Protect Yourself Against Employee Crime With Fidelity Crime Insurance

Fidelity crime insurance

You are not responsible for the dishonest actions of your employees, but unless you have fidelity crime insurance coverage, you will unfortunately be responsible for the cost of their actions. Thankfully, insurance coverage is available to protect you from a wide range of dishonest employee activities so that you suffer minimal financial consequences.

What Does a Crime Insurance Policy Cover?

 Most crime insurance policies offer coverage for the following scenarios:

  • Forgery or altercation
  • Employee dishonesty
  • Theft of client property
  • Computer and funds transfer fraud
  • Money and securities

It is important to note that an employee is defined as a person whom you have the right to control, is compensated directly by you through wages, salary or commissions, and is in your service. A person who falls outside of these definitions is not an employee and their actions are not covered by fidelity crime insurance.

What Is Not Covered Under Crime Insurance?

Crime insurance does not cover dishonest actions committed by you or your partners. Additionally, it does not provide protection for your accounting errors or your liabilities to third parties as a result of crime-related losses. If you have any questions about your crime insurance policy and what it covers, be sure to sit down with your insurance agent and discuss your queries or concerns.

Insuring Your Restaurant for Peace of Mind

restaurant insurance in Texas

As a restaurant owner, you most likely don’t like to consider the possibility of accidents or losses, but unfortunately, they are inevitable. If you are considering restaurant insurance in Texas, it would be wise to invest. Having insurance helps protect your restaurant when accidents or losses do occur and provides a sense of security to you and your employees. Guests can injure themselves in countless ways and being prepared as well as aware of the possible repercussions is crucial. Even if personal injuries do not occur, equipment damages can transpire or the building itself can require repairs. These can have detrimental effects to the restaurant and your finances. If extreme damages do occur, not having restaurant insurance can end up putting your restaurant out of business.

Although some restaurant insurance in Texas may be expensive, you can find a competitive rate with some research. You will most likely be required to fill out paperwork and once that is completed, you can request quotes. When submitting the applications, you are not agreeing to pay anything or purchase insurance. It is not throwing money away, but rather a sensible investment in the future of your restaurant. Without insurance, you may hit with a massive payment when a loss or incident does occur. It is always better to be safe than sorry which is why obtaining restaurant insurance is vital for any restaurant owner.

Customize Your Commercial Liability Coverage

It is considered essential for every business to have some level of commercial general liability coverage. This type of policy protects your company against claims for bodily injury, property damage and personal liability. Most businesses face exposure from these areas, but coverage may not be one size fits all. A quality insurance agent may assess your company’s particular needs to design a policy that best protects your operation.

Three Areas of Coverage

General liability for businesses addresses three primary areas of protection. Premises and operations is concerned with activity and exposures relating to the workplace itself. This area often relates to injury and property damage. Coverage for products and completed operations may protect against losses from claims of negligence. Commercial general liability may also insure against loss from claims of libel and slander. The third area of concern is indirect contingent exposure, which may be necessary when a business employs subcontractors for a portion of its production.

Choose Correct Limits for Your Company

Your agent may be able to guide you as to how much insurance you really need to carry. A clothing retailer may not need the same liability limits as a construction company. Also, you may want to make certain the correct number of people are covered under the policy. Once you have met the minimum requirements, you may consider the appropriate enhancements and additions to fully customize protection for your company.