You can buy several types of coverage to protect your business from crime. Common crime coverages include:
Loss of glass and money due to theft pays for damage to glass and any loss of money resulting from a break-in.
Robbery and safe burglary, property other than money is a more limited form of coverage that does not include money or securities.
Forgery or alteration protects your business against forgery or alteration of checks, drafts, promissory notes, or other directions to pay.
Theft, disappearance, and destruction coverage insures money, securities, and other property against losses, both on your premises or in the custody of an employee or messenger while off premises.
A policy may pay losses from crime on either a “loss sustained” or “discovery” basis. Loss sustained coverage pays for losses that occur during the policy period, while discovery coverage pays for losses that occur at any time. Both types of crime coverage require that losses be discovered during the policy period or extended reporting period.