Any business owner’s worst nightmare is coming in to their business and seeing signs of a break in. Tables and chairs overturned, windows broken, and worst of all, the cash register and safe deposit box are both gone. This scene is all too common in the restaurant world, where criminals target restaurants knowing that there is a substantial amount of cash on the premises that will be taken to the bank the next day. If your restaurant were the victim of a theft, would you be able to bounce back and make up for the immense losses? If you answered no, then having a theft policy written into your property insurance should become a priority, and the RPA team is here to help you find the best coverage needed to protect every inch of your business.
Business Theft Insurance
Theft Insurance generally will cover the losses that a restaurant incurred from theft as long as a police report has been filed. In many instances, theft in a restaurant is not as obvious as a broken window or a busted cash register. Each year, billions of dollars are lost to internal theft by an employee, one of the newer issues that the restaurant industry has had to find ways to combat over the last decade. Employee theft coverage differs from basic theft insurance, as employee theft coverage, also known as employee dishonesty coverage, will protect your business against employees taking advantage of the business and stealing for personal gain. This type of coverage will protect against a variety of theft, whether it be an employee stealing a computer, or an ex-employee who embezzled funds for months before leaving the company. Employee theft also covers forgery, which is common in industries where credit cards are used, but a cash tip is given, like restaurants, pizza delivery, and bars.
If your restaurant has fallen victim to theft in the past, or if you suspect that employees may be stealing from your business, securing a theft insurance policy that covers your business, both from the inside and outside, will protect you from any additional losses that the restaurant may incur. To get started with adding these overages to your current policy, speak with a Restaurant Programs of America representative by calling 844-358-2296.