Locksmiths perform a variety of tasks related to home, business, and vehicle locks and keys. To become a professional locksmith, one must undergo professional and on-the-job training, as well as pass a state exam in order to become certified. Locksmiths can replace or repair locks, cut new keys, install window and other types of locks, and assist with numerous other processes and procedures related to locksmithing tasks. Professional locksmiths should also always carry insurance.
Due to the nature of the work locksmiths perform, insurance is necessary. The following article will explain and go over the three basic types of insurance that locksmiths are to carry when performing any type of services. As a consumer and potentially locksmithing customer, it is important for you to understand why these insurance policies are necessary and how they can help protect you.
General Liability Insurance
The most common type of insurance locksmiths should carry is general liability insurance. This type of insurance covers a variety of potential accidents and mishaps. There are five basic liabilities that this insurance will cover.
Physical Injury
The first category covered by general liability insurance is physical injury. This is to help cover any potential injuries that may occur to the locksmith or those in the vicinity during a locksmithing project or installation. A physical injury could include anything from a cut or scrape, to a broken limb or worse. Physical injury insurance is important to protect you, your employees, and the locksmith themselves from lawsuits or other financial responsibilities related to physical injuries or accidents.
Personal Injury
Personal injury involves issues such as wrongful eviction, slander, copyright and advertising infringements, and more. Any issues related to one’s personal reputation that may ultimately effect business can have costs covered by this type of insurance. Even if slander or other issues may not directly affect one’s business, the personal effects or reputation damages may cause a business to decline. Personal injury overage under general liability insurance can help cover any costs related to personal damages.
Medical Payments
Any medical procedures or evaluations needed due to an injury that occurred as a direct result of a locksmithing project will be covered under this insurance. This is especially important, since a severe injury or death on one’s property could result in bankruptcy or the end of one’s business entirely. Medical coverage ensures that the injured parties are taken care of and any expenses are covered.
Operations and Products
Insurance coverage for any products, equipment, or tools is important. If equipment breaks or winds up missing while a locksmith is working on your property, operations and product coverage can spare the hassle of needing to replace such tools at full price or being blamed for their absence. With the insurance, tools and other items can be replaced and their costs covered.
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