Just as it sounds, crime coverage is protection against loss of money or securities from theft, burglary or embezzlement.
A standard property policy only covers a limited amount of physical cash, but we all know that when our congregants give tithes and offerings, it’s the church’s responsibility to protect those gifts. What you may not know is that employee theft is not covered under your standard policy. Crime insurance protects the church’s financial assets from:
- Employee Dishonesty: Theft of money, securities or property by a member of staff. This includes the church’s money and money it’s holding for others (mission’s funds, fundraising, etc.)
- Computer Fraud and Transfer Fraud: With the world of banking going digital, churches are exposed to wireless financial theft as well. Our crime package can include protection from funds fraudulently transferred via computer out of your accounts.
- Forgery or Alteration: This coverage protects the church from loss due to forgery or alteration of checks, bank drafts, promissory notes or other financial documents made against your accounts, as well as the applicable legal defense costs.
- Disappearance or Destruction: Crime insurance can cover more than just the theft of money. Disappearance or destruction is exactly that, coverage against the disappearance or destruction of money and/or securities from within your building or bank account. In addition, it covers the loss or damage to your locked building, safe, vault, cash box, cash drawer or other container caused by the unlawful entry.
- Outside the Premises: Ministry is never static, so we are exposed to loss outside the four walls of the church and its bank account. This option covers theft while in the custody of a messenger or armored motor vehicle company as well as damage to property sustained during the actual or attempted robbery.
- Outside the Premises: Ministry is never static, so we are exposed to loss outside the four walls of the church and its bank account. This option covers theft while in the custody of a messenger or armored motor vehicle company as well as damage to property sustained during the actual or attempted robbery.
Call the experienced insurance agents at Beacon Insurance Agency to learn more about the insurance coverage we provide today!