Best Business Insurance for Security Guards in 2025 (Top 10 Companies)

Discover the top pick for the best business insurance for security guards with Travelers, known for offering affordable coverage rates tailored specifically for security guard businesses. Benefit from customizable policies and expert support, allowing you to focus on your security operations while knowing your business is well-protected.

With rates starting at $150 per month, Travelers stands out among the top three providers, including USAA and Progressive, providing comprehensive coverage and significant discounts of up to 20%. Safeguard your security guard business effectively and affordably with Travelers, ensuring peace of mind for both you and your clients.

Our Top 10 Company Picks: Best Business Insurance for Security Guards

Explore the tailored solutions designed to meet the unique needs of security guard operations today. Enter your ZIP code above to get started on comparing business insurance quotes.

#1 – Travelers: Top Overall Pick

Pros

• Accident Forgiveness: Travelers offers a significant advantage with accident forgiveness, providing peace of mind to security guard businesses.
• Up to 15% Multi-Policy Discount: Travelers insurance review & ratings highlights businesses can benefit from substantial savings by bundling multiple policies with Travelers.
• Up to 35% Low-Mileage Discount: Security guard companies with limited mileage can enjoy remarkable discounts, enhancing cost-effectiveness.

Cons

• Limited Online Convenience: While Travelers excels in discounts, the online convenience may not match the standards set by some competitors.
• Specialized Military Savings Missing: Unlike some competitors, Travelers doesn’t offer specific military savings, potentially impacting attractiveness for security guard businesses with military personnel.

#2 – USAA: Best for Military Savings

Pros

• Military Savings: USAA stands out with exclusive military savings, making it an ideal choice for security guard businesses with military personnel.
• Up to 5% Multi-Policy Discount: USAA insurance review & ratings boasts additional savings by bundling policies with USAA.
• Up to 35% Low-Mileage Discount: USAA offers competitive low-mileage discounts, aligning with the needs of security guard companies.

Cons

• Limited Availability: USAA is exclusively available to military members and their families, limiting accessibility for other security guard businesses.
• Fewer General Discounts: While excelling in military savings, USAA may offer fewer general discounts compared to some competitors.

#3 – Progressive: Best for Online Convenience

Pros

• Online Convenience: Progressive insurance review & ratings spotlights seamless online convenience to modern businesses streamlining insurance processes for security guard companies.
• Up to 5% Multi-Policy Discount: Progressive provides additional savings for businesses bundling multiple policies.
• Up to 30% Low-Mileage Discount: Security guard companies benefit from competitive low-mileage discounts, promoting cost efficiency.

Cons

• Limited Local Agent Presence: While online convenience is a strength, Progressive may lack the localized support of agents that some security guard businesses prefer.
• No Special Military Savings: Progressive doesn’t offer specific military savings, potentially making it less appealing for security guard businesses with military personnel.

#4 – State Farm: Best for Discount Variety

Pros

• Many Discounts: State Farm insurance review & ratings features a plethora of discounts, offering flexibility for security guard businesses to optimize their insurance costs.
• Up to 17% Multi-Policy Discount: Bundling policies with State Farm unlocks substantial savings, enhancing overall affordability.
• Up to 30% Low-Mileage Discount: Security guard companies with low mileage benefit from generous discounts, aligning with their operational needs.

Cons

• Online Convenience: State Farm’s online platform may not be as intuitive as some competitors, impacting the convenience for tech-savvy businesses.
• Fewer Policy Options: While offering discounts, State Farm may have fewer policy options compared to some competitors, limiting customization.

#5 – Nationwide: Best for Usage Discount

Pros

• Usage Discount: Nationwide caters to security guard businesses with a usage-based discount, ensuring cost efficiency based on operational needs.
• Up to 20% Multi-Policy Discount: Bundling policies with Nationwide unlocks significant savings, promoting affordability.
• Up to 24% Low-Mileage Discount: Security guard companies benefit from competitive low-mileage discounts, aligning with their operational patterns.

Cons

• Limited Local Agent Presence: Nationwide’s local agent support may not be as extensive as some competitors, impacting businesses that value localized assistance. Discover additional details by exploring our “Nationwide Insurance Review & Ratings“.
• Specialized Military Savings Missing: Nationwide doesn’t offer specific military savings, potentially making it less appealing for businesses with military personnel.

#6 – Farmers: Best for Local Agent Networks

Pros

• Local Agents: Farmers provides a strength with a network of local agents, offering personalized support to security guard businesses.
• Up to 5% Multi-Policy Discount: Businesses can enjoy additional savings by bundling policies with Farmers.
• Up to 10% Low-Mileage Discount: Farmers insurance review & ratings boasts that security guard companies benefit from competitive low-mileage discounts, promoting cost efficiency.

