Yes, job site surveillance can lower construction insurance costs by reducing risk and providing verifiable evidence of safety and security. Construction sites can be vulnerable to theft, tampering and lawsuits. Job site surveillance can help mitigate these risks.
- Lowering Premiums:
- Many insurers offer direct discounts or "endorsements" for implementing approved security measures, such as 24/7 camera systems.
- One restaurant group reportedly reduced its annual insurance premium by 29%(saving $300,000) after installing live monitoring.
- Reduced Risk Profile:
- Surveillance acts as a deterrent for theft and vandalism, leading to fewer claims.
- Fewer claims over time improve a contractor’s Experience Modification Rate (EMR), which can lower workers' compensation and general liability premiums by 25–30%.
- Enhanced Claim Resolution:
- 4k High-definition video provides indisputable evidence for accidents or property damage.
- This clarity helps insurers determine fault quickly, reducing legal fees and defeating fraudulent claims.
- Common Insurer Requirements:
- To qualify for discounts, ask your carrier what there specific requirements are and have them work with your surveillance provider to maximize benefits.
Reach out to us a Kharma for more information about your specific needs at 888-271-5999.