Most licensing boards require a business with employees to maintain a locksmith contractors’ workers’ comp policy before issuing a license to begin operations.

Locksmiths’ workers’ comp insurance will financially protect employees that get injured or become ill from a job-related incident.

Most states require that locksmith contractors get bonded before they can begin operating their businesses.

The locksmith contractors’ surety bond provides a financial guarantee to your customers that you will complete the job according to your bid and subcontractors or vendors paid upon completion.

Vehicles used for business operations, including transporting tools and equipment, need locksmith contractors’ commercial auto and truck insurance for the appropriate protection if damaged in an accident, stolen, or vandalized.

Most locksmith commercial auto policies will provide up to $1 million combined single limits.

Also referred to as locksmith contractors’ inland marine insurance, a locksmiths’ tool and equipment policy will reimburse you and your business if your covered property is damaged or stolen at the job site, in transit, or while in storage.