Business-related crimes threaten operations of all sizes and industries, even with preventive measures in place. Commercial crime insurance can provide financial protection against these events.
The Ed Weeren Insurance Agency team can help you analyze your insurance needs and help you get the insurance that best suits your business. Contact us today for additional information.
What Is Commercial Crime Insurance?
Commercial crime insurance can help mitigate the impact of unlawful acts on your business, whether they are committed by employees or third parties. It can provide essential financial assistance to help your operations recover after a qualifying incident. It can also supplement your commercial property insurance or other standard business insurance policies that may not offer complete coverage for these business-related crimes.
What Does Commercial Crime Insurance Cover?
Commercial crime insurance may provide coverage for unlawful business-related acts that employees or third parties commit, such as the following:
- Employee dishonesty and theft
- Forgery and alteration
- Funds transfer fraud
- Computer fraud
- Destruction of money or securities
- Good faith acceptance of counterfeit money orders or counterfeit currency
Coverage for unlawful acts committed by volunteers, temporary employees or others may also be available through various policies or endorsements. Commercial crime insurance may provide coverage for incidents at your place of business, when your goods are in transit and when your employees conduct business off-site. Contact your agent for more information on options, limits and exclusions.
How Much Commercial Crime Insurance Does My Business Need?
Determining how much commercial crime insurance you need is essential to help ensure your business has adequate protection against the crime risks it may face. A risk assessment can help you determine adequate coverage. Your insurance agent can also provide guidance on various policies to help you address your risk profile.
What Does Commercial Crime Insurance Cost?
Premiums for commercial crime insurance depend on several factors, such as the following:
- Your business’s location and size
- Your business’s industry
- Your business’s claims history
- Your selected coverage limits
Additionally, the risk management techniques and security systems you have in place can impact the cost of commercial crime insurance. Contact your agent for a quote.
The right commercial crime insurance policy can help your business recover after unlawful acts from internal or external sources.
The experienced professionals at Ed Weeren Insurance Agency can discuss your business’s unique exposures and how commercial crime insurance may provide essential coverage. Contact us today for more information.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.