What is the minimum amount of insurance a WGP agency must carry?

The minimum amount of insurance that a Watch, Guard, or Patrol Agency (WGP) must carry is $100,000 per occurrence and $300,000 aggregate. This coverage is essential for protecting the agency and its clients from potential liabilities that may arise during the performance of security services. The "per occurrence" limit indicates how much insurance will cover a single claim, while the "aggregate" limit refers to the total amount the agency will be covered for all claims within a specific period, usually one year.

Having this level of insurance ensures that an agency can handle claims related to property damage, bodily injury, or other liabilities that may occur while providing security services. It also instills confidence in clients, as they expect their security providers to have adequate liability coverage to handle any incidents that may arise.

The other insurance amounts provided in the question exceed the minimum requirement, meaning they are not necessary for compliance with the licensing regulations. However, some agencies may choose to carry higher amounts for additional protection against potentially larger claims.