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.
Trusted by over 300,000 Canadian small business owners!
Save up to 35% on your insurance
Instant price and coverage in just a few clicks!
Trusted by over 300,000 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:
- 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.
Think of fidelity insurance as a form of commercial crime insurance that protects your company from certain fraudulent acts.
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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- Angela Grigg was awesome to work with. the process was very smooth and clear. Thanks for your helpHalyna Uvarova7/24/2024Had a great experience working with Julianne Katz as she walked me through the different insurance options and what they mean! I highly recommend their service.Sam Gabrail7/24/2024Bernard was very professional and helped us through the processMohd Adnan Khan7/23/2024
- Good service , I renewed my policy for the 3rd time, the zensurance team helped me to get the best option on the market that will suits my companyVladimir Perciun7/23/2024Staff are extremely helpful and attentive. They are very quick with their response time and turnaround time. I would highly recommend Zensurance to anyone!Tyson Buchannon7/23/2024Very helpful and reasonable rates. Bernard Albano worked with me to find the right insurance policy for my business and he reached out to be sure I had answers to all my questions. I would recommend Bernard and Zen insurance.Rachel Kruyf7/22/2024
- Received great service and all questions answered quickly. Happy customer!AL DL7/21/2024Thank you Zen insurance. Isha assisted me, very polite, quick to respond, and really went one by one of what my coverage entails. It's the best idea as a Landlord to get an good rare and reliable insurance.Alexandra Mendizabal7/19/2024Very responsive and responsible. Highly recommended!Anđela Nikolić7/19/2024
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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.
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