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Alarm & CCTV Installer Insurance: Cost & Quotes From $11

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During your work as an alarm & CCTV installer, you could cause an injury or property damage. As a prudent technician, take out alarm & CCTV installer insurance to protect yourself from the heavy cost of claims.

 

Alarm and CCTV insurance is a tailored coverage for alarm installers and CCTV installers. There are many insurance policies included.  And so, you might have difficulties understanding it. 

 

Here’s a guide that will help. In this discussion, know about the functions of different policies included in alarm and CCTV installer insurance. Additionally, you’ll know about the cost and the best companies for getting insured. 

What Does Alarm & CCTV Installer Insurance Cover?

Alarm and CCTV installer business insurance is not an insurance category by itself, but rather a collection of covers tailored for alarm and CCTV installation technicians and businesses. Protection begins with general liability insurance. Having general liability coverage is required of alarm and CCTV installers in most states.


General Liability Insurance (GLI)

General liability insurance is an extensive type of insurance that covers you or your business against third-party claims resulting from:

  • Bodily injury: CCTV and alarm installation insurance having general liability coverage protects you when a third party is injured. For example, if they trip on cables or a toolbox, the cover pays their medical bills

  • Property damage - General liability included in alarm installers insurance should also protect against unintended damage to a client's property, e.g., damaged ceiling, electronics, furniture, among others

  • Personal and advertising injury - This is an infringement on the rights, privacy, reputation, or copyrights. For example, if you post a picture of a client's house without permission

  • Products and completed operations coverage - General liability coverage in alarm company insurance protects you against problems arising from work completed in the past. For example, a faulty alarm or CCTV system that is later recalled

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Consider Getting More Business Insurance Policies for the Best Protection 

Only having general liability doesn’t provide the comprehensive protection you need as an alarm and CCTV technician or alarm and CCTV installation service business owner.

 

There are other insurance policies you need to get. If you’re willing to invest more on premiums, consider adding:

  • Tools and equipment insurance

  • Loss of income coverage

  • Commercial auto insurance

  • Professional liability insurance

  • Workers compensation insurance

  • Employer’s liability insurance

  • Employment practices liability insurance 

  • Equipment in transit insurance

  • Commercial property insurance

 

Professional Liability Insurance

Workplace mistakes can happen and cause economic or financial losses to third parties, particularly clients. General liability only covers personal injury claims and property damage claims. It doesn’t cover claims filed because of acts constituting errors and omissions. And so, consider getting professional liability insurance. 


Professional liability insurance offers $1 million - $2 million you can use to pay for lawyer fees, other legal costs, and settlements. It covers the following:

  • Inaccurate advice - You told the client that a particular CCTV camera brand works best for their needs. However, it turned out that the opposite is true. The camera you suggested overheated quickly and can’t even capture video property. And so, the client had to replace the CCTV camera installed. The client then filed a claim and ask for payment because your advice did more harm than good

  • Negligence - A school district’s alarm suddenly burned. Upon investigation, it turned out that the alarm was improperly installed. The school district then filed a claim asking for reimbursement for what it spent to reverse the damage and replace the defective alarm

  • Violation of good faith -  It was stated in the contract that you’ll have to install the CCTV camera of a particular brand. However, you didn’t follow the terms and decided to install the CCTV of another brand. Upon knowing about this, the client sued you for breach of contract and demanded payment


Most CCTV and alarm installation technicians decide to get general liability and professional liability. It’s because having general liability and professional liability insurance offers the best protection against third-party claims. 


Commercial Auto Insurance

If you’re a CCTV and alarm technician working independently, cover the vehicle you’re using for work with commercial auto insurance. Using commercial auto insurance is better than personal auto insurance. For one, rates are cheaper. Also, protection is more comprehensive. 


The first protection commercial auto insurance offers is auto liability coverage. While going to work or heading home after work, you might cause an accident and injure third parties or damage property, auto liability insurance covers such a situation and ensures you don’t use personal money to shoulder claims. Particularly, commercial auto insurance will pay for defense costs and settlements. 


The second protection is called physical damage coverage. Physical damage coverage in commercial auto insurance can be categorized into two types - collision and comprehensive. Collision physical damage coverage covers parts repair or replacement if the following happens:

  • You were driving on the road. Visibility is very poor and you rammed another vehicle by accident

  • You were driving on the road. Visibility is very poor and you rammed a post, a fire hydrant, or any other stationary object


Note that collision coverage may or may provide coverage if you drive under influence and cause an accident. Only the insurance company knows whether or not DUI incidents are covered by its collision coverage. 


Comprehensive physical damage covers incidents excluded in collision insurance. In a nutshell, it covers parts repair or replacement if your car got damaged because of fire, extreme weather, theft, vandalism, and other named perils


Now let’s say you’re running a CCTV and alarm installation business having multiple cars. Will insuring each vehicle using separate commercial auto policies be the best course of action? The answer is no. If you want to insure multiple vehicles. Consider getting commercial fleet insurance. 


