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Locksmith insurance

tailored to your business needs

Get locksmith insurance designed to cover your business’s risks through the specialists at Darwin Clayton. To discuss your business’s insurance needs or to get a locksmith insurance quote, call us on 01892 511 144 or follow the links below.

Why get locksmith insurance through Darwin Clayton?

Darwin Clayton works with the Master Locksmith Association (MLA) and this helps us to understand the risks posed to locksmiths. We have a deep understanding of your industry, and by partnering with us, you will also benefit from the following:

As you can see from the following client testimonial, your business insurance is in excellent hands with Darwin Clayton

“Darwin Clayton have been my insurance brokers for many years now and I have found them to be prompt and attentive. They display a high level of expertise, knowledge and professionalism in all our dealings with them.”
Rob Eyden
Eydens Limited

What is locksmith insurance?

Locksmith insurance offers financial protection against any losses your business incurs through its day-to-day operations.  The exact level of protection will be dependent on things like the services your business provides and whether you have any employees. However, standard covers include:

What does locksmith insurance cover?

As a locksmith, you are in a position of responsibility in helping to secure commercial and residential properties. If something should go wrong, you could be liable for compromising the safety of the building, its contents, and its residents.  It is therefore vital to have the right insurance in place. 

At Darwin Clayton, we understand your needs, and can help you arrange a policy to protect your business. Some of the standard covers that can be included on a locksmith insurance quote are:

Public liability for locksmiths provides protection when you or your employees are held liable for accidents that caused injury to your clients, customers, or the public, or if their property was damaged because of your business activities. 

If the products you supply to customers cause damage or injury, you could be held liable in the event of the claim. 

As an employer, you are responsible for the health and safety of your employees whilst at work. Employers’ liability insurance (EL insurance as it’s also known) of £5m is a legal requirement if you have any staff. Businesses that hire people without having this insurance cover can face fines of up to £2,500 for each day they are uninsured. If your employee is injured or becomes ill because of the work they do for you and they bring a claim for compensation against your business, you will be protected.

This cover protects your business against loss of money, stock, or property owing to a dishonest or fraudulent act by an employee.

If you’re entrusted with a client’s keys, and you lose them, this will cover the cost of replacing the keys and a change of locks if necessary.

Financial loss insurance covers your business against losses which you become legally liable to pay as compensation, plus costs and expenses for accidental financial loss where no damage has occurred.

As with any insurance policy there are terms and exclusions, we will discuss this with you during the quotation process.

Are there any optional covers for locksmith insurance?

Given the specific work that you do and your working environment, there might be a need to include some optional covers to your locksmith insurance quote. Some of these options include:

If you offer any design, consultancy or advisory services or advice on products, then professional indemnity insurance – or PI insurance – is important for protecting your business. 
Professional indemnity insurance protects you against claims for loss or damage made by clients or third parties of negligent advice you offered.  This cover is often a contractual requirement with your customers, even when you do not provide any consultancy or advice. 

Covers your office contents, computer equipment, trade plant and machinery, stock, and buildings 

Covers financial losses following an incident such as fire or flood, protecting your business should you incur additional costs to continue trading to your previous level.

This covers the value of the work being carried out prior to completion of the contract.  It insures works against accidental loss, damage, or destruction.

Covers damage to plant and tools that you own whilst at the contract site, in transit or at your premises. 

This covers damage to plant hired in by you whilst at the contract site, in transit or at your premises.

This covers physical loss or damage to tools belonging to employees, principals, partners, or directors within territorial limits.

Typically covers financial loss caused by theft or physical attack, providing protection for money while in transit or on the business’s premises. This cover helps in situations where theft, robbery, or violent attacks occur, offering compensation for losses incurred during these events.

This covers the value of your goods in transit to your customer’s premises.

This covers physical loss or damage to specified plant, equipment, or stock anywhere in the UK. 

