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Open PadlockEvery year, businesses of all sizes face losses of more than a $1 billion in relation to employee theft. Even in situations where businesses don't have many employees, and keep a close eye on the ones they do have, theft can occur. Employee theft directly impacts the profit margins for a business.

In many ways, theft can be a financial stress that leads to the shuttering of a company. You may know that your property insurance coverage will cover theft. But, does this include employee theft?

Not All Business Insurance Covers Employee Dishonesty


The truth is that business insurance does not always cover employee theft. Most insurance companies specifically outline the potential coverage for employee theft. For example, policies may cover theft over a specific dollar amount or a specific type of threat.

Today, many insurers also offer more specific forms of insurance. These policies may not be an automatic part of your basic business insurance. Policies such as employee dishonesty coverage, fidelity policies, or crime loss policies may offer more specific protection against this type of theft loss.

Take a close look at your existing plan to examine its theft coverage. Policies that exclude employee or management theft may need a supplemental plan that offers more protection.

Minimizing Your Risks


Be sure to offer spontaneous checks to ensure employees are performing properly. Have disciplinary policies in place to help remove high-risk employees. Keep in mind that it's important to check with your state's employment laws to ensure you can legally take these steps.

Business insurance can offer coverage against employee theft. However, your business policy needs to specifically include this type of loss.

Keep an eye on your plan and work with your agent to make the most out of your coverage. While, preventing theft is always a better option than trying to balance loss through a claim, insurance is always a smart option.

We have your business needs in mind. Call Atlantis Insurance at (786) 828-7819 for a free Miami business insurance quote.
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