--- title: Are your Employees Stealing from you? Are you sure? description: Did you know that one of the largest threats to small businesses is employee theft? Do you need insurance? image: https://www.sutherland-scherff.com/hs-fs/file-13461962-jpg/images/are_your_employees_stealing_from_you_are_you_sure.jpg --- [![logo](https://www.sutherland-scherff.com/hs-fs/file-2124776912-png/image/logo.png)](https://www.sutherland-scherff.com/) [![Facebook](https://www.sutherland-scherff.com/hs-fs/file-2124776847-png/image/f.png)](http://www.facebook.com/pages/Sutherland-Scherff+Insurance+Services,+Inc./259814816749)[![Twitter](https://www.sutherland-scherff.com/hs-fs/file-2123924931-png/image/t.png)](http://www.twitter.com/SutherlandIns)[![YouTube](https://www.sutherland-scherff.com/hs-fs/file-2124776862-png/image/y.png)](http://www.youtube.com/user/SutherlandIns)(888) 400-1133 # The Insurance Family Blog ## [Are your Employees Stealing from you? Are you sure?](https://www.sutherland-scherff.com/blog/bid/61548/Are-your-Employees-Stealing-from-you-Are-you-sure) Posted by [Susie Scherff](https://www.sutherland-scherff.com/blog/author/susie-scherff) on July 28, 2011 at 9:37 AM - [Tweet](https://twitter.com/share) ![Are your Employees Stealing from you Are you sure](https://www.sutherland-scherff.com/hs-fs/file-13461962-jpg/images/are_your_employees_stealing_from_you_are_you_sure.jpg?width=263&height=255&name=are_your_employees_stealing_from_you_are_you_sure.jpg)Did you know that one of the **largest threats to small businesses** is employee theft? - 60% of inventory losses are cause by employees - U.S. retailers and small businesses lost $33 billion in revenue last year due to theft - Employee theft is on the rise according to national statistics and company surveys - Businesses lose 20% of every dollar to employee theft - 75% of employees steal from work and most do repeatedly - 30% of corporate bankruptcies result from employee theft These alarming results convey that small business owners should be wearier of their own employees than shoplifters.  **Almost every business needs crime insurance**. While it's important to have the right coverage to protect against crimes committed by outsiders, it's also important to have the right coverage to protect against crimes committed by employees. ## **Does commercial insurance protect you from employee theft?** It is important to understand that **commercial policies** cover most types of thefts such as those of stock or other contents.  What you may not realize is that money and securities do not qualify as covered property so they would not be covered under your commercial policy.  To cover for this type of theft, a business would need to endorse their policy or purchase a crime policy, which would cover you inside and outside the premises. ## **Does property insurance protect you from employee theft? ** In addition, **employee theft is almost always excluded on a property policy**. Unfortunately, even a crime policy doesn't provide the coverage you need to protect against a theft committed by an employee. To cover your business against employee theft, **business requires an employee theft policy**. Some basic tips on preventing employee theft in your business are: - Properly train employees on safe money handling. - Have a safe on premise and safeguard the key/combination. - Do not leave cash in the register overnight and leave the register drawer open. - Change your route to the bank daily. - Keep the interior and exterior of the building well lit. - Develop a standard opening and closing procedure. - If you have an alarm system, arm it and change the passcode regularly. However, to ensure maximum coverage against employee theft, contact Sutherland-Scherff to review your insurance policies!     Topics: [Building Insurance](https://www.sutherland-scherff.com/blog/topic/building-insurance), [restaurant insurance](https://www.sutherland-scherff.com/blog/topic/restaurant-insurance) ### **Subscribe** To Our Blog ### Most Popular Posts ### Browse by Tag - [Business Insurance (28)](https://www.sutherland-scherff.com/blog/topic/business-insurance) - [Auto Insurance (22)](https://www.sutherland-scherff.com/blog/topic/auto-insurance) - [restaurant insurance (22)](https://www.sutherland-scherff.com/blog/topic/restaurant-insurance) - [Home Insurance (17)](https://www.sutherland-scherff.com/blog/topic/home-insurance) - [Building Insurance (12)](https://www.sutherland-scherff.com/blog/topic/building-insurance) - [Homeowners Insurance (10)](https://www.sutherland-scherff.com/blog/topic/homeowners-insurance) - [Insurance (10)](https://www.sutherland-scherff.com/blog/topic/insurance) - 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