Commercial Crime Insurance
Though you strive to hire the best employees and trust them to represent your business, trust is not enough to protect yourself. Get financial protection from the risk of internal theft and fraud.
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Trusted by over 250,000 Canadian small business owners!
Save up to 35% on your insurance
Instant price and coverage in just a few clicks!
Partnerships with over 50 leading Canadian insurance providers
Partnerships with over 50 leading Canadian insurance providers
Why Choose Zensurance?
We help Canadian business owners save time and money by providing
a convenient and affordable way to buy business insurance.
Convenience
Purchase your insurance anytime, anywhere, with our easy-to-use online platform.
Cost
Compare rates across leading insurance companies to ensure you get the best price on your premium.
Curation
We use data and analytics to identify the right insurance policies for your business.
Claims Examples
Problem: An employee consistently steals small amounts of money from a cash register or company safe for three months. By the time you discover the missing money, you’re out $1,200.
Outcome: Your commercial crime insurance may cover the cost to replace the stolen funds.
Problem: An employee lifts a cheque from your office for $700 made payable to your business, commits forgery, makes it payable to themselves, and cashes it through their own bank account.
Outcome: Your commercial crime insurance may cover the loss resulting from the forgery.
Commercial Crime Insurance, Explained.
What is commercial crime insurance?
Commercial crime insurance is designed to protect business owners from financial, securities, and inventory losses because of internal theft committed by employees. Commercial crime insurance can be purchased as a standalone policy or added as an endorsement to your existing business insurance policy.
Who needs commercial crime insurance?
Every small business in any industry should have commercial crime coverage as part of its overall insurance policy. On average, it’s estimated employees steal about $2,500 in cash or goods from their employer before they’re caught.
What does it cover?
Commercial crime insurance provides coverage for a broad range of crime including forgery, embezzlement, computer and wire transfer fraud, and other acts of employee dishonesty. It features coverage for full- and part-time employees, and temporary employees providing services at your premises. It also covers the theft of money while in transit outside of your premises, for example, if funds are stolen from a delivery person or armoured car company.
What is not covered?
A commercial crime insurance policy does not include coverage for damage or loss resulting from burglary, robbery, or break-ins. It also does not provide coverage for damage or loss to your business equipment or inventory committed by external actors. You require commercial property insurance to protect those assets.
How much does commercial crime insurance cost?
A commercial crime insurance policy with a limit of $100,000 costs approximately $250 annually. What it will cost you depends on a variety of factors. An insurance company considers the following when determining the cost of your premium:Â
- The industry you’re in and the services and goods you offer
- Years of experience
- Number of employees
- Annual and projected revenue
- Your insurance claim history
What is the difference between crime insurance and fidelity insurance?
Though commercial crime insurance and fidelity insurance (also called fidelity bonds) are similar, both coverages are designed to protect a business from specific types of risks.Â
Think of fidelity insurance as a form of commercial crime insurance that protects your company from certain fraudulent acts.Â
Commercial crime insurance is designed to cover your business from theft committed by an employee, including losses or liabilities.
Frequently asked questions
Your commercial crime insurance kicks in after filing a claim. It can be claimed on either a discovery basis (when you realize there is a loss while your policy is active or up to 60 days after the policy has been terminated) or loss-sustained basis (covers incidents during the policy period as well as losses that occurred under a prior crime policy).
No. Commercial crime insurance is not designed to cover acts of violence in a workplace. However, some insurers may include coverage for things such as kidnapping and ransom.
No. Commercial crime insurance is not designed to protect you from social engineering fraud. For protection against social engineering, that is an optional type of coverage you can include in your policy when purchasing cyber liability insurance.
Other business insurance coverage options to consider:
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- I received prompt attention, expert advice, and instantaneous delivery of my documents.Michael Fitzgibbon11/13/2023Great experience. Like many other business owners, I am very busy to take care of little but important things such as insurance renewals. Zensurance helps a lot!Ali Reaziat11/13/2023What a wonderful team. Such an east process. Shout out to Justin J, Thank you so much 😊Linda Solarz11/11/2023
- Billy was great, very helpful in getting me insurance. I am impressed with their services so far.Peter Ho11/11/2023I worked with Daniel Kelly to update my business insurance. She was very responsive and easy to work with. Would recommend them!Brett Riches11/10/2023Fast and efficient serviceDinesh Bandho11/10/2023
- Cheapest prices, very personal, informative and they disclose everything. Very transparent! Brook sparkstopkis has been amazing and sent me all information needed in no time flat. Wish i could give a better review than 5 stars. 3 years of being a customer and i appreciate them so much.anders markeli11/09/2023Dealing with Shelly Petrie was a breeze. I highly recommend asking for her when buying insurance.Matthew England10/15/2023professional and helpful beyond the formalPeter Lipreti10/14/2023
Ready to start? Let’s get a quote!
Finding commercial crime coverage you need to protect your business shouldn’t be complicated. Let us take the hassle of finding the customized policy you need at the best price available off your hands, so you can focus on running your business.
 Fill out an online application to get a free, non-obligatory quote.Â