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Commercial Crime Insurance

Employee dishonesty and theft can happen in any business, large or small. Make sure you’re protected with crime insurance coverage.

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What Is Crime Insurance?

Commercial crime and fidelity insurance helps financially protect your business against the theft of money or other securities inside or outside your premises under certain circumstances. At Westfield, we offer multiple crime and fidelity insurance endorsements to provide protection against exposures like forgery or alteration, employee theft, fraud, and disappearance or destruction.

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Need to File a Crime Insurance Claim? 

Call us at 800.243.0210, option 3, to report your claim as soon as you can — we’re here to help 24 hours a day, 365 days a year.
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What Are the Two Types of Crime Insurance?

There are two main types of commercial crime coverage: first-party and third-party coverage. First-party crime coverage can help protect your company against losses resulting from employee theft, while third-party crime coverage can protect a client against losses resulting from theft by an employee. 

What Does Crime Insurance Cover?

Available Crime Insurance Endorsements

With Westfield, you can tailor your crime insurance policy to your business’s unique needs by selecting from the coverages outlined below.*

Employee Theft Coverage

Protects you from the criminal activities of your employees and provides coverage for most types of employee theft, including theft of securities and money. 

Computer Fraud and Transfer Fraud Coverage

Pays for loss of money and securities, when a computer is used to fraudulently transfer covered assets from inside your premises, or a banking premises, to outside those premises.

Forgery or Alteration Coverage

Protects against loss due to the forgery or alteration of checks, bank drafts, promissory notes, and similar documents drawn on your business’s bank account. This coverage also includes applicable legal defense costs.

Disappearance or Destruction Within Your Premises

Covers the disappearance or destruction of money and securities from within your insured premises or the premises of a financial institution. It also covers damage to locked safes, vaults, and cash registers, as well as damage to the premises caused by the actual or attempted theft.

Disappearance or Destruction Outside Your Premises 

Covers theft and the disappearance or destruction of money and securities while outside your premises. It also covers loss or damage to property in the custody of a messenger or an armored motor vehicle company resulting from actual or attempted robbery.
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Common Exclusions

What Does Commercial Crime Insurance Not Cover?

Commercial crime insurance covers many aspects related to employee theft or fraud, but it does have some exclusions, such as:

  • Crimes by business owners or partners 
  • Cybercrime and data breaches 
  • Employees with criminal records known to employers 
  • Indirect financial losses, such as business interruption
  • Noncriminal errors or omissions  

5%

On average, a business loses about 5% of its revenue each year to employee theft.

-WorldMetrics Report 2024 

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Businesses That Benefit

Who Needs Commercial Crime Insurance?

While almost any business could benefit from a crime insurance policy, it is essential coverage for those that handle financial transactions with customers. Here are just some of the businesses and industries that should consider adding crime and fidelity insurance to their commercial policy:

Customize Your Policy

Explore Other Add-On Coverage Options

General Liability

Coverage for when bodily injury or property damage happens on your premises, regardless of whether you’re legally responsible.

Commercial Auto

Protection for the vehicles your business owns, hires, or borrows and the employees who drive them. 

Commercial Property

Coverage for your buildings, your business property, and the personal property of other people.

Commercial Cyber

Insurance that provides first- and third-party coverage against losses like data breaches, extortion, and ransomware. 

Business Interruption

Coverage that keeps the cash flowing and helps you meet your obligations while working to get back in business.

Equipment Breakdown

Coverage for the cost to repair or replace equipment and any property damaged by the equipment breakdown.

Inland Marine

Coverage for property that is movable or used in multiple locations, such as equipment, tools, and goods in transit.  

Workers’ Compensation

Coverage that pays for the medical care, rehabilitation costs, and lost income of employees who are injured on the job.

Commercial Umbrella

Protection beyond the coverage limits of your business policy that is typically used for larger exposures.
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Crime Insurance Quotes

Even businesses with upstanding, trustworthy employees can experience crime-related losses. Protect yourself with a commercial crime insurance package from Westfield. 
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Crime Insurance

Frequently Asked Questions

Employee theft insurance helps protect you from loss of money and other securities when the loss is caused by employee theft. 

Generally, most commercial insurance policies do not cover employee theft, nor do they include money as covered property. Add crime insurance coverage to help protect your business from theft.

There is no set price for crime and fidelity insurance. That’s because the cost of a commercial crime policy depends on a variety of factors, including:

  • Claims history 
  • Coverage types   
  • Credit score
  • Number of employees 

Contact a local agent to get a commercial crime insurance quote.

*Please review your actual policy language to see applicable coverages, limits, and exclusions.