Specialty · Insurance Term
Commercial Crime Insurance (Crime Coverage)
Definition
Commercial crime insurance covers money, securities and other property lost to crimes such as employee theft, forgery, robbery and certain computer or funds transfer fraud. Property and liability policies usually exclude or limit these losses.
In Plain English
Crime policies are built from insuring agreements you choose. Common ones include employee theft, forgery or alteration, theft of money and securities on or off premises, computer fraud, funds transfer fraud and counterfeit money.
Many crime policies do not cover a staff member being tricked into sending money, known as social engineering fraud, unless it is added by endorsement, often with a smaller limit.
Policies are written on a loss-sustained or discovery basis, which affects when losses must occur and be found. Some require you to report and prove the loss within set time frames.
Not sure how your policy handles this? Have us review it, or get a quote.
Example
Hypothetical: an apartment property manager discovers a bookkeeper has diverted $80,000 of rent deposits over two years. An employee theft insuring agreement would typically respond, subject to the limit, deductible and discovery terms.
What to Watch For
- Choose the insuring agreements that match how money moves in your business.
- Ask whether social engineering is covered and at what limit.
- Use controls such as dual approval and call-back verification for payments.
- Know your policy's discovery and reporting deadlines.
Common Questions
Does my property policy cover employee theft?
Usually not. Employee dishonesty is commonly excluded, which is why crime coverage exists.
Is cyber insurance the same as crime insurance?
No. Cyber policies focus on data breaches and system attacks, while crime policies focus on theft of money and property. Some fraud losses fall in between, so compare both.
Last updated October 14, 2026 · Primesure editorial team · How We Write