Security business insurance costs vary based on coverage type, helping you budget effectively for your needs. MoneyGeek's analysis shows monthly premiums range from $52 for workers' compensation to $206 for a business owner's policy (BOP).
How Much Does Security Business Insurance Cost?
Security business insurance costs as little as $52 per month, but your specific business details and coverage needs will determine your actual rate.
Discover cheap security business insurance below.
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Updated: August 18, 2025
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Key Takeaways
Security business insurance costs range from $52 to $206 monthly, varying by coverage type from basic workers' compensation to comprehensive business owner's policies.
Your security insurance premiums depend on location, claims history, property types serviced and employee count.
Shop multiple insurers, bundle policies, increase deductibles and pay annually to find affordable security business insurance costs.
Average Security Business Insurance Cost Overall
| BOP | $206 |
| General Liability | $140 |
| Professional Liability (E&O) | $100 |
| Workers' Comp | $52 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Security Business Insurance Cost for General Liability Coverage by State
Your security business insurance cost for general liability coverage depends on where you operate. Maine offers the most savings at $121 monthly (versus the $140 national average), while New York costs $163 monthly, giving you concrete data to factor into your business planning.
| Alabama | $135 |
| Alaska | $141 |
| Arizona | $133 |
| Arkansas | $134 |
| California | $156 |
| Colorado | $139 |
| Connecticut | $152 |
| Delaware | $148 |
| Florida | $151 |
| Georgia | $142 |
| Hawaii | $142 |
| Idaho | $133 |
| Illinois | $153 |
| Indiana | $136 |
| Iowa | $133 |
| Kansas | $136 |
| Kentucky | $130 |
| Louisiana | $154 |
| Maine | $121 |
| Maryland | $133 |
| Massachusetts | $147 |
| Michigan | $132 |
| Minnesota | $131 |
| Mississippi | $140 |
| Missouri | $136 |
| Montana | $139 |
| Nebraska | $132 |
| Nevada | $159 |
| New Hampshire | $139 |
| New Jersey | $158 |
| New Mexico | $141 |
| New York | $163 |
| North Carolina | $121 |
| North Dakota | $122 |
| Ohio | $130 |
| Oklahoma | $128 |
| Oregon | $130 |
| Pennsylvania | $162 |
| Rhode Island | $154 |
| South Carolina | $144 |
| South Dakota | $131 |
| Tennessee | $136 |
| Texas | $141 |
| Utah | $133 |
| Vermont | $134 |
| Virginia | $127 |
| Washington | $159 |
| West Virginia | $147 |
| Wisconsin | $137 |
| Wyoming | $129 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Security Business Insurance Cost for Workers’ Compensation Coverage by State
Your security business cost for workers' compensation varies by state. Maine offers the lowest rates at $45 monthly and New York the highest at $61 monthly. Our analysis reveals how state regulations and claim histories create these differences.
| Alabama | $51 |
| Alaska | $47 |
| Arizona | $50 |
| Arkansas | $50 |
| California | $58 |
| Colorado | $51 |
| Connecticut | $57 |
| Delaware | $56 |
| Florida | $57 |
| Georgia | $53 |
| Hawaii | $55 |
| Idaho | $49 |
| Illinois | $57 |
| Indiana | $50 |
| Iowa | $50 |
| Kansas | $50 |
| Kentucky | $49 |
| Louisiana | $60 |
| Maine | $45 |
| Maryland | $50 |
| Massachusetts | $55 |
| Michigan | $49 |
| Minnesota | $49 |
| Mississippi | $53 |
| Missouri | $52 |
| Montana | $52 |
| Nebraska | $50 |
| Nevada | $60 |
| New Hampshire | $52 |
| New Jersey | $59 |
| New Mexico | $53 |
| New York | $61 |
| North Carolina | $45 |
| Oklahoma | $49 |
| Oregon | $48 |
| Pennsylvania | $60 |
| Rhode Island | $57 |
| South Carolina | $53 |
| South Dakota | $49 |
| Tennessee | $51 |
| Texas | $52 |
| Utah | $50 |
| Vermont | $50 |
| Virginia | $47 |
| West Virginia | $55 |
| Wisconsin | $51 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Workers' compensation requirements vary by state and are mandated by state regulations. Survey results reflect limited sample data and may not represent all available rates in your area.
