Crime: 3rd Party Crime

Written By Jovelyn Avila (Administrator)

Updated at July 27th, 2024

Third-party crime Coverage is a crucial aspect of your business insurance, designed to protect your company if an employee or independent contractor steals from a client's premises. This is especially important in the home service industry where your staff regularly enter clients' homes or workplaces.

Imagine you run a blind installation business. One of your contractors, while working at a client's home, steals an expensive electronic device. When the theft is discovered, the client holds your business accountable. Without Third-Party Crime Coverage, your business could face serious financial repercussions including legal costs and compensation claims. However, with this coverage, your insurance would take care of these expenses, safeguarding your business's financial health and reputation.

Third-Party Crime Coverage is essential for:

  • Protecting your business from financial losses due to theft committed by your employees or contractors at a client's site.
  • Preserving your company's reputation and client trust in the event of such incidents.
  • Ensuring that your business can continue to operate without the burden of unexpected financial liabilities.