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Illinois Insurance Blog

Does commercial insurance cover employee theft?

We all like to think that we can trust our employees Deerfield, IL. But the unfortunate reality is that employee theft happens. So, what happens if one of your employees decides to help themselves to some of your inventory? Commercial insurance policies vary, so it’s important to check with STARS Insurance to know your specific coverage.

Types of Coverage

There are two types of commercial insurance policies that could potentially cover employee theft: property insurance and crime insurance.

Commercial Property Insurance

Businesses that carry property insurance are typically only covered if the thief breaks into the premises to commit the theft. In other words, if an employee simply walks out of the door with your merchandise without forcing their way in, then property insurance likely won’t cover the loss. That’s where crime insurance comes in.

Commercial Crime Insurance

Businesses that have crime insurance are typically covered regardless of how the thief gained access to the property. So, if an employee simply walks out the door with your merchandise, chances are that you’ll be covered. However, it’s important to keep in mind that there are typically limits on how much crime insurance will pay out.

Another thing to keep in mind is that most crime insurance policies have deductibles—just like auto or homeowners’ insurance policies.

Contact Us Today

Employee theft is a risk that all businesses face — even in Deerfield, IL. The good news is that if you have commercial insurance, you may be covered if one of your workers does decide to help themselves to some of your merchandise. However, it’s important to check your policy carefully. Contact STARS Insurance to talk with an experienced agent to make sure that you have the right coverage in place for your unique business needs.