Insurance for Locksmiths: What's Your Coverage Cost with State Farm?
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PaintSplat
·1mo·49 replies·45 participants
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PaintSplat⭐ ExpertOP1mo
106
As a locksmith dealing with everything from car key duplicates to safe installs, I always push for solid insurance to cover tool theft or a botched rekey job gone wrong. I'm paying $2,800 a year for my comprehensive policy through State Farm, which includes $1M liability and full gear replacement up to $50k. 15 years in the trade, here's what nobody told me about getting the right coverage without overpaying.
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WattTheHeck29⭐ Expert1mo
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Customer calls at midnight: 'Can you rekey my Kwikset deadbolt?' I say sure, $150 service call. Shows up with a lawnmower key instead. Locksmith life's full of these plot twists.
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MopMaestro⚒️ Journeyman1mo
24
Never trust a midnight call without details. Had one where the 'emergency' was a stuck zipper on a sleeping bag.
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TenYearVet5⚒️ Journeyman1mo
14
Don't skimp on locksmith insurance, folks. Last year a van break-in cost me $10k in HPC code cutters and key blanks that weren't fully covered.
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FixItFelix11⚒️ Journeyman1mo
13
Yeah, my buddy got hit with a $5k deductible on his Progressive policy after some punks stole his entire impressioning kit.
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AmpedApprentice3⚒️ Journeyman1mo
14
Heard of a guy in Texas who skipped riders for mobile tools. Came back from lunch, van emptied, out $15k with zero payout.
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SlateSlinger4⚒️ Journeyman1mo
16
Pro tip: Add a scheduled personal property endorsement for your high-end stuff like the Futura key machine. Saved my ass last claim.
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PruneMasterFlex⚒️ Journeyman1mo
5
Insurance agent's like, 'What's your riskiest job?' Me: Picking a safe for a paranoid client while his dog stares me down. Premiums through the roof after that story.
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GarageGuru5⚒️ Journeyman1mo
33
Lol, try explaining to them about master keying a whole apartment complex. They think we're spies or something.
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PestPatrolPete⚒️ Journeyman1mo
20
Same here, man. Every claim feels like pulling teeth, especially when it's for something minor like a damaged Schlage cylinder during a rekey.
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DoorDoc🔧 Apprentice1mo
14
State Farm quoted me $3,200 for similar coverage, but I shopped around and got it down to $2,500 with Travelers by bundling my truck. Include errors and omissions for those 'oops, wrong key' moments.
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GarageGuru9⚒️ Journeyman1mo
13
Solid advice. Just filed a claim for a broken impression tool on a Ford transponder job, took forever but they covered the $400 repair.
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HandyDandyDude⚒️ Journeyman1mo
26
These PE-backed insurance firms are jacking up locksmith rates 20% yearly. We're the ones risking break-ins and lawsuits, not them.
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TarPaperTom⚒️ Journeyman1mo
12
Frustrated with my last renewal, added $500 for cyber coverage after a client claimed I 'hacked' their smart lock. Total BS.
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TenYearVet7⚒️ Journeyman1mo
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Had a job where the client accused me of damaging their Yale lock during install. Policy covered the $1,200 defense, but the hassle was unreal.
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KeyMasterKev2⚒️ Journeyman1mo
19
Switch to Geico if you're solo, got my locksmith policy for $2,100 including roadside assistance for auto jobs. Beats the big boys.
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BrushStrokeBoss14⚒️ Journeyman1mo
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Why are insurers treating us like high-risk gamblers? One van theft and your premiums double, even with alarms and GPS.
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KeyMasterKev2⚒️ Journeyman1mo
23
Client stiffed me on a $800 commercial rekey, then filed a claim saying I overcharged. Insurance sorted it, but lost a week.
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MulchMogul⚒️ Journeyman1mo
19
Out here, after that big locksmith supply heist wave, everyone's scrambling for better theft riders. Mine bumped to $3k annual.
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ColorCraze2⚒️ Journeyman1mo
11
The whole system's rigged against small ops like us locksmiths. Big corps get discounts, we pay for their bad apples.
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TrimQueen⚒️ Journeyman1mo
33
Haha, my policy has a clause for 'unusual access' jobs. Tried claiming a safe crack gone wrong, adjuster laughed.
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VentBoss⭐ Expert1mo
19
For auto locksmithing, make sure your policy covers key programming equipment up to $20k. Mine does now after a scare.
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RidgeRunner2⚒️ Journeyman1mo
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Yeah, been there with the back pain from lugging key machines. But insurance for health riders? Worth every penny over 50.
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FixItFelix9⚒️ Journeyman1mo
24
Agent asked if I handle 'forcible entry' often. Explained it's legit locksmith work, not burglary. Still got dinged on the quote.
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RootRider⚒️ Journeyman1mo
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yeah, insurance companies treat us like crooks no matter how you explain it. been gettin dinged on quotes for years over legit forcible entry gigs.
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HueMaster⚒️ Journeyman1mo
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shop around with simply business, they quoted me $1200 a year for gl and tools coverage after i explained the forcible entry work. skipped state farm altogether, their rates were BS for locksmiths.
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RustyNailBob3⚒️ Journeyman1mo
0
state farm's a damn joke for locksmiths, they treat us like we're the ones picking pockets instead of locks, no wonder their rates are highway robbery.
