Armed Robbery
Cash stolen from the cashier's counter or drop safe while the store is open. Coverage reimburses lost funds and protects against physical register damage caused during an armed hold-up.
Coverage
Crime and Employee Dishonesty Insurance for Convenience Stores
Protect your cash and high-value inventory from internal theft and external robbery.
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Crime insurance for convenience stores is for financial losses if there is a theft. This coverage covers two separate risks: outside crime (robbery, burglary) and inside crime (employee dishonesty insurance, fidelity bond). Convenience stores are highly vulnerable on both sides, dealing in large quantities of cash, high-dollar merchandise, and often working late or around the clock.
What's covered
What Crime Insurance Covers
A commercial crime policy includes both external (break-in) and internal (employee theft) crime. Some of the best examples for convenience stores include:
Know the gaps
What It Doesn't Cover
Commercial crime insurance is designed to cover specific stealing events. It does not cover the following:
Do you need it
Who Needs Crime Insurance
Almost all convenience stores require crime insurance. Stores process a lot of cash payments and sell off goods such as tobacco and alcohol readily. The two main exposures to armed robbery and internal theft are further compounded with extended or 24-hour operating hours.
It's needed in a store that has more than one employee against internal losses. Overnight shifts that are not directly watched over by owners have some serious risk of internal theft. When an employee is dishonest, employee dishonesty coverage, also called a commercial fidelity bond, protects your store's cash flow.
Pricing
What Crime Insurance Costs
The annual premium will be based on the average cash on hand, inventory value, employee numbers, operating hours, and security measures. Installing drop safes, security cameras, and alarm systems helps reduce your rate.
Typically, adding crime and employee dishonesty coverage to a business owner's policy will cost $200-$500 per year, or $17-42 per month. Read our full guide to convenience store insurance costs for a complete price breakdown.
What a claim looks like
Example Claim
A store audit reveals a $6,500 cash shortfall built up over four months due to a night clerk falsifying register receipts. Once management documents the fraudulent transactions, employee dishonesty insurance reimburses the store $6,500 for the stolen funds, minus the deductible. Carrying this protection ensures an insider theft scheme doesn't permanently damage your store's bottom line.
How it fits
How It Fits With Your Other Coverage
Crime insurance protects the money or property that is stolen. On the other hand, Commercial property insurance covers physical damage that occurs during a break-in, like broken glass or broken doors. Most retail store owners require both coverages to operate following a burglary.
The power of choice
We shop 30+ A-rated carriers so you don't have to.
- Travelers
- The Hartford
- Chubb
- Liberty Mutual
- Nationwide
- Zurich
- CNA
- Progressive
- Philadelphia Insurance
- Berkshire Hathaway GUARD
- biBerk
- AmTrust
- Employers
- Grange Insurance
- Columbia Insurance
- Encova
- Admiral Insurance Group
- Attune
- Coterie
- ERGO NEXT
- AmWINS
- CRC Group
- RT Specialty
- Burns & Wilcox
- Jencap
- Bass Underwriters
- Jimcor Agencies
- CharityFirst
Common questions
Frequently Asked Questions
Does crime insurance cover shoplifting?
Yes, crime insurance can cover losses from shoplifting, depending on your policy. Coverage may help protect your business from theft of inventory, cash, or other property. Check your policy for specific limits and exclusions.
Do I need employee dishonesty coverage if I trust my staff?
Trust is important, but employee dishonesty coverage provides financial protection if an employee steals money, property, or other business assets. It can help protect your business from unexpected losses.
Get Covered
Keep your retail business safe from theft, robbery, and employee dishonesty losses. Contact our experienced insurance agent to add crime and employee dishonesty coverage now through Insure C-Store.