3 Things You Need to Know About Crime Insurance

crime insurance coverage

If you’re a business owner, you’ve more than likely already looked into crime insurance coverage or have even already invested in these services. While it’s clearly a good idea to have this type of protection on your side, there are a few things anyone who has or is looking to obtain this coverage should know about the benefits of investing in order to make the best possible decision for their business in the long run. When you’re speaking with brokers and considering plans, remember the following:

  • The average business loses almost 6 percent of their overall revenue each and every year due to employee-related losses. This means that, regardless of coverage options, you really do need at least some type of protection against these losses if you want your business to thrive.
  • While crime insurance coverage reimburses and protects your business from a huge number of threats, it may not reimburse you for lost or stolen cash or checks. There also may be limits placed on reimbursement for employee theft.
  • Brokers don’t just wait on you to tell them what you want. Rather, they review your business and practices and evaluate your need for different security measures and coverage. This ensures you’re getting what you really need to stay safe in the long run, and are getting the best possible deal in the process.

Keeping these things in mind while shopping for crime insurance coverage should help you have the smoothest possible experience.