Kansas Crime Insurance

People in Kansas who own businesses and homes face numerous risks which may result in financial loss. These risks include:

• Robbery or burglary
• Employee dishonesty
• Fraudulent activities on the property
• Forgery or alteration of checks
• Theft of money or securities
• Losses due to computer fraud
• Identity theft or credit card fraud
• Losses due to wire transfer fraud
• Vandalism or malicious mischief
• Data breach and cyber-attack losses resulting from hackers

To protect against these risks, Kansas requires businesses and homeowners to purchase crime insurance coverage. Crime insurance covers financial losses resulting from theft or criminal activities, including burglary, robbery, or employee dishonesty.

Crime insurance in Kansas costs approximately $350 per year for businesses. The cost of crime insurance can vary significantly depending on a number of factors which include:

• The type of coverage - Crime insurance coverage can include perils such as theft, forgery, and computer fraud. Additionally, companies may need to purchase coverage for cyber-attacks or data breaches.
• The size of the business - Larger businesses require more extensive crime insurance coverage than smaller businesses. Therefore, larger companies pay higher annual premiums than their smaller counterparts.
• The location of the business - Businesses in certain areas with higher crime rates usually have to pay more for crime insurance than those in safer locations.
• The type of industry - Companies in industries prone to theft or vandalism may be required to pay a greater premium than those in less risky industries.
• The risk level- Companies with a higher risk of experiencing criminal activity will be charged a higher premium for crime insurance coverage.
• Deductibles - The deductible is the amount of money the insured must pay before the policy kicks in. Generally, higher deductibles mean lower premiums. However, be aware that choosing a high deductible could result in high out-of-pocket costs if you experience a loss.
• Policy limits - Policy limits are the maximum amount of money that an insurer will pay out for a particular loss. Higher policy limits mean higher premiums, so it’s important to ensure you have adequate coverage without paying too much.

It's important to contact a reputable insurance provider such as WINN Insurance Group to ensure you get the right coverage for your business's needs. Our experienced agents can help you evaluate your individual risks and choose an appropriate policy that meets your needs. 

They will also be able to answer any questions you have about crime insurance coverage and advise on how to best protect your business from financial losses due to criminal activity.

At WINN Insurance Group, we have more than 75 years of experience helping businesses in Kansas protect their assets from the financial losses that can occur due to criminal activity. Our knowledgeable agents understand the unique risks that local businesses face and are dedicated to finding the best coverage for your needs.

We offer a wide range of crime insurance policies specifically tailored for companies in our region, including coverage for malicious damage, vandalism, theft, burglary, embezzlement, and more. We strive to provide competitive rates without sacrificing quality or service, so you can be sure you're getting the most out of your policy. Our agents also carefully examine each client’s individual risk factors to ensure they get the right coverage and premium amount for their situation.



Contact us today to learn more about our crime insurance policies and how we can help you protect your business from the financial losses caused by criminal activity.

In Kansas, any business or individual who handles money, assets, or other valuable goods should consider purchasing crime insurance. They include:

a) Banks and Credit Unions - Crime insurance can cover losses due to employee theft, robbery, and forgery.

b) Retailers - Store owners may purchase crime insurance to protect their businesses against shoplifting, employee theft, and vandalism.

c) Gas Stations - Gas stations are vulnerable to robberies and other types of criminal activities, so they need sufficient coverage.

d) Restaurants - From employee theft to fraudulent transactions and armed robberies, restaurants risk losses from various criminal activities.

e) Construction Companies - Contractors can be held liable for various crimes their employees committed, such as fraud or property damage. 

f) Manufacturers - Companies that produce goods may need crime insurance to protect them from employee theft, embezzlement, and other types of financial losses.

g) Hotels - Hotels are particularly vulnerable to theft and burglary, so they need sufficient coverage.

h) Non-profit Organizations - Crime insurance can help non-profits protect their assets if they suffer a loss due to fraud or embezzlement by employees or volunteers.

i) Security Firms - Security firms often handle large amounts of money when performing their services, making them prone to criminal activities like robberies and thefts. 

j) Educational Institutions - Schools and universities can also benefit from crime insurance to protect their assets against losses resulting from theft, fraud, embezzlement, and similar crimes.

k) Health Care Providers - Hospitals and health care providers often handle large amounts of money and valuable equipment, making them targets for criminals. Crime insurance can provide added protection in these cases.

l) Real Estate Companies - Real estate companies may also purchase crime insurance to protect themselves against losses resulting from employee theft or fraud.