With the many risks faced by businesses, seeking legal advice and formulating legal documents, such as employment contracts, can be time-consuming and expensive when the services of solicitors and other legal experts are engaged. Legal expenses cover not only offers the services of legal representation but also provides free legal advice on a range of legal problems and access to a suite of helpful documents.

This cover will protect your business from losses and damage resulting from acts of terrorism.

Does Darwin Clayton offer any additional policies to protect your locksmith business?

Your insurance solution may require additional covers depending on the nature of your work. Additional options include:

The UK has observed a significant rise in cyber-attacks, as highlighted by the 2023 Cyber Security Breaches Survey conducted for the UK Government, revealing that 59% of medium-sized organisations reported experiencing a cyber security breach or attack within the past 12 months.  As this threat rises, getting a cyber insurance quote becomes more important for a modern business.

Also known as directors & officers or D&O insurance. This covers the cost of any compensation claims made against your directors, officers, or high-ranking management for alleged wrongful acts. Claims could be made by disgruntled employees, clients, investors, stakeholders, and even regulators and could involve civil, criminal, or regulatory proceedings. A management liability policy can also cover any legal costs that arise for directors in defending their case.

This insurance cover includes three core elements: 

  • A separate cover for your computer equipment
  • Contractor’s plant covers your machinery such as a cherry picker or MEWP
  • As your equipment should be inspected regularly, this policy covers you for statutory inspection service

This cover offers you a loss adjuster to work on your behalf to investigate and present your property and business interruption claim to the insurer. This cover can be invaluable if your business suffers a serious loss following a flood or fire. 

If one of your employees has an accident, and it leads to temporary or permanent disablement, or even death, a benefit payment will be made. Business travel can also be added to this cover.  

  • Motor fleet insurance covers your multiple vehicles on a single policy. It can be a mix of vehicles, including vans, cars, and trucks.
  • Uninsured loss recovery insurance pays for a solicitor to pursue a guilty third party for recovery of your uninsured losses such as policy excess, hire vehicle charge, loss of earnings; as well as costs to pursue a personal injury claim
  • GAP insurance will cover the outstanding balance of a finance or lease agreement on your motor vehicle following its write-off or up to 25% of the write-off value.

If a customer fails to pay you for services or products, whether it’s due to insolvency, refusal, or inability to pay, credit insurance will indemnify your losses. The insurance will also provide insights into customers credit ratings and what limits of credits to offer. 

Performance bonds are a type of surety bond and are written promises to pay for direct loss of damage suffered by third party as a result of a breach of contract. Performance bonds are typically issued for 10% of contract value and are common with construction projects to protect the employer against the contractor failing.

Locksmith insurance FAQs

It’s important to get the right insurance for your locksmiths. To help you do that, here are our locksmith insurance frequently asked questions. We hope they are helpful, but if you’d like any advice, please call us on 01892 511 144. Our experienced team of insurance professionals are here to help.

If you have employees, you will need at least £5m of employers’ liability insurance – that is a legal requirement.

Your specific insurance needs may vary depending on the services your business offers and your clients’ needs. Some of the typical covers we arrange are public liability, employers’ liability, product liability, and business interruption insurance.

Because accidents happen. Accidental damage to a client’s property, injury to a third party, stolen or damaged equipment and other unexpected events could cause your business to lose money, result in lost business opportunities, or affect your business’s operations. A good locksmith insurance policy provides cover should these situations arise, protecting your business from legal and financial liabilities.

Getting a quote is easy. You can call us on 01892 511 144, and our team of professional advisors will help you find the protection you need. We understand your industry, and we will work with you to arrange insurance cover to suit your business’s requirements.

That will depend on the level of protection your business requires, your annual wages and turnover, what equipment you have, your claims history, etc. If you would like to get a locksmith insurance quote, call us on 01892 511 144 or start your quote here.

Like some locksmith insurance help?

If you’d like some help with your locksmith insurance, please give us a call on 01892 511 144. Our friendly team of insurance advisors will be happy to help you get the protection you need and offer you a locksmith insurance quote.