Call Us 440-899-2700 ☰ ˟
Logo
Call Us 440-899-2700
  • Our Agency
    • About Us
    • Our Providers
    • Contact UsImage of right arrow
      • The McCallum Insurance Agency
    • Our Team
    • Our Location
  • Products
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Financial Institution Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Media & Advertising Insurance
      • Orthotics & Prosthetics Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Real Estate Businesses Insurance
      • Retail Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tow Trucks Insurance
    • Coverage for Your BusinessImage of right arrow
      • Leave Management
      • Loss Control Insurance
      • Marine Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Inland Marine Insurance
      • Professional Liability
      • Bonds
      • Fidelity Bonds
      • Surety Bonds
    • Coverage for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
    • Farm InsuranceImage of right arrow
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
    • Auto InsuranceImage of right arrow
      • Uninsured & Underinsured Motorist Coverage
      • Minor Violation Forgiveness
      • Classic Car
      • Rental Reimbursement
      • Medical Payments Coverage
    • Annuities
    • Home InsuranceImage of right arrow
      • Mortgage Protection
      • Homeowners Liability
      • Scheduled Property Insurance
      • Landlords Insurance
    • Life InsuranceImage of right arrow
      • Individual Life
      • Group Life
      • Long Term Care
      • Second-To-Die Industry
      • Medical Payments Coverage
    • Powersports Vehicle InsuranceImage of right arrow
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Snowmobile Insurance
    • Other Personal Insurance
  • Get A Quote
    • Annuities Quote FormsImage of right arrow
      • Annuity Quote Form
    • Auto Insurance Quote FormsImage of right arrow
      • Auto Insurance Quote
    • Business & Commercial Insurance Quote FormsImage of right arrow
      • Business Owners (BOP) Quote Form
    • Homeowners Insurance Quote FormsImage of right arrow
      • Homeowners Insurance Quote
    • Life Insurance Quote FormsImage of right arrow
      • Life Insurance Quote
    • Recreational Vehicle Insurance Quote FormsImage of right arrow
      • Recreational Vehicle Quote form
  • Resources
    • Refer a friend
    • Insurance Glossary
  • Contact
    • Contact
    • Location Map
    • Contact Us
Home > Blog > Will Business Insurance Cover Stolen Cash? - McCallum Agency
FRIDAY, APRIL 15, 2022

Will Business Insurance Cover Stolen Cash?

Your business insurance policy may cover stolen cash up to a certain limit, but on a basic policy, these limits are generally not going to be very high. This is for a number of reasons, but two above all:a mans stealing from a register

 

  • Moral hazard. That is, it's far too easy for someone to steal cash from their own register and file a false claim.
  • Cash is difficult to document. Unless you want to take a photo of your register and send it to your insurance company on an hourly basis, it's hard to prove how much cash was actually stolen in a theft or robbery. Cash is a liquid asset, constantly changing in value. Therefore, it’s hard to prove exactly how much you might lose in any given scenario.

 

You will find these same issues coming up in home insurance policies, where your insurer may cover only up to around five hundred dollars or so in stolen cash following a burglary, even as your physical property is covered for thousands of dollars.

 

For many businesses, cash isn't much of a concern. If you run an online startup, for instance, you're probably only going to have that first dollar earned to frame and put up on the wall. Otherwise, cash on hand will likely be very little—the rest is in the bank.

 

But if you do deal with a lot of cash in your business, such as if you run a restaurant or convenience store, then you're going to want to look into getting your register protected under a crime insurance policy with your business insurance provider.

 

Crime insurance can be helpful in recovering from any number of monetary losses. Your plan can include employee theft, stolen inventory, robbery and even credit card forgery. If you work in a customer-facing industry with a real brick-and-mortar location, you will absolutely want to talk to your insurer about crime insurance.

 

Every business has its own set of risks to contend with. If cash is on the list, then you need to ask your business insurance provider about cash insurance, and consider a crime insurance plan to protect your earnings.

Posted 2:43 PM

Tags: business insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021

  • auto insurance(6)
  • renters insurance(5)
  • home insurance(5)
  • boat insurance(5)
  • insurance(4)
  • business insurance(4)
  • rv insurance(3)
  • coverage(3)
  • recreational vehicle insurance(2)
  • life insurance(2)
  • business(2)
  • farm insurance(2)
  • car(2)
  • policy(2)
  • auto(2)
  • car accident(1)
  • commercial liability insurance(1)
  • bonds(1)
  • homeowners(1)
  • accident(1)
  • farm owners insurance(1)
  • owners(1)
  • bop(1)
  • apartment tips(1)
  • risk(1)
  • high(1)
  • commercial property insurance(1)
  • motorcycle insurance(1)
  • homeowners insurance(1)
  • driver(1)
  • safeguard your valuables(1)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Home| Get A Quote| Resources| Blog| About Us| Contact
27570 Detroit Ave | Westlake, OH 44145
P: 440-899-2700 | F: 440-899-7755
Social Social
Logo

Powered by Insurance Website Builder