work with consumers

4 Questions Insurance Agents Are Asked

With crime insurance, a company is given coverage that isn’t usually included with other policies. With a commercial crime policy, there can be several types of coverage. Areas include:

Employee dishonesty
Transfer fraud
Computer fraud

As the experts at work with consumers, there are five common questions they answer concerning crime coverage.

What Does It Cover?

The primary purpose is to cover money, property, or securities, from various types of criminal activity. It can apply to employee theft or severe fraud cases.

How Do I Get It?

Speak with your insurance agent about coverage options. Crime can be an endorsement for current policy, or it may be selected as stand-alone coverage.

Does Crime Insurance Have Limits?

When this coverage is endorsed on a policy, the sub-limit could be as low as $25,000. Depending on your risks, you may need coverage with a limit close to $1 million or higher in coverage.

Can I Prevent Insurance Claims?

The best way to protect your company is thorough employee screening with potential new hires. Most of the claims arise from in-house situations. Using video cameras, an alarm system, accountability measures, and attention to details can help you detect a problem early on.
The biggest mistake many companies make is thinking they don’t need crime coverage. However, employee dishonesty is the most common claim and needs to be proactively addressed.