Revolutionize Crime Insurance Certificates Construction's Best-kept Secret
Financial Considerations and Cost-Benefit Analysis
The cost of crime insurance varies based on factors such as the size of the business, the level of coverage required, and the risk profile of the company. Typically, premiums are calculated as a percentage of the total coverage amount. While this may seem like an additional expense, the cost of not having insurance can be far greater in the event of a significant loss.
For example, a medium-sized construction firm might pay a few thousand dollars annually for crime insurance, but this investment could save millions in potential losses from a major theft or fraud incident. Furthermore, some insurers offer discounts for businesses that implement strong security measures, such as surveillance systems and employee background checks1.