Business Crime Insurance


Business owners have more opportunities than ever to create and sustain their companies. This means that criminals looking to steal your hard-earned money also have more ways to do so than ever before. A lot can go wrong, even when things are going right. Theft from both that outside and inside of your organization, fraud, and copyright forgeries can harm your business financially. Even worse, many crimes may go unseen until much later and delay the effects to your company until it all hits your bottom line at once.

Don’t get blindsided by criminals looking to earn a dishonest buck. Explore the world of crime insurance and how it can help you protect your business against a range of criminal activities.

How Much is Crime Insurance?

In the state of Texas, the average business owner spends $240 to $4,000 a year on standalone crime insurance. Considering the substantial financial responsibilities businesses may have after a crime-related loss, a proper crime insurance policy is a sound investment to protect your company’s wealth. Having to restore property that has been stolen or pay to restore your losses due to forgery or fraud can be quite a mountain to climb. Replenishing cash without the right protection is virtually impossible. Big or small, businesses benefit from crime insurance as criminals continue to find new ways to make a dishonest living.

What Does Crime Insurance Cover?

A crime insurance policy will protect your business from a number of perils including burglaries, employee theft, forgery, fraud (including computer fraud), the theft of money and securities, copyright issues, and other employee-related crimes. Additional endorsements may be available including protection against cybercrimes, depending on your insurance provider.

Factors That Determine Your Crime Insurance Rates

Creating your insurance rate comes down to risk assessment, and while each insurance brand may use a different approach, the end goal is to determine the amount of risk you pose as a client. Factors such as the location of your business and your property’s security features will all go into how much you’ll pay for crime insurance. The higher of a risk you are, the more you can expect your rate to be and vice versa.

Texas Cities With the Highest Crime Rates

The majority of our beloved Lone Star State is filled with hardworking Texans who build extraordinary things. Unfortunately, even we are not immune to criminal activity. Crime can affect you anywhere, but here are some of the cities in Texas that experience the highest crime rates:


Image Content Source: Texoma’s

It doesn’t matter if you are in a small rural town, a growing suburb, or in the heart of a bustling city, you’ll need to protect your business against criminal activities with the appropriate crime insurance policies.

Crimes Against Businesses Are Evolving Online

Having your company’s funds stolen online continues to be a growing threat for businesses as transactions become more and more digital. There is also the responsibility of keeping sensitive information of vendors, partners, employees, and customers safe. This is why endorsements for cyber crime insurance policies are growing in popularity. Keep yourself safe in real life and online by assessing your business’s online operations and gaining the necessary insurance products to protect them.

Other Forms of Business Insurance to Consider

Crime insurance will protect your business from criminals, but business owners have many other needs when it comes to protection. There is property damage to protect against, liability concerns, commercial auto insurance needs, and even business interruptions that can delay your operations. The nature of each business is different and so too are the needs of those businesses in terms of an insurance policy. Working with a licensed insurance agent can help you determine the best course of action for your company to avoid financial losses and additional headaches down the road.

Commercial Crime Insurance Discounts

Insurance companies are looking at the amount of risk you pose as a client and discounts may be available for businesses that take steps to prevent perils from occurring. For example, having a security presence, a security system on your company’s property, or other preventative measures are a deterrent for criminals. This means less risk for you and your insurer which can lower your rate in some cases. 

Another potential discount is holding multiple policies with an insurer. Brands love it when companies purchase more than one form of business insurance and depending on the nature of your business, you’ll likely need multiple policies to avoid coverage gaps.  Multi-policy discounts are great ways to receive the protection you need all while saving money in the process.

Each business is different and so too are the discounts they qualify for. Speak with your insurance agent to learn more about ways you can save on commercial crime insurance through discounts.

Crime Insurance Coverage in Texas

Crime is an unfortunate part of life and no matter where your business is located, there is always the threat of crime-related losses. Since 2005, Freedom Insurance Group has been helping businesses protect themselves from crimes through quality insurance products built to protect for less.

We’ve partnered with over 25 top-rated insurance brands to deliver our clients a range of crime insurance options at the lowest price on the market. By comparing your coverage needs among various insurance brands, we can find a lower price than an individual insurance provider meaning less money taken from your company’s bottom line. Get a free crime insurance quote or contact us today. Our average client saves 40% when switching!

FAQs on Crime Insurance for Businesses in Texas

Working with businesses large or small across Texas is why we are here. Freedom Insurance Group is proud to be a resource that helps business owners protect their companies against crime and other potential hazards. If you are in need of guidance for coverage needs, feel free to contact us. However, we do receive some questions more often than others. Our agents are here for you, but these frequently asked questions (FAQs) can help guide you across some of the more common obstacles business owners like you are facing.

What Is Crime and Fidelity Insurance?

Fidelity bonds will protect your business from crimes committed by your employees, but crime insurance will also include additional crime-related perils including burglaries, cybercrimes, copyright infringements, and more.

What is Cyber Crime Insurance?

A cyber crime insurance policy is coverage that protects your business from data breaches online that affect your company and/or your customers. While intellectual property is not covered, any business conducting financial transactions should hold a cyber crime policy because of the increase and sophistication in attacks criminals are using to target financial information.

Your cyber crime insurance policy protects in two ways:

  1. Coverage for your business related to a data breach including expenses regarding data recovery.
  2. Protection for losses that affect your customers and partners in the aftermath of a data breach.

Cyber crime insurance policies cover legal expenses and include business interruption protection.

How Much Crime Insurance do I Need in Texas?

The amount of coverage your business needs will depend on a variety of factors including:

  • The size of your business.
  • The nature of your business.
  • The volume of data your company is responsible for safeguarding.
  • The amount of risk your business is willing to take.

Overall, while all businesses can benefit from crime insurance policies, the amount of coverage you need will vary. This is why we encourage all business owners to speak with an agent to audit their coverage needs for a customized approach to their insurance needs. Contact one of our experts today to avoid coverage gaps and overpaying for your protection.

Contact Us

Freedom Insurance Group
3861 Long Prairie Rd Ste 110
Flower Mound, TX 75028
Phone: (972) 798-3769


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