Security Business Insurance Cost for Professional Liability Coverage by State
Like other types of coverage, your cost for professional liability varies by state. The national average for security businesses is $100 monthly. North Carolina offers the lowest rates at $85 monthly, while E&O (errors and omissions) insurance in New York costs $115 monthly.
| Alabama | $98 |
| Alaska | $91 |
| Arizona | $94 |
| Arkansas | $96 |
| California | $112 |
| Colorado | $99 |
| Connecticut | $109 |
| Delaware | $107 |
| Florida | $110 |
| Georgia | $100 |
| Hawaii | $108 |
| Idaho | $94 |
| Illinois | $107 |
| Indiana | $98 |
| Iowa | $94 |
| Kansas | $98 |
| Kentucky | $91 |
| Louisiana | $113 |
| Maine | $87 |
| Maryland | $96 |
| Massachusetts | $105 |
| Michigan | $95 |
| Minnesota | $94 |
| Mississippi | $101 |
| Missouri | $101 |
| Montana | $97 |
| Nebraska | $96 |
| Nevada | $113 |
| New Hampshire | $97 |
| New Jersey | $113 |
| New Mexico | $101 |
| New York | $115 |
| North Carolina | $85 |
| North Dakota | $88 |
| Ohio | $92 |
| Oklahoma | $93 |
| Oregon | $91 |
| Pennsylvania | $113 |
| Rhode Island | $112 |
| South Carolina | $101 |
| South Dakota | $93 |
| Tennessee | $98 |
| Texas | $100 |
| Utah | $94 |
| Vermont | $98 |
| Virginia | $90 |
| Washington | $114 |
| West Virginia | $105 |
| Wisconsin | $98 |
| Wyoming | $93 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Security Business Insurance Cost for BOP Coverage by State
Business owner's policy rates vary widely for security businesses across states. Monthly premiums range from $178 in North Dakota to $241 in New York.
| Alabama | $201 |
| Alaska | $209 |
| Arizona | $197 |
| Arkansas | $203 |
| California | $227 |
| Colorado | $204 |
| Connecticut | $223 |
| Delaware | $220 |
| Florida | $223 |
| Georgia | $210 |
| Hawaii | $209 |
| Idaho | $197 |
| Illinois | $233 |
| Indiana | $201 |
| Iowa | $194 |
| Kansas | $204 |
| Kentucky | $191 |
| Louisiana | $230 |
| Maine | $181 |
| Maryland | $192 |
| Massachusetts | $216 |
| Michigan | $191 |
| Minnesota | $194 |
| Mississippi | $204 |
| Missouri | $203 |
| Montana | $207 |
| Nebraska | $194 |
| Nevada | $237 |
| New Hampshire | $205 |
| New Jersey | $233 |
| New Mexico | $207 |
| New York | $241 |
| North Carolina | $179 |
| North Dakota | $178 |
| Ohio | $193 |
| Oklahoma | $190 |
| Oregon | $190 |
| Pennsylvania | $239 |
| Rhode Island | $235 |
| South Carolina | $213 |
| South Dakota | $190 |
| Tennessee | $201 |
| Texas | $209 |
| Utah | $196 |
| Vermont | $198 |
| Virginia | $189 |
| Washington | $231 |
| West Virginia | $214 |
| Wisconsin | $199 |
| Wyoming | $192 |
How did we determine these rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP coverage. Survey results reflect limited sample data and may not represent all available rates in your area.
Factors Affecting Security Business Insurance Cost
Insurance costs for your security business are based on several factors that affect your premium rates. Understanding these elements helps with budget planning. We detail these factors below.
Geographic location
Your business location affects workers' compensation rates due to local regulations and claim frequencies. Operating in high-crime areas increases your risk profile, and state differences create substantial premium variations.
Safety record and claims history
Previous claims impact future premiums, sometimes for three to five years. A single liability lawsuit can substantially increase your general liability rates at renewal.
Types of properties serviced
High-value properties and locations with restricted access require more comprehensive security coverage. Banks and government facilities carry higher liability risks than standard office buildings, directly impacting insurance costs.
Employee count and payroll
Insurers calculate workers' comp premiums based on your total payroll and job classifications. Adding security personnel increases your payroll costs, directly impacting your workers' compensation premiums since insurers calculate your rates per dollar of wages paid.
Services offered
Armed security services carry higher insurance costs than unarmed guard services. Event security, VIP protection, and surveillance monitoring each present unique risk profiles that affect premium calculations.
Business size and revenue
Higher annual revenue typically means higher premiums since insurers view larger operations as having greater exposure to claims. A small security firm with two guards faces lower premiums than a company employing 50 officers across multiple locations.
