About Active Shooter Insurance: What Options Does Your Workplace Have If the Unthinkable Happens?

February 20, 2020

No employer wants to go into work and think that their workplace could be the victim of an active shooter. Unfortunately, it is a realistic, albeit small, risk. According to the FBI, in 2018, workplace shootings accounted for 16 out of 27 active shooter incidents that year. If employers don’t take substantial measures to protect their workplaces from such an incident occurring or provide reasonable financial aid in the event of a shooting, they risk being held liable for physical and emotional damage.

Active shooter insurance is becoming popular among employers to protect their workplaces and avoid liability. This coverage stands on its own and supplements, rather than replaces, general liability insurance and other policies you may have. Active shooter insurance will cover a wide range of physical and emotional claims after an event takes place. Your current policy will pay to repair the damage to your building. But it will not pay for other expenses that you as an employer may want to pay like grief counseling and funeral expenses, or the cost to redesign a room to help the office move on from the episode. Business interruption costs can also be included which includes expenses and revenue lost that result from not having access to your insured building while repairs are taking place. Finally, the policy might cover rehabilitation or PR costs that help rebuild your company’s reputation after an active shooting takes place within its doors.

There is no flat cost for active shooter insurance policies, and the numbers vary depending on the size of your workplace and the number of assets the policy covers. The Wall Street Journal reports that, in general, premiums can range from $1,800 to around $20 million.

When selecting a policy, watch out for sneaky exclusions that you may not see coming, but can end up hurting you if an event does occur. Many policies exclude domestic violence incidents, for example. And still others might exclude certain types of weapons or will only be applicable if a minimum number of victims are injured or killed. If your workplace is already dealing with a tragic event, the last thing you’ll want to hear is that you have to foot the bills yourself because the event didn’t meet the criteria for coverage. Therefore, read over every policy option carefully and make your insurance agent aware of the needs of your business so they can help you as best they can.

When selecting a policy, watch out for sneaky exclusions that you may not see coming, but can end up hurting you if an event does occur. Many policies exclude domestic violence incidents, for example. And still others might exclude certain types of weapons or will only be applicable if a minimum number of victims are injured or killed. If your workplace is already dealing with a tragic event, the last thing you’ll want to hear is that you have to foot the bills yourself because the event didn’t meet the criteria for coverage. Therefore, read over every policy option carefully and make your insurance agent aware of the needs of your business so they can help you as best they can.

At David G. Sayles Insurance Services, we know that thinking about, and preparing for, the possibility of an active shooter event can be stressful. Our agents will help you every step of the way in deciding a policy that works best for you. Contact us today for more information, and set up a consultation to get started.

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