Protect Your Business from Theft, Fraud, and Employee Dishonesty
Most business owners spend a lot of time protecting their buildings, vehicles, and equipment. But what about the financial losses caused by theft, fraud, forgery, or employee dishonesty?
Crime insurance helps protect businesses from losses that often aren’t fully covered by a standard commercial property or business owner’s policy (BOP). Whether you operate a retail store in New Braunfels, a contractor business in San Marcos, or a professional office in Austin, crime-related losses can happen to businesses of any size.
At Dowd Insurance Agency, we help business owners throughout Central Texas, the Texas Hill Country, and the Austin-to-San Antonio corridor find crime insurance solutions that fit their operations and risk exposures.
What Is Crime Insurance?
Crime insurance is a specialized policy designed to cover financial losses resulting from criminal acts such as theft, fraud, forgery, embezzlement, and employee dishonesty.
Many business owners assume their commercial property insurance covers these losses. In reality, coverage for employee theft, stolen money, forged checks, and cyber-related financial fraud is often limited or excluded altogether.
Crime insurance fills these gaps and helps businesses recover financially after a covered loss.
What Does Crime Insurance Cover?
Coverage options can vary by carrier, but common protections include:
| Coverage Type | What It Covers |
| Employee Theft | Theft of money, securities, inventory, or property by employees |
| Forgery & Alteration | Losses from forged checks, drafts, or promissory notes |
| Computer Fraud | Funds stolen through fraudulent electronic transactions |
| Funds Transfer Fraud | Unauthorized instructions that cause money transfers |
| Money & Securities | Theft of cash, checks, or securities on premises or in transit |
| Social Engineering Fraud | Losses resulting from deceptive schemes that trick employees into transferring funds |
| Client Property Coverage | Theft of client-owned property in your care, custody, or control |
| Robbery & Burglary | Losses caused by break-ins or theft involving force or threats |
Crime Insurance vs. Commercial Property Insurance
Many business owners are surprised to learn that commercial property insurance and crime insurance serve different purposes.
| Commercial Property Insurance | Crime Insurance |
| Covers physical property damage from covered causes of loss | Covers financial losses caused by criminal acts |
| Focuses on buildings, equipment, and inventory | Focuses on theft, fraud, forgery, and dishonesty |
| May provide limited theft coverage | Addresses broader crime-related exposures |
| Generally excludes many fraud-related losses | Specifically designed to cover fraud and employee theft risks |
Think of it this way: if a storm damages your office, property insurance responds. If an employee embezzles company funds or a scammer tricks your accounting department into wiring money, crime insurance may be the policy that helps.
Who Needs Crime Insurance?
Crime insurance can benefit nearly every business, but it is especially important for:
| Business Type | Why Coverage Matters |
| Contractors | Employees often handle tools, equipment, materials, and client property |
| Retail Businesses | Frequent cash handling and inventory exposures |
| Professional Offices | Exposure to wire transfer fraud and financial scams |
| Nonprofits | Limited financial oversight can increase fraud risks |
| Manufacturers | Inventory theft and employee dishonesty exposures |
| Property Managers | Handling rent payments and client funds |
| Healthcare Providers | Access to financial information and valuable assets |
Frequently Asked Questions about Crime Insurance
Is employee theft covered under a standard business insurance policy?
Usually not. Many commercial policies provide little or no coverage for employee dishonesty. Crime insurance is often needed to protect against these losses.
Does crime insurance cover cybercrime?
Some forms of computer fraud and funds transfer fraud may be covered. However, crime insurance is not a replacement for cyber liability insurance. Many businesses benefit from carrying both.
Can small businesses benefit from crime insurance?
Absolutely. Small businesses often have fewer internal controls and may be more vulnerable to fraud, embezzlement, and social engineering scams.
How much crime insurance do I need?
Coverage needs depend on factors such as annual revenue, cash flow, number of employees, access to financial accounts, and potential exposure to theft or fraud.
Protect Your Business from Costly Financial Losses
A single act of employee theft, check fraud, or wire transfer fraud can create significant financial hardship for a business. Crime insurance helps provide the financial protection your company needs when criminal acts threaten your bottom line.
Dowd Insurance Agency proudly helps businesses throughout Central Texas, the Texas Hill Country, and the Austin-to-San Antonio region evaluate crime insurance options and build comprehensive business insurance programs.
Contact our team today to request a crime insurance quote and learn how to better protect your business from theft, fraud, and employee dishonesty.
