Theft of property or securities is a disturbing occurrence that can leave a small business with significant financial setbacks. Furthermore, theft is not only the domain of those unknown to you and your business. It can take place at the hands of dishonest employees too. Here's how Zest Insurance can help.
What is Business Theft insurance?Business Theft insurance pays for loss or damage caused by theft, or attempted theft, including (but not limited to) forcible entry into your building, a person being unlawfully concealed at the insured location, an armed hold up, assault or violent act, or visible entry into any locked cabinet, counter or showcase. Extensions are also provided which cover employee dishonesty, illegal EFTs from your bank account, and more.
Why do you need Business Theft insurance?
Business Theft insurance covers the cost of stolen goods, inventory, and equipment, which minimises the financial impact of theft on your business.
It also covers losses due to dishonest employees, ensuring the business isn’t financially burdened by internal theft.Business Theft insurance helps the business recover quickly, reducing downtime and enabling continued operations after a theft. In cases where theft involves breaking and entering, theft insurance can also cover repair costs for damaged property.
Having Business Theft insurance helps to ensure your business is insured against potential theft-related losses, allowing you to focus your time and energy on growing your business.
Choose which cover you want, according to your business needs.
Search for your Business or Occupation to see your tailored cover.
Key features of Business Theft insurance from Zest Insurance:As well as to paying for loss or damage up to the applicable sums insured, our Business Theft insurance offers additional cover including (but not limited to)*:
Death BenefitPaid to the estate of any person who suffers injury while protecting insured property and subsequently passes away from those injuries within 12 months.
Removal of debris and security
Cleaning up, removal and disposal of debris caused during a theft related break in to your premises.
Cost of temporary repairs and employment of security guards to ensure the safety and protection of your property following a theft incident.
Data and record reproduction costs
Costs for reproducing any Electronic Data contained on any Electronic Data Processing Media.
Costs associated with reproduction of business records.
Employee DishonestyLoss of insured property resulting from crime committed by an Employee acting alone or in collusion with others.
Illegal EFTs and Corporate CardsFinancial loss sustained from:
Unlawful electronic transfer of funds from your bank account to a bank account not controlled by you.
Illegal use of a corporate card.
Locks or Electronic Security SystemsCosts relating to the necessary replacement or adjustment of locks or electronic security systems at the insured location following theft or accidental loss of keys or access cards.
* Please refer to the Zest Insurance policy documentation, underwritten by Chubb Insurance Australia Limited, for full details of cover!
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Consider the impact theft could have on your businessHere are some examples of potential Business Theft insurance claims that illustrate how easily theft can impact small businesses**:
Marketing ConsultantFollowing a break in which appeared to focus on the theft of digital camera equipment from the agency studio, the Managing Director receives a call from her bank. Suspicious transactions have occurred, and it’s found that the company card usually reserved for paying utilities bills has been stolen, with the thieves making a range of high value, online purchases.
BookkeeperA bookkeeper’s office premises are broken into and the thieves unsuccessful attempt to break into the safe, damaging it in the process. They steal a petty cash box, two laptops and destroy many paper-based client records saved in a series of filing cabinets.
IT ConsultantAfter breaking into the office of an IT Consultant and stealing a range of IT equipment, the thieves leave the kitchen tap running. It’s a long weekend and the break in is not discovered for three days, leading to a hefty water bill.
** These examples are hypothetical, based on the types of scenarios that could potentially lead to a Theft insurance claim for a small business. All claims are assessed by Chubb on a case-by-case basis and are subject to the terms, conditions, exclusions and limits of the Chubb Multipack Policy Wording.
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