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Matching commercial crime coverage

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Commercial crime insurance covers losses of money, securities and property from employee dishonesty, forgery, robbery and burglary, computer fraud and fraudulent funds transfers; third-party (client) coverage protects businesses whose staff work in customers' homes and offices. Carriers rate it on headcount, the money you handle, your controls over payments and the limit. CoverMatch compares each insuring agreement's limit, the deductible, and whether social-engineering fraud is included.

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Reviewed by Michael LaBarbera, Licensed property & casualty agent, Provident Financial Group · Reviewed Oct 11, 2026 Updated
Coverage scoreEvery policy in one wallet
Commercial CrimeRenews in 47d
Workers' CompensationLive cert ✓
Business Owner's PolicyCan switch
CoverMatch Your cleaning contracts ask for third-party crime coverage naming the client. One quote includes it; the other would need an endorsement.
01 / WHAT UNDERWRITERS ASK
  • Number of employees and how many handle money, payments or inventory
  • Payment controls: dual approval on wires, bank reconciliation, segregation of duties
  • Cash on hand and in transit
  • Whether employees work in customers' premises
  • Background checks at hiring
  • Prior theft or fraud losses
02 / WHAT MOVES THE PRICE
  • Limit per insuring agreementEmployee theft and funds-transfer limits are set separately; each drives the premium.
  • ControlsDual approval and reconciliation practices earn credit and are sometimes required for social-engineering coverage.
  • Headcount with accessMore people handling money or inventory means more exposure.
  • DeductibleA higher deductible lowers the premium on each agreement.
Direction only — the carriers' quotes carry the figures.
03 / HAVE READY
  • Headcount and the roles that handle money
  • A short description of your payment approval and reconciliation practice
  • Client contracts that require third-party crime or a fidelity bond
  • Your current crime policy or the crime section of your BOP

The insuring agreements

A crime policy is a list of separate agreements, each with its own limit: employee theft, forgery or alteration, inside the premises, outside the premises, computer fraud, funds-transfer fraud, money orders and counterfeit currency, and, by endorsement, social engineering and client (third-party) coverage. The comparison puts each agreement on its own row, so a quote that is cheaper because two agreements are missing is visible.

Controls and the quote

Carriers ask about payment approvals because the controls that stop fraud are the ones they price. Dual authorization on wires and verified call-backs for bank-detail changes are often a condition of social-engineering coverage; the application asks so you know before a quote excludes it.

Crime and cyber overlap

Funds-transfer fraud can be covered under crime, cyber or both, at different sublimits. If you carry both policies, the comparison notes where each quote places it so the coverage is not double-counted or missed.

After you buy

The policy card lists each agreement's limit, client-required certificates issue from the wallet, and the renewal restates headcount and controls for a fresh quote.

Questions people actually ask

Doesn't my property policy cover theft?

It covers theft of property by outsiders in a burglary. It excludes employee theft, forgery, money and securities beyond small limits, and fraudulent transfers. Those are crime coverages.

What is social-engineering coverage?

Coverage for being tricked into sending money to a criminal posing as a vendor or executive. It is often a sublimit on crime or cyber policies and is where most small-business fraud losses land; the comparison shows the sublimit per quote.

My client asks for a fidelity bond. Is that the same thing?

A fidelity bond is employee dishonesty coverage, usually written to protect the client. Third-party crime coverage on your policy serves the same purpose; the comparison shows whether each quote includes it.

Do owners' acts count as employee theft?

No. Crime policies exclude theft by owners and partners; the coverage is for employees.

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