PRODUCT GUIDE
Business crime insurance helps organizations recover from dishonest acts such as employee theft, forgery, robbery of money and securities, and certain computer-fraud or funds-transfer schemes—subject to the crime form’s insuring agreements and exclusions. It is not a substitute for general liability, and it is not the same as a commercial property policy that covers burglary of inventory after a break-in (though packages sometimes coordinate). Freedom Insurance Group places crime coverage when bookkeeping access, cash handling, or wire authority create real exposure.
Typically helps with
- Employee theft of money, securities, or property as the form defines
- Forgery or alteration of checks and similar instruments
- Robbery or safe burglary of money and securities when scheduled
- Computer fraud / funds transfer fraud as the selected agreements provide
Usually does not
- Inventory shortage without proving a covered dishonest act
- Ordinary shoplifting assumed without matching insuring agreements
- General liability bodily injury claims
- Cyber ransomware without a cyber or matching crime agreement
Mapping crime agreements to how you actually handle money
Employee theft addresses dishonest taking by employees. Forgery covers fake checks. Computer fraud and funds-transfer fraud address certain unauthorized electronic transfers—wording varies widely, especially on social-engineering losses. Start at business crime insurance and the broader business insurance hub.
Property burglary of stock after forced entry may still live on commercial property. Do not assume one form does both jobs.
Who needs crime coverage in Texas and beyond
Retailers with cash drawers, nonprofits with volunteer treasurers, professional firms with client-fund access, and any business that initiates ACH or wire payments should price crime coverage. Pair with business liability, GL & property, and business interruption when a theft also interrupts operations.
Employee injuries remain a workers’ compensation question—see workers’ compensation. Auto exposures: commercial auto.
Underwriting questions and Freedom’s placement
Carriers ask about audits, background checks, countersignature rules, and prior losses. Honest answers beat claim-time surprises. Umbrella layers: commercial umbrella.
Start quotes via get a quote, ask an agent, products, and Insurance Center.
| Insuring agreement | Typical focus | Common gap |
|---|---|---|
| Employee theft | Inside dishonest acts | Poor segregation of duties |
| Forgery/alteration | Fake checks | Unsigned check stock |
| Computer fraud | Unauthorized computer transfers | Social engineering not added |
| Funds transfer fraud | Fraudulent payment instructions | Verify-callback skipped |
| Premises theft of money | Robbery/burglary of cash | Cash not declared |
Related Freedom guides
Getting a business insurance quote ready
Before we shop your coverage, gather your current declarations pages, loss history reports from prior insurance companies, photos of the property, and anything your lender or landlord requires. Include serial numbers for equipment and receipts for upgrades in the same upload as the application. Missing documents slow down getting coverage in place and can lead to disputes later.
Ask your agent to explain every deductible, waiting period, and sublimit in plain language. If a quote looks inexpensive, check whether an important endorsement was left out. Tell your agent about changes during the policy term within days, not at renewal. New equipment, remodeling, or a change in how the business operates can change what the original policy assumed.
What to do on the day of a claim
After a loss, put safety first, then take photos, then notify the insurance company. Take wide shots and close-ups, keep damaged property until the adjuster says you can discard it when that is practical, and write down any contractors who do emergency work. Save invoices for boarding, emergency repairs, or water extraction, because they often matter in how the claim is paid.
Read the duties-after-loss section of your policy. Deadlines for inventories, recorded statements, and proof-of-loss forms are easy to miss. If someone else may be hurt or their property damaged, avoid guessing about fault on social media. Ask your agent early if more than one policy might apply. You can ask an agent for practical help with the claim process, though that is not legal advice.
Reviewing your renewal
Insurance prices tighten or loosen after big catastrophe years and with local loss trends. A renewal increase is not automatically a reason to accept it or to switch without looking. Compare deductibles, new exclusions, and changes in how your property is valued, which can hide inside a similar premium.
Freedom shops your policy again when the price or the policy language gets worse, and recommends staying when your company still offers better claims service and broader coverage. Keep a one-page summary of what you think you have, and update it when your declarations page changes. For changes during the policy term, start at get a quote.
Frequently asked questions
Is employee theft covered by property insurance?
Sometimes inventory theft after break-in is on property forms, but employee dishonesty usually needs a crime agreement.
Does crime insurance cover phishing wires?
Only if the form or endorsement covers social engineering / funds transfer fraud as written. Ask explicitly.
Are owners and partners treated as employees?
Definitions vary. Some forms limit or exclude theft by owners—read the who-is-an-employee language.
What limits should we buy?
Size limits to the largest realistic wire or cash exposure, not to last year’s premium target.
Does crime replace cyber insurance?
No. Crime forms and cyber policies overlap imperfectly. Map both for ransomware versus dishonest employee acts.
How do we start a Freedom crime quote?
Share entity type, revenue, employee count, audit practices, and any prior fidelity losses.
