Liability insurance is an essential part of just about any business. As you can imagine, liability coverage is an extremely crucial consideration, for locksmith companies, as there is always a possibility that you may cause damages to your customers' possessions or cause personal injury while in the course of duty. This article seeks to highlight the importance of public liability insurance for locksmiths.
In regards to the locksmiths employed in your company, chances are that they may equally suffer a mishap at the place of work or whilst out on out-call assignments on the company's behalf with clients. Therefore you run the double risk of facing a workers' compensation claim from your injured locksmith employee or a criminal claim from a third party. A third party involves your customers, suppliers or members of the public. Liability insurance will help you compensate for the injuries suffered by your personnel.
A locksmith is tasked with the responsibility of securing the premises or property of their customer. For example, locksmiths are called in to install new, secure locks in houses. Though admirable, this exposes the workmanship of the locksmith to scrutiny and if the standard of work proves to be insufficient, your clients' homes may be subjected to a series of burglaries and property thefts.
As such, the locksmith may face claims from customers due to his or her shoddy standard of work. Additionally, it's not only the workmanship of the locksmith that is called into question but any professional guidance rendered that is acted upon by customers and proves to be at last detrimental to them as well as the safety of their properties.
Claims that lead to significant sums of money as compensation arise from simple slips and trips. Maybe you accidentally left a tool on the floor and whilst carrying out the job, an innocent passerby stumbles over it. Or you caused damage to your customer's door while re-keying locks for them. Taking all your threat potentials into perspective, public liability coverage appears not as something to be ignored and thought about later, but something to be implemented immediately.
As an expert locksmith who interacts with clients and their premises on a daily basis, there is no simply telling where and when the damages and mishaps might crop up. If you have questions about the kind of liability you should have, talk to other local locksmiths like AXCESS LOCKSMITHS to get an idea of what plan could give you the most coverage.