Crime Insurance Information
Commercial Crime Insurance
Theft, forgery or fraud are significant threats to businesses, and there is always a chance one of these crimes could be committed against yours. Being prepared to recover your business if something like theft occurs is essential for your business’ longevity, and having crime insurance coverage is a great way to ensure that your business is safe.
The Getzoni Agency will guide you in choosing the right crime insurance policy for your specific business. Call us at (716) 631-0363 or request your free insurance quote online today.
Why Do I Need Crime Insurance?
No matter how extensive your security system might be, crimes can still be committed against your business, especially when it comes to employee-related crimes occurring internally. That’s why getting the right commercial crime insurance policy is so important for your business.
Say you own an electronics store. You deal with devices such as laptops and phones. Upon conducting an inventory check, you discover that $15,000 worth of merchandise is missing. The police investigate the situation and reveal that one of your own employees stole the merchandise. Although commercial property insurance would probably exclude coverage for such an incident, a crime insurance policy could provide compensation for the stolen items.
Benefits of Crime Insurance
Crime insurance can offer businesses the following benefits:
Coverage for the misuse of funds—It is likely that a number of your employees have access to company funds or financial information. In some cases, employees may abuse this access for personal gain. Crime insurance can protect organizations from the misuse or illegal transfer of funds, ensuring your finances are safe from internal criminal acts.
Extortion safeguards—While it can be difficult to imagine, employees and outside actors can extort a company for funds by holding a director or officer hostage or through other illegal methods. Without crime insurance, your organization would have no means to recoup these losses, which could devastate your bottom line.
Insurance for goods in transit—Goods in transit are particularly vulnerable to employee theft and in some cases, organizations may not notice anything has been stolen until it is too late. What’s more, if the theft takes place outside of the organization’s premises, it can difficult to prove, often leading to drawn out and expensive legal battles. Crime insurance policies can provide ample protection for goods in transit and reduce the likelihood of extreme losses whenever you send or receive products.
Coverage for forgery and alteration—In some cases, your employees have access to checks that they can easily alter for their own gain. Effective crime insurance policies provide coverage for losses that result from the forgery or alteration of a cheque.
Learn More About Crime Insurance
It’s essential for the safety of your business to think about a commercial crime insurance policy to avoid putting yourself at risk, as it often occurs among businesses with even the most state-of-the-art security systems.
To discuss your unique risks and to learn more about crime insurance policies, contact us today at (716) 631-0363.