Getting the right type of insurance can be tricky, especially depending on the types of work you do. You don’t want to pay for coverage you don’t need, but you also don’t want to be underinsured when you need it most. There might also be contractual requirements to have a certain level of insurance cover to work with clients, this is common with local authority or large corporate contracts.

The easiest way to get to the answer is to get in touch with Alarminsure and one of the team will give you a call to discuss your business and the cover you need; you’ll receive our professional advice so we can build the right insurance program for you.

Summary

Securing the right type of insurance is important for everyone, but it can be especially tricky for people who work in certain professions. If you’re not sure what type of insurance you need or how much coverage you should have, it’s a good idea to talk to an insurance broker.

How do I get a quote for alarm installers insurance?

We’d love to help you get the right cover for your business, the best way to get a quote is to complete the enquiry form on our website or give us a call on 0800 071 0999 or email us at info@alarminsure.com and one of the team will help you.