Cons

• Limited Online Convenience: While Farmers excels in local support, its online platform may not be as user-friendly as some competitors.
• Specialized Military Savings Missing: Farmers doesn’t offer specific military savings, potentially impacting attractiveness for security guard businesses with military personnel.

#7 – Chubb: Best for Policy Options Specialization

Pros

• Policy Options: Chubb offers a diverse range of policy options, allowing security guard businesses to tailor coverage to their specific needs. Discover more information on our “Chubb Insurance Review & Ratings“.
• Up to 5% Multi-Policy Discount: Bundling policies with Chubb unlocks additional savings, promoting cost efficiency.
• Up to 20% Low-Mileage Discount: Security guard companies benefit from competitive low-mileage discounts, aligning with their operational patterns.

Cons

• Limited Online Convenience: Chubb’s online platform may not be as streamlined as some competitors, impacting the convenience for businesses prioritizing online interactions.
• Specialized Military Savings Missing: Chubb doesn’t offer specific military savings, potentially making it less appealing for businesses with military personnel.

#8 – Allstate: Best for Add-on Coverages

Pros

• Add-on Coverages: Allstate insurance review & ratings highlights excellency in offering a variety of add-on coverages, allowing security guard businesses to enhance their protection.
• Up to 25% Multi-Policy Discount: Bundling policies with Allstate unlocks substantial savings, promoting overall affordability.
• Up to 35% Low-Mileage Discount: Security guard companies benefit from competitive low-mileage discounts, aligning with their operational patterns.

Cons

• Higher Base Prices: While offering discounts, Allstate’s base prices may be higher than some competitors, impacting businesses with budget constraints.
• Specialized Military Savings Missing: Allstate doesn’t offer specific military savings, potentially making it less appealing for businesses with military personnel.

#9 – Liberty Mutual: Best for Customizable Policies

Pros

• Customizable Policies: Liberty mutual review & ratings spotlights standing out with customizable policies, allowing security guard businesses to tailor coverage according to their specific requirements.
• Up to 5% Multi-Policy Discount: Businesses can enjoy additional savings by bundling policies with Liberty Mutual.
• Up to 15% Low-Mileage Discount: Security guard companies benefit from competitive low-mileage discounts, aligning with their operational patterns.

Cons

• Limited Online Convenience: While offering customizable policies, Liberty Mutual’s online platform may not be as user-friendly as some competitors.
• Specialized Military Savings Missing: Liberty Mutual doesn’t offer specific military savings, potentially impacting attractiveness for businesses with military personnel.

#10 – The Hartford: Best for Deductible Reduction Specialization

Pros

• Deductible Reduction: The Hartford provides a unique advantage with deductible reduction, offering cost savings in the event of a claim.
• Up to 5% Multi-Policy Discount: Businesses can enjoy additional savings by bundling policies with The Hartford.
• Up to 20% Low-Mileage Discount: Security guard companies benefit from competitive low-mileage discounts, promoting cost efficiency.

Cons

• Limited Online Convenience: While excelling in deductible reduction, The Hartford’s online platform may not be as streamlined as some competitors. Explore further insights on our “Hartford Insurance Review & Ratings“.
• Specialized Military Savings Missing: The Hartford doesn’t offer specific military savings, potentially making it less appealing for businesses with military personnel.

Protecting Security Guard Companies With the Right Coverage

Safeguarding your company against potential risks is paramount. Explore the key insurance policies that every security business should consider to protect against liabilities, property damage, employee injuries, and cyber threats:

• General Liability Insurance: General liability insurance covers basic third-party risks, including bodily injury and client property damage. It is advisable to bundle this coverage with commercial property insurance for additional savings.
• Business Owner’s Policy (BOP): A business owner’s policy combines general liability coverage and commercial property insurance at a discounted rate. It offers protection against common lawsuits and property damage.
• Workers’ Compensation Insurance: Most states require workers’ compensation insurance for security guard and patrol companies that have employees. It not only fulfills legal obligations but also safeguards self-employed security guards from work-related injury costs that may be denied by health insurance. Know more information on our “Best Health Insurance For Security Officers“.
• Professional Liability Insurance: Also known as errors and omissions insurance (E&O), covers legal costs when a security guard is sued for a mistake or oversight that results in financial harm. It provides essential protection against potential lawsuits.
• Commercial Auto Insurance: Commercial auto insurance covers financial losses in the event of accidents involving vehicles owned by your security business. In many states, business auto insurance is mandatory for company-owned vehicles.
• Cyber Liability Insurance: Given the increasing prevalence of data breaches and cyberattacks, cyber liability insurance is highly recommended for security guard companies that handle sensitive information. It provides coverage for recovery and associated costs in the event of a cybersecurity incident.

Ensuring comprehensive insurance coverage is not just about meeting legal requirements; it’s about safeguarding your security company’s future.

How does insurance work? Insurance is a contract that transfers the risk of financial loss from an individual or business to an insurance company. By investing in the right insurance policies, you can mitigate risks, protect your assets, and maintain peace of mind as you focus on providing top-notch security services.

