How much does security guard insurance cost in 2026?
By Steve Neudegg ACII, Chartered Insurance Broker, Senior Account Manager at BJP Insurance Brokers
One of the most common questions I am asked by security companies is: “How much does security guard insurance cost?”
The honest answer is that there is no one-size-fits-all price. In my experience, the cost of security guard insurance can vary significantly depending on the services you provide, the contracts you undertake, the size of your workforce, and the level of protection your business requires.
Having worked with security businesses for many years, I have seen how the right insurance can protect companies from potentially serious financial losses, while the wrong cover can leave significant gaps in protection. In this guide, I explain the main factors that affect the cost of security guard insurance and what security businesses should consider when arranging cover.
What is Security Guard Insurance?
Security guard insurance is a specialist business insurance policy that protects security professionals and security companies against the risks they face while carrying out their duties including static guarding, mobile patrols, keyholding, and protecting people and property. It typically provides cover for claims arising from injury to members of the public, property damage, employee accidents, wrongful arrest, loss of keys and the failure to secure/protect at premises.
Security guard insurance can also include employers’ liability, financial loss protection, professional indemnity, and fidelity cover for theft or dishonesty by employees. By having the right security guard insurance in place, security businesses can operate with confidence, meet contractual requirements, and protect themselves from potentially costly legal and compensation claims.
Key Factors that Affect the Cost of Security Guard Insurance
When insurers calculate the cost of security guard insurance, they assess a range of factors to determine the level of risk your business presents. In my experience working with security companies, these are some of the key areas they typically consider:
- The type of security services you provide, as some activities, such as event security or work at Licensed Premises, may be considered higher risk than others.
- The number of security personnel you deploy, as a larger workforce can increase the likelihood of incidents or claims and some insurers rate it per employee, some on Turnover and its important to choose the right cover for your circumstances.
- Your annual turnover, which can indicate the size and scope of your operations – this is your total annual contract value, not profit
- Your claims history as businesses with previous claims, or a large number of claims, may be viewed as presenting a greater insurance risk.
- The location in which your guards operate, as certain environments may be viewed as carrying a higher level of risk
In addition, insurers often assess your experience within the security industry, the length of time your business has been trading, the training and qualifications held by your staff, and the risk management procedures you have in place. Businesses with a strong track record and well-trained personnel may be in a stronger position when seeking competitive security guard insurance premiums. To find out how these factors could affect your quote, get in touch with our team today on 0345 365 2121 or email[email protected].
How the Level of Cover Affects the Cost of Security Guard Insurance
One of the biggest influences on insurance cost is the level of cover a business chooses to purchase. While it may be tempting to focus solely on finding the lowest premium, I often advise clients to consider the potential cost of being underinsured.
Most security businesses require core covers such as Public Liability Insurance and Employers’ Liability Insurance. However, many firms also add specialist protection to cover the specific risks they face. This can include Wrongful Arrest Cover, Loss of Keys Cover, Financial Loss Cover, Fidelity Guarantee Insurance, Professional Indemnity and Efficacy and Contractual Liability Insurance.
It’s also important to consider what isn’t included in a policy. Some insurers restrict certain activities or exclude important covers, such as efficacy and inefficacy protection or Criminal/Deliberate Acts of Employees. While these policies may appear cheaper, they could leave your business exposed if a claim arises.
When comparing quotes, it’s important to look beyond the price alone. Choosing the right level of cover can help protect your business against costly claims, meet contractual requirements, and provide peace of mind that you’re properly insured for the work you carry out.
How to Manage and Reduce the Cost of Your Insurance
Over the years, I have found that the most effective way to control insurance costs is not necessarily to buy less cover, but to make sure you are purchasing the right cover for your business.
Security companies face unique risks and many of the claims I have encountered involve circumstances that would not be covered by a standard liability policy.
One of the best ways to manage costs is to work with a specialist insurance broker who understands the security sector. A specialist broker can help ensure you only pay for the cover you need while identifying important protections that should not be overlooked. This can be particularly beneficial for businesses involved in activities such as keyholding, mobile patrols, alarm response, or security dog handling.
It’s also worth considering the value of additional covers such as Efficacy and Contractual Liability, Wrongful Arrest, Loss of Keys, professional indemnity and Fidelity Guarantee Insurance. These extensions do not tend to increase your premiums by much and they can provide vital protection against some of the most common and expensive claims faced by security companies.
Rather than focusing solely on finding the cheapest quote, businesses should aim to secure the right level of protection for their operations. The right policy can help minimise long-term costs by reducing the financial impact of claims and ensuring your business remains protected as it grows. With access to specialist security insurance markets and over 20 years of experience in the sector, BJP Insurance Brokers can help you find comprehensive cover that delivers value without compromising on protection.
Common Mistakes That Can Increase Costs
When reviewing security insurance arrangements, I often see businesses making avoidable mistakes that can lead to higher premiums, coverage issues or complications when claims occur.
One of the most common issues is failing to notify insurers when business activities change. A company might move into door supervision, events or higher-risk location contracts without updating its insurer, which can affect both pricing and more importantly your cover. Some insurers do not cover all exposures, so its important you speak to your broker.
I also encourage businesses to maintain detailed training records, incident reports, patrol logs, risk assessments and notify your broker of any indicate that may give rise to a claim as soon as possible. Not only can this help demonstrate strong risk management practices, but it can also support your position if a claim is made.
Another mistake is leaving insurance reviews until renewal time. Regular reviews throughout the year can help ensure your cover continues to reflect your business as it grows and evolves.
Speak to BJP about Security Guard Insurance
BJP Insurance Brokers can arrange tailored insurance for security guarding companies and other businesses operating across the security sector.
For advice, contact BJP Insurance Brokers on 0345 365 2121 or speak to our team Steve Neudegg ACII, Simon Lawrence ACII or Antony Samuel-Camps DIP CII.
You can also read more about BJP’s specialist cover for security businesses on our Security Guard Insurance and Security Insurance pages.
About the author
Steve Neudegg, ACII Chartered Insurance Broker
Senior Account Manager, BJP Insurance Brokers
Steve Neudegg is a Chartered Insurance Broker and Senior Account Manager at BJP Insurance Brokers, specialising in insurance for the security sector.
Steve has worked with BJP Insurance Brokers since April 2010 and has extensive experience arranging insurance for businesses across the security industry, including intruder and fire alarms, CCTV, access control, fire protection, key holding, alarm response, facilities management, door supervision, static and manned guarding, event stewarding, close protection, security dog handling and detection dog handling.
Steve works closely with security sector leaders to maintain detailed industry knowledge and provide practical, relevant advice to security businesses. He has delivered presentations to ACS members for the SIA and NASDU members, BJP is one of the Founder Members of the International Professional Security Association, and Steve sits on the Committee Board of the British Standards Institute, contributing to key industry standards including BS758, BS7499/10800, BS7894 and BS8517.