Commercial fleet insurance’s function is the same as commercial auto insurance. The only thing that makes it different is that you can insure 2 or more vehicles under one roof. Note that commercial fleet insurance is more cost-efficient than buying multiple commercial auto insurance policies to cover different vehicles. 


Tools and Equipment Insurance

Tool theft is so common in alarm and CCTV technicians and businesses, so insurance cover for tools is usually necessary. This is especially important when you have invested in expensive equipment such as probes, drills and screwdrivers, electric saws, and toolboxes.

 

Tools and equipment coverage will also cover you in case your tools are lost or damaged in events such as fire, flooding, etc.

 

If you are holding stock of alarm and CCTV system equipment, you will need insurance for alarm installers that covers your stock as well or take out a separate policy for it.


Equipment in Transit Insurance

Tools and equipment insurance only provides coverage if your work tools and equipment got damaged on site or off site. If CCTV and alarm installation tools and equipment got damaged or lost during travel, tools and equipment coverage can’t help. 


And so consider getting equipment in transit insurance. This coverage covers costs if work tools and equipment got damaged or lost because you got involved in a vehicular accident. 


Commercial Property Insurance 

If you’re running a CCTV and alarm installation business, there’s no way that you don’t own a commercial building. Your commercial building can get damaged because of theft or vandalism. Fire and extreme weather might also completely destroy it. A damaged or destroyed commercial building is a major loss. And so, consider getting commercial property insurance. 


In the event that your commercial building got destroyed because of fire or extreme weather, commercial property insurance will pay for reconstruction. If the building only got damaged, then the policy will pay for repairs. In other words, commercial property insurance sees to it that you don’t use personal or company funds for repair and reconstruction. 


Inside the commercial building are important materials and equipment. You also need to cover these. The policy that provides coverage is business equipment, and stocks and contents insurance. Business equipment insurance reimburses losses if work tools and equipment inside the commercial building were damaged or lost. On the other hand, stocks and contents insurance will cover the items you’re selling to customers - specifically alarms, CCTV cameras, and other related accessories. 


Loss of Income Coverage 

If you’re working as a CCTV and alarm installation technician with no employer, then consider getting loss of income coverage. Loss of income coverage provides an allowance if you get injured and can’t work for a while. The amount you’ll receive is equal to 60% of your average weekly income. 


Workers Compensation Insurance 

What happens when a person working for you gets  injured on the job and can't work for several weeks or months? Workers' comp insurance steps in to cover costs. 

 

It’s easy to understand how workers compensation insurance works . Workers compensation provides money so that you can get an injured employee treated and hospitalized. Furthermore, if the employee needs a break to recuperate, workers compensation provides a weekly allowance to replace some of the income lost. But there’s more. In case the employee dies, workers comp provides death benefits to the deceased’s wife and children. 

 

States require businesses to get workers compensation insurance, except Texas. Depending on your location, you’ll need to purchase the coverage the moment you have one or more employees. 

 

What do you do if no carrier is willing to sell their workers comp insurance to you? If this is the case, contact the workers comp office of the location where your business is and ask if you can qualify for a self-insurance program. 

 

Employer’s Liability Insurance 

Know that, if injured, individuals working for you can file a personal injury lawsuit. Personal injury lawsuits filed by employees fall outside of the scope of general liability insurance, and the coverage that solves this problem instead is employer’s liability insurance. 


Employer’s liability insurance kicks in if a workplace injury happens and a claim is filed on the notion that you’re negligent or failed to provide safe working conditions. Similar to general liability and professional liability, employer’s liability insurance provides money you can use to pay for defense costs and settlements. 


We just want you to know that there’s no need to get employer’s liability insurance if you already have workers compensation insurance. This is because most workers comp laws in the US prohibit an employee from suing an employer that provides workers comp coverage for work-related injuries. 


Employment Practices Liability Insurance

Discrimination, wrongful termination, and sexual harassment are other reasons why people working for you might file a claim. Employer’s liability insurance doesn’t cover these perils.


Employment practices liability insurance covers the exclusions in employer’s liability insurance. You can use this policy to cover defense costs and settlements if a person working for you files a sexual harassment claim, discrimination claim, or wrongful termination claim. 


Business Owner’s Policy for CCTV and Alarm Installation Service Business

Some insurance companies offer commercial property insurance and general liability insurance in a bundle called Business Owner's Policy (BOP) .

 

If you don’t want to talk with an agent, consider getting a business owner’s policy because it already offers two of the most useful policies for your business.

 

Furthermore, a business owner’s policy can be customized. You can decide to endorse one policy to it. For example, CoverWallet’s business owner’s policy can be endorsed with professional liability insurance or commercial auto insurance. 