Crime insurance is essential for these organizations to protect their assets and comply with regulations.

Crime insurance in Kansas is a type of commercial liability insurance that provides financial protection for businesses and other organizations against losses resulting from criminal acts.

The most common types of crime coverage available are:

a) Employee Dishonesty 

Employee Dishonesty coverage protects businesses from losses resulting from dishonest acts committed by employees. This includes embezzlement, misappropriation of funds, and other fraudulent activities that can lead to financial loss or damage.

b) Robbery or Burglary

Robbery or Burglary coverage protects businesses against theft or destruction caused by burglars and robbers. It covers the loss of money, securities, property, and other assets due to criminal activity.

c) Forgery or Alteration

Forgery or Alteration coverage protects businesses from losses resulting from forged documents and alterations made without their authorization. This type of crime insurance covers losses due to fraudulent activity such as check forgery, counterfeiting of documents, unauthorized changes to records, and other forms of fraud.

d) Funds Transfer Fraud

Funds Transfer Fraud coverage protects businesses from losses from electronic funds transfers made without authorization. This type of crime insurance covers the loss of money or assets due to illegal withdrawals from accounts, online scams, and other criminal activity involving electronically transferred funds.

e) Social Engineering

Social Engineering coverage protects businesses against losses caused by social engineering activities. This includes cyberattacks such as phishing attempts, identity theft, scam emails, and phone calls where criminals attempt to gain access to sensitive information or money. This type of crime insurance covers losses due to these fraudulent activities.

f) Theft of Business Property

Theft of Business Property coverage protects businesses from loss or damage due to theft. This type of crime insurance covers losses from the unauthorized taking of money, inventory, and other assets owned by the business. It also offers coverage for losses resulting from employee dishonesty or theft by third parties.

g) Computer Fraud or Restoration

Computer Fraud or Restoration coverage protects businesses from losses resulting from hacking attempts, computer viruses, and other unauthorized access to their network. This type of crime insurance covers the cost of restoring any corrupted data or programs as well as lost funds due to fraudulent activities involving computers.

When determining your crime insurance coverage needs in Kansas, there are a few key factors to consider.

• Consider the type of business you own and the specific risks it faces, such as cyberattacks, employee theft, or digital fraud. This will help to determine what types of crime insurance coverage you need.
• Examine your existing policies closely to ensure they cover all risks associated with your business activities. Understanding each policy’s limits and exclusions is important to determine which form of crime insurance coverage is best for your situation.
• Be aware that different forms of crime insurance may have different coverage limits and deductibles, so it is important to review each policy carefully in order to select a plan that fits your needs.
• Consult with an experienced insurance agent who can help you determine the right form of crime insurance coverage for your business. This will ensure that you have adequate protection to safeguard against potential losses from criminal acts.

With a thorough understanding of your needs and the assistance of an experienced insurance agent, you can be confident in selecting the appropriate crime insurance coverage for your business in Kansas.

Businesses and homeowners in Kansas may be eligible for discounts on their crime insurance premiums. Be sure to ask your insurance agent or broker about any applicable discounts, including:

• Multiple policy discount – If you have multiple policies with the same insurer, you may get a discount on your premium.
• Business security systems – Installing an alarm system or other security measures can reduce your risk of theft or burglary and make you eligible for discounted rates.
• Loss history – Insurance companies will review whether you have had prior losses due to criminal activities to determine if they are willing to offer a discount.
• Membership in professional organizations – Joining specific trade associations or organizations may qualify you for discounted rates.
• Bundling your policies - Bundling your crime insurance policy with other policies can save you money. By combining your business property and auto insurance into one package, you may be able to take advantage of additional discounts.
  

Having Questions? Contact Us Today.

At WINN Insurance Group, we are committed to providing Kansas businesses with the highest quality crime insurance coverage at competitive prices. Our experienced agents and brokers can help you find the right policy for your business needs. 

We are also available to answer any questions you may have about crime insurance in Kansas or other types of commercial insurance coverage. 

Contact us today for a consultation and a quote.