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Crime Insurance


Protections Provided by Crime Insurance

When most people think of crime victims, they think of individuals. But it’s not uncommon for a business to become a victim of a crime. A crime insurance policy can help a business recover after a crime takes place. Here are some of the benefits offered by this type of policy.

1. Crime insurance compensates a business for dishonest acts performed by employees. Theft isn’t always the act of an outside person. An employee can steal from a business the same as a non-employee. An employee can steal money, steal property, or perform some other act that harms the business. Crime insurance coverage will help the company recover from such acts.

2. Crime insurance helps a business recover from robberies committed by non-employees. This applies in situations in which non-employees enter a business and commit robbery during operational hours. In most cases, this coverage also extends to situations in which business is being done offsite.

3. Crime insurance compensates a business for stolen securities. An employee may have the desire, motive, and opportunity to steal business securities. A security is a financial instrument that holds value. And a person with a stolen security can transfer ownership of that security over to another person.

Other Forms of Businesses Crimes

Theft is the most common type of crime businesses experience. But it’s not always theft of money. For instance, a person could commit computer fraud and steal private financial information. A person could also commit forgery or tamper with business documents. With crime insurance, the policyholder receives assistance recovering from such malicious acts.

When to Consider Crime Insurance

Any business can benefit from crime insurance. But generally, businesses that deal with large amounts of cash, credit cards, or checks are more likely to benefit from this coverage. If a business has a high employee turnover, such as seasonal or temporary employees, then the business might also want to consider crime insurance.