 

Alarm and CCTV Installer's Bond

As an independent contractor, you have to show proof of surety bond coverage, making you a "bonded " business. A handyman's surety bond is a contractual agreement guaranteeing that you will fulfill your duties and will not be dishonest or steal from your client.

 

Employee theft is common among contractors. If your employee steals jewelry, electronics, or other valuables, your fidelity bond underwriter will reimburse the client for those items up to a certain limit.

 

Your alarm installers insurance or bond also covers the client if, for any reason, you are unable to fulfill your duties satisfactorily.

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Alarm Installer Insurance Cost

Costs that affect the price of alarm and CCTV installer insurance are policy limits, the policies included, location, business history, claims history, and more. But note that the average cost of general liability insurance for alarm and CCTV installers is $30.41 a month or $365 a year for $1 million coverage.

 

One of the easiest ways to determine how much you’ll pay is to look at the average pricing of policies included in CCTV and alarm installer insurance. The table below shows the estimated premiums of some of the policies included:


Cost per Month  Cost per Year Minimum Deductible
General Liability $30.41 $365 $500
Commercial Property
$70.25 $843 $500
Worker's Comp $119.33 $1,432 $500
Tools & Equipment $25 $300 $500
Commercial Auto $43.25 $519 $500

 

Additionally, here’s another table that shows the pricing and the selling points of the recommended companies for alarm and CCTV installer insurance:


Cost per Month Cost per Year Best for
CoverWallet  $30.66 $367.92 Alarm and CCTV installer insurance quotes comparison online
Thimble $47 $564 On-demand alarm installer insurance


How to Choose the Best Alarm & CCTV Insurance Cover?

Insurance can be complex. CCTV & alarm installer insurance policies and costs are often fluid and subject to policy audits at any time.

 

Most policy limits are sufficient to cover damage or injury that you may cause or suffer in the course of your work, but you need to look out for high premiums. We recommend filing for coverage as a corporation or an LLC, which protects your personal assets and lowers premiums.

Compare Cheap Alarm and CCTV Installer Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best CCTV and Alarm Installer Insurance Companies 

Your best bet to find alarm and CCTV insurance is to shop around and look at the offers of different companies. Start your research by reading our review of the best insurance companies for alarm and CCTV installer insurance. 

 

CoverWallet Security Systems Services Insurance


Pros

  • Has an online quotes comparison platform where you can get the offers of different companies and compare pricing

  • Helps you make a smart and informed buying decision

  • Manage policies, get a certificate of insurance, and get insured online

  • Cancel a policy anytime

  • Customer support online or by the phone

  • A partner of top insurance companies such as Progressive, Hiscox, and Liberty Mutual 

Cons

  • Not an insurance company but a broker selling the CCTV and alarm installer insurance of its partners 

 

CoverWallet doesn’t have a tailored insurance product for CCTV and alarm installers. Instead, it offers security systems services insurance which can cover alarm installers, CCTV installers, digital lock installers, and so on. 

 

You have four options to choose from. First, you can decide to be covered with general liability insurance only. This is by far the cheapest option. Second, you can get general liability with commercial property insurance. Third, if you want the most comprehensive protection, the company allows you to bundle commercial property and general liability in a BOP so that you’re qualified to get workers compensation insurance. If the most comprehensive coverage isn’t enough, CoverWallet allows you to get a custom plan where you’re free to choose how many policies to include. 

 

Work with CoverWallet because it offers a lot of perks. Upon getting insured, you can pay premiums, get a certificate of insurance, and manage policies online. Furthermore, you’ll have access to customer support that’s available online or by phone.  CoverWallet even allows you to cancel your coverage anytime. 

 

Best for: Alarm and CCTV installer insurance quotes comparison online

Average cost: $30.66  per month

Our rating: 10/10

 

Thimble Alarm Installer Insurance


Pros

  • Get insured online and get proof of insurance online

  • Short-term CCTV and alarm installer insurance

  • Cheap rates on its short-term insurance

Cons

  • Customer service and claims filing are not available by the phone 

 

Thimble offers alarm installer insurance that primarily includes general liability coverage which can be availed as a long-term policy or as a short-term policy by the hour, day, week, or month. But if the customer wants more protection, the company allows the endorsement of commercial property insurance and business interruption insurance. 

 

Just like CoverWallet, Thimble allows you to get insured and get proof of insurance online. Nonetheless, the best thing about the company is that its short-term insurance might be the cheapest in the United States. 

 

Best for: On-demand alarm installer insurance

Average cost: $47  per month

Our rating: 9/10

 

Avoid Guesswork, Compare Alarm and CCTV Installer Insurance for the Best Coverage 

We bring you a convenient marketplace where you can discover and compare different insurance products from various providers. Click the “Get Quotes” button and use our online quotes generator to look at the offers of different companies, including the ones we reviewed here. By comparing quotes, you’ll know what makes a particular company better or worse than the other. Ultimately, this will help you find the best coverage that fits your needs. 


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