Last Updated: February 16, 2024, 11:45 am by TRUiC Team


Does Business Insurance Cover Theft?

We’ll share which business insurance policies cover theft and how they can help protect your business.

Recommended: Next Insurance is dedicated to matching small businesses with the right policies at the best price.

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Commercial Property Insurance

One of the most common types of business insurance that covers theft is commercial property insurance.

This type of insurance provides coverage for the physical assets of your business, such as buildings, equipment, inventory, and furniture. 

If any of these items are stolen, commercial property insurance can help cover the cost of replacing them.

It’s important to note that commercial property insurance usually has a limit on how much it will pay out for a single claim. 

Make sure you understand your policy limits and adjust them accordingly if necessary.

Business Owner’s Policy

A business owner’s policy (BOP) is a package policy that combines different types of coverage that small businesses typically need. 

This may include:

  • Commercial property insurance
  • General liability insurance
  • Business interruption insurance

Some BOPs may also include coverage for theft.

BOPs are usually less expensive than buying individual policies separately, and they offer a convenient way to get comprehensive coverage for your business. 

If you’re interested in a BOP, make sure to ask your insurance agent if theft coverage is included.

Commercial Crime Insurance

Commercial crime insurance is a type of insurance that provides coverage for losses due to criminal activities such as theft, embezzlement, and forgery. 

This type of insurance can help cover losses related to theft by employees, burglary, and robbery.

If your business handles cash or has valuable assets, crime insurance may be a good option for you. 

Make sure to review the policy carefully to understand what is and isn’t covered.

Fidelity Bond

A fidelity bond is a type of insurance that provides coverage for losses caused by employee theft. 

This type of insurance can help protect your business from losses due to theft by an employee or group of employees.

A fidelity bond is usually purchased as a separate policy, but it can also be included in a BOP. 

Make sure to talk to your insurance agent to determine if a fidelity bond is right for your business.

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Recommended: Explore the most affordable small business insurance carriers in our review.

FAQs

Yes, some types of business insurance can cover theft, such as commercial property insurance, business owner’s policy, crime insurance, and fidelity bonds.

Commercial property insurance is a type of insurance that provides coverage for the physical assets of your business, such as buildings, equipment, inventory, and furniture.

A business owner’s policy (BOP) is a package policy that combines different types of coverage that small businesses typically need. This may include commercial property insurance, general liability insurance, and business interruption insurance.

Crime insurance is a type of insurance that provides coverage for losses due to criminal activities such as theft, embezzlement, and forgery.

A fidelity bond is a type of insurance that provides coverage for losses caused by employee theft.