Coverage limits
Higher coverage limits provide better protection but cost more monthly. Choosing between different coverage amounts directly affects your premium, with higher limits increasing costs proportionally.
Equipment and vehicle values
Security vehicles, surveillance equipment and communication systems require specific coverage based on their value. Companies using advanced security technology and patrol vehicles need higher coverage limits than those providing basic guard services.
Credit score and financial stability
In most states, insurers can consider your business credit score when setting rates. A strong credit score can reduce premiums, while poor credit often increases costs substantially.
How to Get Cheap Security Business Insurance
Smart shopping and improved business practices can lower your security business insurance costs, and these proven strategies will help reduce your premiums both now and in the future.
- 1
Choose the right coverage types for your business
Understanding what types of business insurance your security company needs prevents overpaying for unnecessary coverage. Security businesses typically require general liability insurance for client injuries, professional liability for service errors, and workers compensation for employees. Commercial auto coverage is essential if your team uses vehicles for patrols.
- 2
Shop multiple insurance companies
Insurance rates can vary significantly between providers for identical coverage. Compare quotes from at least three insurers to find the best rates. Consider working with an independent agent who can efficiently shop multiple carriers for you.
- 3
Bundle your coverage types
Insurance providers offer substantial discounts for bundled policies. Combining general liability, professional liability and commercial auto insurance with one carrier typically costs less than separate policies from different insurers.
- 4
Increase your deductibles
Choosing higher deductibles reduces your monthly premiums. This means you'll pay more out-of-pocket when filing a claim, but your regular insurance costs will be lower. Consider your business cash flow when selecting deductible amounts.
- 5
Pay annually instead of monthly
Monthly payment processing fees can add up quickly. Paying your premium annually often eliminates these fees and may qualify you for additional discounts. Some insurers offer savings of up to 10% for annual payments.
- 6
Review and adjust your coverage annually
Your insurance needs change as your security business grows. Review your policy annually to ensure coverage matches your current operations. Drop unnecessary coverage and adjust limits based on your business size and services offered.
Insurance for Security Business Cost: Bottom Line
Security business insurance costs range from $52 to $206 monthly, with your location, claims history and business size driving your actual premium. Getting quotes from multiple insurers, bundling your policies, choosing higher deductibles and paying annually instead of monthly helps you find more affordable rates.
Security Business Insurance Cost: FAQ
Business owners have many questions about security company insurance costs, and we've compiled straightforward answers to the most common concerns below.
What is the cheapest type of security business insurance?
Workers' compensation insurance costs $52 monthly for security businesses. However, most Security companies need general liability insurance ($140 monthly) to protect against customer injuries and property damage claims.
How much can I save by bundling my security business insurance policies?
Bundling business insurance policies offers the most cost-effective solution. Insurance companies provide discounts when you combine multiple coverages like general liability, commercial property and auto insurance.
What factors make my security business insurance more expensive?
Factors that can make security business insurance more expensive include the location of the business, services offered and how many employees there are.
Workers comp is the most budget-friendly option at $52 per month. General liability insurance is $140 per month. This basic coverage protects against common risks like customer injuries and property damage.
Should I choose a $500 or $2,500 deductible for my security business insurance?
A higher deductible ($2,500) reduces monthly premiums but requires more out-of-pocket costs when filing claims. Consider your business's cash reserves and claim frequency when deciding.
How much does workers' compensation cost for security businesses by state?
Monthly workers' compensation costs for security businesses range from $45 in Maine to $61 in New York. Rates vary by location, helping companies plan their insurance expenses accordingly.
Is business owner's policy (BOP) worth the extra cost for security companies?
BOP insurance for security companies costs $206 monthly on average and bundles essential coverage types into one policy. This combined package offers more value than purchasing individual policies separately.
How often should I shop around for security business insurance quotes?
Shop annually during renewal time and compare at least three insurance providers. This practice helps secure better rates, particularly if your business has grown or changed.
How We Determined Security Business Insurance Costs
We collected security business insurance quotes from companies across different states. To make sure we compared apples to apples, every quote used the same business setup:
- Two employees (three people total, including the owner)
- $150,000 annual payroll
- $300,000 annual revenue
- Already insured status
- $1 million per occurrence and $2 million total per year for all coverage except BOP, which includes the same limits plus $5,000 business property coverage
This profile represents small security businesses requiring comprehensive insurance coverage in most states. We chose companies offering broad national coverage and online quote capabilities, focusing on insurers that actively serve the security industry.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.