Small businesses have to ruthlessly scrutinize every item in the budget. Security might not feel like an absolute necessity, but it is worthwhile not to overlook its value. Many businesses find themselves asking “How much is TOO much?”
At minimum, any business will need door locks and whatever fire equipment is necessary to meet the area’s codes. Beyond that, it’s a simple matter of cost-benefit analysis.
First, consider the costs of a break-in. What would thieves target and be most likely to damage or make off with? Statistics collected by The Insurance Journal suggest that the average cost of a business burglary is about $8,000, but that can vary greatly depending on what’s in the facility and what thieves might damage in order to get it.
When considering costs, don’t forget potential damage to the company’s reputation and losses due to civil suits and fines. For example, if sensitive personal information about customers or employees is on computer hardware that is stolen, this could lead to a lawsuit, or even fines under data breach laws.
Your insurance may cover some of these costs, but how much exactly? And do you get some sort of substantial discount on your premiums if you have a certain level of security coverage installed?
That should give you a “back of the napkin” idea of what the potential costs are, minus any savings you might see from the insurance company. Now, the big question is — what will a security system cost you?
That depends a lot on your individual circumstances as well like how big your facility is, exactly what components you’ll need, and so on. But you’ll probably be surprised at how relatively affordable the cost is, especially when you measure it against the insurance savings and heading off potential catastrophic losses.
If you’re in the Orlando area, Millennium Fire & Security is happy to provide you with a free quote at no obligation. But to give you a rough idea of what to expect, generally the largest expense is the one-time payment up front for the hardware. Our approach is to stock high-quality and reliable fully certified hardware that will last for years without replacement or maintenance needs.
Once you’ve got the hardware situated, the other expenses are quite minimal when stacked up next to the potential savings they offer. We take pride in offering the area’s most competitive installation and activation costs for the level of experienced service that we provide.
After installation and activation are taken care of, all that’s left is a relatively minimal monthly monitoring cost. This is often more than offset by the insurance savings alone.
It’s rare to see a business that doesn’t have at least some sort of camera and alarm system these days; that’s because it just makes sound financial sense to have them. Any questions about what components you should have or what the installation process will be like? We’re happy to answer. You can reach us at 407-253-7373 during business hours or fill out our contact form anytime.