4 Ways Your Security System Will Save You Money

A professionally-installed security system has more benefits than meets the eye. While it obviously protects your business, additional areas where the system can add value shouldn’t be overlooked.

1 – A Security System Can Reduce Insurance Costs

According to CommercialInsurance.Net, installing an alarm system is one of the most prudent measures a business owner can take. It lowers a business’ risk exposure, it will help reduce claims. It is worth noting that many business insurance policies require an alarm system to be connected to a 24-hour central monitoring station in order for the business to get a discount.

2 – Surveillance Footage Can Be Used to Check Slip and Fall Claims

4 Ways Your Security System Will Save You Money

According to BusinessInsurance.com, the family entertainment restaurant chain Chuck E. Cheese’s reduced claims costs by $600,000 from 2009-2012 by installing security cameras throughout each of its 510 company-owned stores. “We’ve made a number of claims literally vanish once we produce the video footage to show that what the claimant says, whether it’s an employee or a guest, … didn’t really happen,” said Jeff Strege, the company’s director of risk management.

In the same article, Christopher Flatt, Marsh Inc.’s head of Worker’s Compensation Center of Excellence, emphasized the importance of security cameras to monitor workplace safety. “The added benefit is having tape of potential injuries or claimed injuries and being able to validate them,” Flatt said.

3 – Safer/More Effective Option Than Armed Guards

According to Security Magazine, the risks of hiring armed officers are difficult to justify in many business settings. Insurance providers charge higher rates to businesses that employ armed officers. Now, obviously, there are certain extenuating circumstances that warrant an armed officer (banks, federal buildings, etc.), and insurance companies understand that.

In retail situations, insurers believe the “show-of-force” presented by an armed security officer can actually be counterproductive. Instead of providing protection, it actually increases the business’ hazards and possibility of a claim. Video surveillance systems and access control systems simply provide a lower-profile deterrent than an armed security officer without compromising security.

4 – Footage Can Be Used to Increase In-Store Efficiency

Not only does a professionally installed, comprehensive security system give a business owner peace of mind, it can increase the efficiency of your business while simultaneously gathering valuable data.

Business owners are beginning to look at video footage of customer activity in order to increase efficiency. According to Security Magazine, some of the newest video-related tools to be explored are related to movement within a store and not associated to suspicious behavior. While in the past business owners used to only be concerned with loitering and suspicious activity, owners are now using video footage see how often and for how long people observe particular displays. It can also be used to increase the efficiency of the flow of walking traffic throughout the store. By gathering this type of data, a retailer can have a plethora of tools at their disposal. You could use it to come up with better signage, or even to re-configure in-store traffic patterns.

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