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(New Business) open my own security, fire and burglar alarm company


jfenix1348's Avatar
Member

Join Date: Sep 2014
Posts: 3
NY

09-14-14, 07:27 PM   #1 (permalink)  
(New Business) open my own security, fire and burglar alarm company

So how does this go? Do I first get an insurance, then register my company name and sign with a vendor so I can start bidding on jobs or would any of you kind people point me to another direction. I'll appreciate any advice. I'm new at this and a little desperate right now.

 
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PJmax's Avatar
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Join Date: Oct 2012
Posts: 38,884
NJ

09-14-14, 07:40 PM   #2 (permalink)  
Before you do anything.... check with your insurance agent. There are an extremely limited amount of companies that are underwriting insurance for security companies. There are only two in NJ that I know of and the cost of premiums is sky high. You have to realize that in this business you are responsible for people's lives and their valuables.

The company that I'm with has a 1 million dollar general coverage with a 3 million dollar aggregate coverage and an additional 5 million dollar umbrella policy required by many businesses.

We do a lot of commercial fire alarm systems.

If you've never installed systems before you may be better off starting with a local alarm company. Learn the ropes.

 
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