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Employees often have access to records and documents that others don't.
Those acts may lead to embezzlement and can cause a slew of mishaps.

What is Crime Insurance?

Crime Insurance covers an organization's assets from physical misconducts such as dishonesty, theft or fraud from employees or third parties. Although businesses may consider their management and financial controls adequate, serious incidents can come out of the blue causing trouble and can cost firms dearly.

What does Crime Insurance cover?

Crime insurance covers you for the following types of losses:

  • Dishonesty of employees (including volunteers)
  • Computer fraud coverage
  • Disappearance, or destruction of property
  • Forgery or alteration
  • Burglary from premises
  • Robbery outside the premises
  • Investigation Cost
  • Embezzlement

Is Crime Insurance important?

General insurance policies do not protect against acts of employees or third parties. Thus, crime insurance policies can fill this gap in your insurance coverage. Although you may feel you have the utmost trust in your employees, it would be better to feel safe than sorry.

Who needs Crime Insurance?

If your business has the following characteristics, then it would be strongly advised to consider purchasing crime insurance:

  • Hires employees or uses volunteers to perform certain tasks
  • Conducts business with customers or third parties such as vendors, suppliers and distributors
  • Maintains company’s financial records
  • Accepts cash, cheques, credit cards as payment
  • Maintains inventories of goods and materials

How much does Crime insurance cost?

There are a multitude of factors connected to your business that plays a part in determining the price of a crime insurance policy. The factors can be found below:

  • Business size: There are two facets regarding size - number of employees and revenue. The more employees and the more revenue you have the higher chance and the higher risk there is that a crime insurance will occur, and therefore increases the premium.
  • Security protocols: Having solid procedures in place demonstrates that you are taking office security seriously. Investing in technology can go a long way in reducing premiums but it does not neccessarily have to be extreme; simple precautions such as few noticeable cameras and access controls for cash and securities can yield considerable trust to insurers, which could potentially yearn a better deal.
  • Financial protocols: Segregating duties and installing robust procedures for deposits, checks, inventory management and approving bank transfers can significantly reduce your premiums.
  • Property and equipment value: The premium can drive up if there are valuable property and have ease of access to it from employees.
  • Coverage limits: The coverage limits represents the maximum amount that you'll be compensated in the event of a claim. Hence, higher limits will mean more expensive coverage.
  • Claims history: Businesses with poor claims history and have excessive crime-related losses can expect higher premiums.
  • Deductibles: Deductibles are often included in business insurance policies. Deductibles are the amount of money your company will have to pay out of pocket before any coverage commences.
    Thus, the higher the deductible, the cheaper the cost of the policy.
  • Location: Depending on insurers, location may be factored in when determining the price. Areas that are riddled with crimes are more likely to have a higher premium than areas where it is considered safe to live and work in.


At CHAZ, we can guide you through the optimum coverage you require and the lowest amount you'll be able to pay to be sufficiently covered. Our strong relationship with a bevy of insurers allow us to confidently propose an offer that is reasonable and adequate.

Important Disclaimer

The content provided is for informational and educational purposes only. The coverage written may not be applicable to all situations and policies. Terms, conditions and qualifications are also subject to circumstance and supplementary material. For more information, please contact us via the enquiry form below.

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