What Kind of Insurance Do I Need for a Locksmith Business?
- Nate Jones, CPCU, ARM, CLCS, AU
- Nov 11
- 2 min read
Running a locksmith business involves more than providing lock and key services—it also means managing risks. From property damage to liability claims, unexpected events can disrupt operations and impact profitability.
Having the right insurance coverage ensures your business stays protected and compliant with client requirements.
Why Locksmith Insurance Is Essential
Locksmiths face unique risks, including:
Accidental damage to customer property during service
Injuries to employees or clients
Theft or loss of expensive tools and equipment
Auto accidents during mobile service calls
Without proper coverage, these incidents can lead to costly lawsuits or financial setbacks.
Essential Insurance Policies for Locksmith Businesses
Protects against third-party claims for bodily injury or property damage. For example:
A customer gets injured during a lock installation
Damage occurs while working on a door or security system
Covers your physical assets, including:
Office or shop space
Inventory and supplies
Tools and equipment stored on-site
Locksmith tools are expensive and essential for operations. Equipment insurance covers:
Key cutting machines
Lock picks and programming devices
Repair or replacement costs after theft or damage
Required in most states, this policy protects employees by covering:
Medical expenses for workplace injuries
Lost wages during recovery
If you use vehicles for mobile locksmith services, commercial auto insurance covers:
Accidents involving company vehicles
Property damage and liability claims
How Much Does Locksmith Insurance Cost?
Annual premiums typically range from $500 to $3,000, depending on:
Business size
Coverage limits
Number of employees and vehicles
Why Choose Wexford Insurance?
At Wexford Insurance, we specialize in locksmith and trade business coverage. Our team understands the operational and liability risks unique to your industry and provides:
Customized insurance programs
Competitive rates
Expert guidance on compliance and risk management
Final Thoughts
Insurance isn’t just a safety net—it’s a business necessity. From liability protection to equipment coverage, the right policies keep your locksmith business secure and credible. Wexford Insurance helps you find comprehensive coverage so you can focus on growing your business.
Contact us today.
