How to Save on Small Business Insurance with Security Systems

For a small-business owner, security is vital. Not only is a watchful eye important to guard merchandise, but monitoring exits and other parts of the store can save you money as well.

In terms of insurance policies, businesses with a security system installed get some of the best discounts around, ranging from 5 to 20 percent. Having a security system is only one way for small businesses to save money on insurance, but according the Insurance Information Institute, the resulting discount will knock anywhere from 5 to 10 percent off the total liability and property insurance premiums.

Behind the Register

Companies that use cash registers need to be aware of what is happening on both sides of the counter. Having a quality security system in place will deter employees with sticky fingers and give authorities something to work with in case of theft. Insurance companies will specifically ask if this area of the business is being monitored.

Reducing Shoplifting

Other areas with a high amount of risk include the merchandise aisles, warehouse and other places where inventory is stored or displayed.

Installing a high-quality IP camera and complementary public display monitor will not only reduce the cost of insurance, but it will also decrease instances of the five-finger discount by showing potential thieves that they are on camera.

Strategically placed cameras can lower the amount of unsold product that goes out the front door, walks away from the loading dock, or takes a detour through the break room.

Slip-and-Falls

The average cost of slip-and-fall accidents is more than $22,000 per incident. Liability insurance can be overwhelming for small businesses with patrons who come and go, due to the hazard of slip-and-falls and the risk insurer’s face in commercial establishments.

Using security cameras to monitor tile floors and other potentially slippery areas makes it easier to determine whether a claim is legitimate and discern the exact nature of the fall. Similarly, Workers’ Comp covers you against employee injury claims and having video of any incidents will make it easy to support yourself in court.

IP Cameras Work Remotely

For remote monitoring, an IP camera offers portability functions that are not available with traditional CCTV. Not only does this capability satisfy the “offsite monitoring” aspect that insurance companies are looking for, it also means business owners can pop in for a quick look around the office any time, no matter where they’re physically located.

Supercircuits is the best source for security systems and cameras, featuring a full range of cameras designed to be effective and unobtrusive.

Whether a business needs low-profile surveillance cameras or powerful night vision, we have the right product for every application and would be happy to help identify the best solution for any security situation.

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