Key Factors Influencing Insurance Costs for Security Guard Companies

What is premium in an insurance? Do you pay a premium every month? An insurance premium is the amount you pay each month (or each year) to keep your insurance policy active. Your premium amount is determined by many factors, including risk, coverage amount and more – depending on the type of insurance you have. This does not apply to all types of insurance.

To determine what is cost of insurance, this is influenced by various factors. Firstly, the size of the business plays a significant role. Smaller security firms generally tend to pay less for insurance compared to larger enterprises due to lower risk exposure. Explore our “How does the insurance company determine my premium?” for more insights.

Best Business Insurance for Security Guards

Additionally, the number of employees can impact insurance costs. Companies with a larger workforce may face higher insurance expenses due to increased liability risks. Furthermore, the coverage options chosen by a security guard company can affect insurance premiums directly. The types and extent of coverage selected will impact the cost of insurance.

Lastly, the geographic location of the business can also influence insurance costs. Different regions may have varying regulatory environments and crime rates, which can impact insurance pricing. It is important for security guard companies to evaluate these factors and work closely with insurance providers to understand how they contribute to insurance costs or what is insurance paid for.

A Guide to Securing Insurance Coverage for Security Guard Companies

Obtaining business insurance for your security guard company is a relatively simple process. Here’s a general overview of how you can obtain the right coverage:

1. Gather necessary business information. Before applying for insurance, ensure you have the relevant business details readily available, such as revenue and the number of employees.
2. Research insurance providers. Explore reputable insurance providers that offer coverage for security guard businesses. Consider their reputation, customer reviews, and the range of insurance products they offer.
3. Obtain quotes and compare coverage. Request insurance quotes from multiple providers and compare coverage options, exclusions, deductibles, and premiums offered. What is the limit and deductible in insurance? Your deductible is the amount you pay out-of-pocket before your policy takes effect. However, every policy type only covers up to a certain amount, known as a limit.
4. Purchase the insurance policy. Once you have decided on the insurance provider and coverage, complete the necessary paperwork, make the required payments, and obtain your insurance policy. Ensure you fully understand the terms and conditions before finalizing the purchase.
5. Obtain a certificate of insurance. After purchasing the insurance policy, request a certificate of insurance from your provider. This document serves as proof of insurance coverage and may be required when working with clients or for legal purposes.

By following these steps, you can confidently navigate the process of obtaining business insurance for your security guard company. Remember, investing in the right coverage is an investment in the long-term stability and security of your business.

Don’t hesitate to reach out to insurance professionals for guidance, and ensure you regularly review and update your coverage to align with the evolving needs of your company.

Business Insurance for Security Guards: Real-life Examples of Insurance Utilization in the Security Guard Industry

In the security guard industry, having comprehensive insurance coverage is crucial to mitigate risks and protect businesses from potential liabilities. Below are real-life case studies showcasing how different types of insurance have been utilized by security guard companies in various situations.

• Case Study #1 – General Liability Insurance: A security guard damages artwork while on duty. General liability insurance covers repair costs and protects the company from potential lawsuits.
• Case Study #2 – Workers’ Compensation Insurance: A security guard slips and falls while patrolling, resulting in injuries. Workers’ compensation insurance provides medical treatment and compensation for lost wages.
• Case Study #3 – Professional Liability Insurance: An oversight by a security guard causes financial loss for an event organizer. Professional liability insurance covers legal costs and damages, safeguarding the company’s reputation.
• Case Study #4 – Commercial Auto Insurance: A security guard vehicle is involved in a collision. Commercial auto insurance handles repair costs and compensates for third-party injuries, minimizing financial losses.

These case studies underscore the importance of having adequate insurance coverage tailored to the needs of security guard businesses. Whether it’s general liability, workers’ compensation, professional liability, or commercial auto insurance, comprehensive coverage ensures to mitigates risks.

It also ensures the smooth functioning and reputation of security guard companies in the face of unexpected incidents. By understanding these real-life examples, businesses can make informed decisions to protect themselves and their employees effectively.

In Summary: Protect Your Security Guard Business with Comprehensive Insurance

In conclusion, securing comprehensive insurance coverage is crucial for protecting your security guard business. What is insurance in business? Business insurance can help protect business owners and independent professionals against everyday risks, such as mistakes, stock or premises damage, and legal costs. Some policies can even protect against business interruption and supply chain breakdown.

General liability, workers’ compensation, professional liability, commercial auto, and cyber liability insurance are key types of coverage to consider.

By comparing rates from reputable providers, you can find the best coverage options to ensure financial security, client confidence, and a strong professional reputation. Take proactive steps now to safeguard your business and enjoy a secure and successful future.

Our free comparison tool makes it easy to stick to your business insurance budget – enter your ZIP code below to get started.