Manhattan is New York’s most famous borough. Drawing in thousands of tourists every day and housing so many homes and businesses alike, it’s hardly surprising that Manhattan’s security needs are some of the most complex in the world. As locksmiths, we understand the importance of making sure you’re properly covered – not just physically, but also in terms of your insurance policy. To find out how insurance and locksmith services are connected, keep reading.
What do home insurance companies require from you?
There are many different types of home insurance, which offer financial protection from a variety of threats, from fire to floods to theft. In New York City, a lot of policies are particularly careful when it comes to theft and vandalism, as these are unfortunately not uncommon in the area. Beware that some houses will also need a specialized insurance plan, which may differ in price and have different requirements to the average property in Manhattan.
But insurance will not cover you if they have reason to believe that you are not upholding your end of the bargain by keeping the property secure. Most home insurance policies will actually state what type of lock they require as the minimum standard for security in order to cover you. For example, a mortise lock or multi-point locking system is considered a stronger and more tamper-proof lock than a simple cylinder, which can be vulnerable to lock snapping.
Even if the insurance company does not specify the lock type they require, they may still void your insurance if they have reason to believe that you were not careful enough with your security needs when you suffered the break-in – for example, if you left your door unlocked when you were out.
How we can help you cut costs when it comes to home insurance
Unfortunately, the cost of home insurance mostly relies on fixed factors, which are not in your control. But one of the few things you can do to cut costs is maintain a high-standard security system. The annual premium for homeowner’s insurance can go down by around 5% a year with proper security – an amount which may seem modest, but certainly adds up, especially for larger properties or more expensive policies.
A comprehensive security system will mean sophisticated and highly secure locks are attached to all potential entry points, as well as the installation of a burglar alarm which is linked to the local police station.
Remember, improving your security is also a valuable investment because it helps you to prevent run-ins with home insurance companies in the first place. Thieves will typically prefer to stick to the simplest and most straightforward homes to rob, which will take little time to infiltrate and minimize their risk of being caught. The sight of a camera or a deadbolt lock on the front door is often already enough to deter them.
What about businesses?
Managers of businesses and commercial enterprises are considered as responsible for maintaining security in their places of work as homeowners are for their houses and apartments. You need to make sure that your specific security needs are met – and remember that this will change according to the type of business you run. Always carefully check your insurance policy to understand what is required of you.
Will locksmith services be covered by home insurance?
In various cases, yes. In particular, when your problem is directly caused by theft, a policy that covers you for break-ins will typically pay for any related expenses. For example, if your lock has been damaged during a break-in, or your keys or safe stolen, you may expect to be compensated.
However, most other services – such as installation, upgrades, and lockouts, which comprise a large percentage of the services we perform daily  – will not be covered on most insurance policies. It’s important to find a locksmith which fits your budget and needs ahead of time, so as not to find yourself high and dry in a lock-related emergency.
