Crime Insurance
Quick answer: Commercial crime insurance covers money, securities and other property your business loses to crimes such as employee dishonesty, robbery or burglary, forgery and computer fraud. Property policies often limit or exclude theft of money and losses caused by your own employees, which is the gap a crime policy is built to fill.
Unfortunately, crime and employee dishonesty can happen. As a business owner, it’s impossible to know whether the employees you hire are an honest fit for the job, and by the time you discover the truth, the damages can be costly. Your business may rely on personal customer data, financial, or proprietary information that can be easily be exploited and by having crime insurance you can avoid lawsuits, loss and protect your business’s reputation.
At Lions & Coventry Insurance Services, we can help your business develop a plan that keeps your assets protected in the event of such a specific circumstance. With Crime Insurance, your policy can include coverage for various situations, such as:
- Robbery or Burglary
- Computer Fraud
- Employee Dishonesty
- Theft of Business Property
- Forgery
Since there are limitations to your commercial crime policy, you should carefully discuss your options with Lions & Coventry Insurance Services to find out what kind of insurance your business needs based on your current situation and potential risks.
Don’t lose important data or finances on the account of a dishonest employee’s actions. Keep your business secure with Crime Insurance from Lions & Coventry Insurance Services.
Talk to a licensed producer: call (916) 967-7715 or request a quote online. Lions & Coventry Insurance Services, Est. 2009, CA Lic. #0G22084.
Crime insurance FAQ
What does crime insurance cover?
Depending on the coverages you choose, a commercial crime policy can cover employee dishonesty, robbery or burglary, theft of business property, forgery or alteration of checks and other documents, and computer fraud, subject to the policy terms and limits.
Isn’t theft already covered by my property insurance?
Partly. Commercial property policies usually cover theft of business property subject to limits, but they often exclude or sharply limit theft of money and securities and losses caused by employee dishonesty. Crime insurance is designed to cover those losses.
Does crime insurance cover cyber attacks?
Computer fraud coverage in a crime policy generally responds when money or property is stolen through fraudulent entry into your computer systems. It is not the same as cyber liability insurance, which addresses data breach response and liability. Losses from employees being tricked into sending funds, often called social engineering fraud, usually need a specific endorsement, so ask about it.
What information do I need for a crime insurance quote?
Have your business type and revenue, number of employees and who handles money, how much cash and how many securities you keep on hand, your internal controls (such as dual signatures, bank reconciliations and background checks), the limits you want and any prior crime losses.
What drives the price of crime insurance, and how do I get a quote?
Price depends on your type of business, number of employees, how much money you handle, your internal controls, the coverages and limits you choose, your deductible, and your loss history, so we do not publish rates. Call (916) 967-7715 or send your details through our contact page, and a licensed producer will review your business and shop the coverage with carriers that write commercial crime.
Related coverage: Fidelity bonds · Commercial property insurance · Business owners policy · Retail insurance · Contact us
Brokerage guidance, not legal advice. Coverage depends on the policy form, underwriting and carrier availability.