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PipeDreamer21⚒️ Journeyman1mo
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state farm's been jacking up my rates every damn year just cuz i do lockouts, makes me wanna switch carriers. its all BS, they act like every job's gonna turn into a lawsuit.
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KeyKeeper⚒️ Journeyman1mo
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shop around with thimble, their locksmith policies start at about $500 a year for basic liability and they've got instant quotes online so you aint waitin weeks. i switched from state farm last year cause they kept jacking up rates for my forcible entry calls, and thimble covers property damage without the BS add-ons. just make sure you bump the limit to at least $1m if youre doin evictions or repos. been with em six months now and no headaches.
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BrushStrokePro4⚒️ Journeyman1mo
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state farm screwed me over last year with a 30% rate hike after one damn property claim, now im stuck shoppin around again while they laugh all the way to the bank.
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BugBlaster3⚒️ Journeyman1mo
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damn state farm is a ripoff, jacking rates on every little claim like they own us locksmiths. switched to thimble too and it's a breath of fresh air without their endless paperwork BS. insurance companies are all the same, squeezing us dry while they rake in the profits.
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OpenerOracle⚒️ Journeyman1mo
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Dealing with a claim right now for a damaged Mul-T-Lock during demo. Process is a nightmare, two months in.
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BrushStrokeBoss3⚒️ Journeyman1mo
27
Every time I renew, it's higher. $2,900 now for basic liability. Feeling the squeeze on margins from rekey jobs.
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VoltageVampire⭐ Expert1mo
29
I hear ya, brother. After my first claim for a transponder key mishap, premiums shot up 30%. Screw that noise.
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ShingleShark3⚒️ Journeyman1mo
1
What's the going rate for locksmith E&O insurance these days? Mine's $1,800 but feels light for high-volume car work.
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LockPickLarry5🔧 Apprentice1mo
26
Man, saw a thread on r/Locksmith about a guy whose insurer denied a tool theft because he didn't have video proof. Brutal.
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WattTheHeck29⭐ Expert1mo
16
Buddy in the Locksmith Professionals group just got bought out by a PE firm, insurance tripled overnight. Good luck sleeping.
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MopMaestro⚒️ Journeyman1mo
4
Do you guys carry umbrella policies on top of the standard? Mine adds $500 but covers the what-ifs on big commercial gigs.
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V4923🔧 Apprentice1mo
8
insurance companies are straight up robbers, mine jacked the umbrella premium to $650 last year and i aint even doin big jobs yet.
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ShingleShark4⚒️ Journeyman1mo
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state farm is the WORST for us locksmiths, they jacked my commercial premium 40% last renewal and wouldnt even cover a basic lockout claim from a botched job. switch to progressive if you want to stay sane, their rates are half and they actually pay out.
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NotAnElectrician22⚒️ Journeyman1mo
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man, state farm screwed me over too, jacked my rates 35% outta nowhere last year and left me hangin on a simple key snap claim. been doin locksmith work for over a decade and its like they dont give a damn about the trade. switched to progressive like you said and yeah, half the cost and they actually answered my calls without the runaround. still pisses me off thinkin about all the BS i dealt with before. insurance companies are the real thieves in this game, always findin ways to nickel and dime us. had a buddy in the biz who got hit with a denial on a legit door damage claim, cost him thousands outta pocket. feels good to vent with folks who get it, you aint alone on this crap. we gotta stick together against these corporate assholes.
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SparkFreak⚒️ Journeyman1mo
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stuck with state farm for years but ditched em last month for geico, now my commercial coverage is $1800 a year and they handled my last claim smooth as butter. feels damn good to finally have insurance that respects the hustle.
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WireWizard87⚒️ Journeyman1mo
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state farm had me bent over for $2500 a year, total BS. switched to geico too and it's night and day better, glad you got out man.
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FramingFool3⚒️ Journeyman1mo
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state farm's been jacking up my premiums 20% every damn year, and that umbrella barely covers the BS they throw at you on those big jobs.
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PipeDreamer7⚒️ Journeyman1mo
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switched to simply business last year and cut my premiums in half, no hassles on claims either. if you're in a low-risk spot, their quotes are worth a look.
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CircuitSurfer4⚒️ Journeyman1mo
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state farm's screwing everyone in the trades with these insane hikes, it's like they think we're made of money. switched to progressive last year and still get hit with the same BS, insurance companies are the real thieves.
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FixItFelix11⚒️ Journeyman1mo
18
Totally feel this. Locked out a client last week on a rush job, policy saved me from a $2k lawsuit threat.
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V3676🌱 Newcomer1mo
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man, been there with the rush jobs that turn into lawsuits, its a real gut punch. last month i scratched a fancy door frame and the client was ready to sue for every penny, had me sweatin bullets. thank god my state farm policy kicked in and covered the $1.5k repair, wouldnt have slept otherwise. these homeowners act like we're tryin to rob em sometimes, total BS. feels good knowin you're not alone in this crap, keeps the trade from drivin you nuts. we gotta stick together on this stuff or we'll all get screwed.
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TermiteTamer⚒️ Journeyman1mo
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those entitled homeowners are the WORST, actin like we owe em the world when one tiny scratch turns into a damn lawsuit circus, screw that noise.
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TenYearVet5⚒️ Journeyman1mo
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How do you handle deductibles on smaller claims, like a $300 key blank loss? Worth paying out of pocket?
