Commercial Crime Insurance in Texas
Your business works hard to earn its money. Commercial crime insurance can help protect eligible businesses against certain covered losses involving theft, employee dishonesty, forgery, fraud and other business crime risks.
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When Trust Meets Business Risk
Most business owners spend a lot of time thinking about customers, employees, equipment and revenue. Business crime may not be at the top of the list — until something goes wrong.
Commercial crime insurance is designed to address certain financial losses caused by covered criminal acts. Depending on the policy, coverage may include exposures such as employee theft, forgery or alteration, robbery, safe burglary, and money or securities losses.
Coverage varies by policy and insurer and is subject to policy terms, conditions, limits, exclusions and endorsements.
What Can Commercial Crime Insurance Cover?
Commercial crime policies can be designed around the specific crime exposures a business faces.
Employee Theft
Certain coverage may help address covered losses caused by dishonest acts committed by an employee.
Forgery & Alteration
Coverage may be available for certain losses involving forged or altered checks, documents or other financial instruments.
Robbery & Safe Burglary
Depending on the policy, businesses may have coverage for certain covered losses resulting from robbery or safe burglary.
Money & Securities
Certain policies can provide coverage for covered losses involving money, securities and other specified property.
Computer & Funds Transfer Fraud
Some commercial crime policies can address certain computer fraud or fraudulent funds transfer exposures. Coverage details vary significantly by policy.
Other Crime Exposures
Depending on the business and policy, additional crime-related coverage options may be available.
Your Business Doesn’t Have to Look Risky to Have Crime Exposure
A business can have strong locks, cameras and accounting procedures and still face financial losses from fraud or theft.
Crime losses can happen through financial transactions, employee access, physical property, checks, electronic systems and other areas of normal business operations.
Commercial crime insurance provides another layer of financial protection for certain covered losses.
Imagine an employee has access to company funds and improperly takes money over time. The business discovers the loss during an internal review.
If the policy includes applicable employee theft coverage and the loss meets the policy requirements, the coverage may help address the covered financial loss, subject to the policy’s terms, conditions, limits and exclusions.
Commercial Crime Insurance vs. Other Business Coverage
One commercial policy does not necessarily address every type of business loss.
| Coverage | Primary Purpose |
|---|---|
| Commercial Crime | Certain covered losses involving theft, employee dishonesty, forgery, robbery and other crime exposures. |
| General Liability | Certain third-party bodily injury, property damage and liability exposures. |
| Commercial Property | Covered physical property losses involving buildings, contents and other insured property. |
| Cyber Insurance | Certain cyber-related risks, which may include data breaches, cyber incidents and related expenses depending on the policy. |
| Business Income | Certain income losses and continuing expenses resulting from a covered property loss, subject to policy terms. |
Who Should Consider Commercial Crime Insurance?
Crime exposure can exist in businesses of many sizes and industries.
Retail Businesses
Businesses handling cash, inventory and customer transactions may face several types of crime exposure.
Professional Offices
Accounting, consulting and other offices may handle financial information, checks and electronic transactions.
Contractors
Businesses with employees, equipment, purchasing accounts and multiple job locations may have unique crime exposures.
Property Management
Property managers and other businesses handling tenant funds or financial transactions may have additional exposures.
Restaurants
Businesses handling cash, inventory, payroll and multiple financial transactions may benefit from reviewing crime coverage.
Growing Businesses
As a company adds employees, locations, systems and financial responsibilities, its crime exposures can change.
Common Business Crime Exposures
A conversation about crime insurance should look beyond the obvious.
Employee Dishonesty
Unauthorized taking or misuse of business property or funds by an employee may create a significant financial loss.
Fraudulent Transactions
Businesses may face losses involving fraudulent financial transactions or other covered criminal activity.
Forgery
Checks, financial documents and other instruments can create exposure to forgery or alteration.
Theft
Physical theft, robbery and other covered criminal acts can result in financial losses for a business.
Insurance works best alongside good internal controls. Many businesses consider:
- Requiring two people to approve payments, wire transfers and new vendors
- Separating duties so one person doesn’t handle billing, deposits and reconciliation
- Reconciling bank and credit card statements every month
- Verifying any change to payment instructions by phone, using a known number
- Running background checks for roles with access to money or inventory
- Asking your bank about positive pay or similar check-fraud tools
Some carriers ask about these controls when quoting crime coverage.
Commercial Insurance That Works Together
Commercial crime insurance is one piece of a broader business insurance strategy.
General Liability
Explore coverage for certain third-party liability exposures.
Learn more →Cyber Insurance
Learn about insurance options for certain cyber-related risks.
Learn more →Employment Practices Liability
Coverage options for certain employee claims such as wrongful termination or discrimination.
Learn more →Commercial Property
Protection for certain covered losses to buildings, equipment and contents.
Learn more →Professional Liability
Explore protection for certain claims involving professional services.
Learn more →Business Owner’s Policy
Combine important business coverages in one commercial insurance package.
Learn more →Why Talk With Lavon Insurance?
Commercial insurance isn’t one-size-fits-all. We take the time to understand how your business operates, what you need to protect and where your existing coverage may leave questions.
Independent Approach
We work with multiple insurance carriers and focus on matching coverage to your situation.
Personal Service
You get a person who can discuss your questions instead of trying to figure everything out alone.
Texas Businesses
We help businesses review commercial insurance options throughout Texas.
Commercial Crime Insurance FAQs
What is commercial crime insurance?
Commercial crime insurance is designed to provide coverage for certain financial losses resulting from covered criminal acts. Depending on the policy, this may include employee theft, forgery, robbery, safe burglary and other crime exposures.
Does general liability cover employee theft?
General liability and commercial crime insurance address different types of risks. Employee theft is generally a crime exposure rather than a standard general liability exposure, so businesses should review whether appropriate crime coverage is included in their insurance program.
Is employee dishonesty the same as commercial crime insurance?
Employee dishonesty is one type of crime coverage. A commercial crime policy may include employee dishonesty along with other available crime coverages, depending on the policy.
Does commercial crime insurance cover cyber crime?
Some commercial crime policies can include certain cyber crime exposures, but cyber insurance may address additional risks. The specific coverage depends on the policy and insurer.
Does every business need commercial crime insurance?
Crime exposure varies by business. Companies that handle cash, financial transactions, inventory, valuable property or employee-controlled funds may want to evaluate whether crime coverage makes sense for their operation.
How much commercial crime insurance do I need?
The appropriate limit depends on factors such as the type of business, financial transactions, employee access, assets, locations and potential loss scenarios. Lavon Insurance can help you review your exposures and available options.
Let’s Talk About Your Business Crime Exposure
Employee theft, fraud and other crime exposures may not be obvious when everything is going well. Let’s review your business and discuss coverage options that may fit your needs.
Insurance coverage varies by insurer and policy. Commercial crime insurance may include different coverage forms, limits, deductibles, conditions and exclusions. This page is for general informational purposes and does not modify or replace the terms of an insurance policy. Coverage is subject to the applicable policy terms, conditions, limits, exclusions and endorsements.