Cost of Risk
Workers Comp = 1
General Liability = 0.5
Cost of Risk is the amount of insurance that you are paying for each dollar that you spend in payroll for General Liability and Workers’ Compensation insurance.
Insurance costs can vary significantly based on factors such as the specific services provided (e.g., armed vs. unarmed guards), the location of operations, the number of employees, and the company’s claims history.
It’s essential to consult with an insurance professional to obtain accurate quotes tailored to your security guard business’s unique circumstances.