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Locksmith Insurance

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Locksmith insurance

Locksmith business insurance NZ

Locksmith insurance is a specialised package tailored for locksmiths that combines different insurance types to cover potential risks in the locksmith profession. Just like any other profession, locksmithing has its own unique set of challenges and potential liabilities. This insurance is crafted to protect locksmiths against various financial setbacks that could arise from those challenges.

Why is locksmith insurance important? 

Locksmith insurance ensures that in the event of unexpected incidents or liabilities, locksmiths don’t have to bear hefty costs. It provides peace of mind, knowing that potential losses are covered, letting locksmiths focus on their craft.

In New Zealand, the average cost of locksmith only insurance typically ranges between $50 – $100 per month. 

Locksmith Insurance Gerrards

It’s crucial to have locksmith coverage if your business:

  • Handles sensitive security information
  • Provides 24/7 emergency services
  • Operates in multiple locations
  • Employs multiple technicians

What insurance covers are typically included in locksmith insurance? 

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Public Liability

This policy covers common locksmith business risks including bodily injuries, customer property damage, and advertising injuries. It’s required for most commercial leases.

Best For
  • Business Accident Coverage
  • Third-party Damages
  • Legal Cost Protection
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Statutory Liability

This cover is a type of protection that helps locksmith businesses cover costs if they accidentally break certain laws or regulations.

Best For
  • Unintentional breaches protection
  • Legal costs
  • Fines and penalties
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Business Vehicle Insurance

Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 
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Loss of use

Coverage that helps when your vehicle is unusable due to an accident. It covers the cost of a temporary replacement vehicle, so you can still get around while your car is being repaired.


Best For
  • Temporary vehicle
  • Reimbursement expenses
  • Accident downtime
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Tool Insurance

Safeguards your tools against unexpected events, like burglary or accidental damage, ensuring you won’t have to bear the financial burden of replacing them.

Best For
  • Burglary protection 
  • Accidental damage protection
  • Anywhere in New Zealand cover
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Employment Disputes

This insurance in NZ covers legal costs and other expenses arising from disagreements between employees and their employers.

Best For
  • Mediation costs
  • Legal expenses
  • Settlement fees

How much does locksmith insurance cost?

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Locksmith insurance premiums are calculated on several different factors including:

  • Types of cover
  • Turnover
  • Location 
  • Claims History 

Locksmith insurance in NZ typically costs between $50 to $100 per month

Who needs locksmith  insurance?

If you’re a locksmith in New Zealand, whether you’re a sole trader or run a bigger locksmith business, you need locksmith insurance. This includes mobile locksmiths, those who own brick-and-mortar shops, and even those just starting out in the trade.

Locksmith insurance isn’t always a legal requirement in New Zealand, but it is highly recommended. In certain situations, clients or contracts might stipulate specific coverage requirements. Additionally, being insured provides both locksmiths and their clients with an added layer of security, ensuring that unexpected costs from accidents or other incidents are covered.

By adopting best practices, investing in ongoing safety and skills training, and taking preventive measures, you can significantly reduce risks, which might lead to lower premiums. Bundling insurances or opting for higher deductibles can also be effective.

How do I get a locksmith insurance quote? 

We understand the unique needs of locksmith insurance in New Zealand. Leveraging our extensive industry knowledge and partnerships, we provide comprehensive locksmith insurance quotes from the top insurers in the country. Entrust us with your requirements, and we’ll ensure you receive the most competitive and tailored coverage options available.

To obtain a locksmith insurance quote we may require you to provide some fundamental details about your business, such as:

  • The name of your business
  • The total number of employees
  • Predicted annual income
  • Years of experience in the industry

How do I get proof of locksmith insurance?

You can usually get proof of locksmith insurance same day when you purchase insurance through Gerrards.

Acquiring a locksmith insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or project. We can typically provide a locksmith insurance certificate within 48 hours. 

To obtain insurance coverage promptly, contact one of our locksmith insurance brokers. 

What does locksmith insurance not cover?

Intentional Wrongdoing

If a locksmith intentionally causes harm or attempts to deceive someone, the insurance will not cover such acts. This includes things like purposeful damage or fraudulent activities.

Normal Wear and Tear

Tools and equipment naturally degrade over time. Insurance won’t cover the replacement costs due to this normal wear and tear.

Contractual Liabilities

When a locksmith assumes specific liabilities under a written or verbal contract, they might not be automatically covered by a standard policy. It’s essential to review any contractual obligations and ensure they’re covered.

Other common questions about locksmith insurance

Absolutely. Even if locksmithing is a side job or hobby, the risks remain. It’s crucial to ensure you’re protected regardless of the number of hours you put in.

Specific needs vary for mobile locksmiths and those working from home. Ensure you detail your operations clearly to your broker to get the most suitable coverage.

Certain policies do offer coverage for situations like lost keys or necessary rekeying after a security breach. Ensure this is included if it’s relevant to your operations.

Ideally, you should review your policy annually. Additionally, if your business undergoes significant changes, such as expanding services or hiring more employees, an immediate review is wise.

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