Try These Top 7 Theft Insurance Providers In New York
If your New York business has fallen victim to theft or burglary, finding the right insurance provider can be a daunting task. With numerous options available, how do you choose the perfect fit? There’s no guessing as we've scoured the market and handpicked the top 7 theft insurance providers in New York.?
Here, in one place, are the best theft insurance solutions you can choose from to safeguard your business. Let’s dive in.
1. Hiscox
Hiscox has been in business for over 100 years, earning them a solid reputation.?
Their crime insurance protects against theft, forgery, and alteration of financial instruments, giving up to $5,000 of coverage.? Their property insurance also helps if checks get forged or changed, covering losses up to $2,500. They don’t offer coverage for in-house accounting errors, however.
With a simple online form or via the company’s hotline, Hiscox policyholders can report claims around the clock. They have an A (Excellent) rating from A.M. Businesses can count on outstanding service from Hiscox, which has earned a solid reputation.
Why we love it: Hiscox has an excellent financial position and reputation. A quick check on their Trustpilot reputation shows 4.6 stars, with over 87 percent of reviewers giving a 5-star rating. We also love their extensive coverage options.
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2. The Hartford
The Hartford company was created way back in 1810.?
Now it is a major insurance firm in the US with different plans to protect properties and pay for damages. If you do business in New York, some of their plans cover crimes like forgery, theft by employees, computer funds transfer fraud, and counterfeit currency scams.?
Plus, their CrimeSHIELD Advanced plan has extra coverage if employees steal money or stocks.
Companies are always at risk of data breaches, information loss, and theft of tools and machinery. Hartford's cyber liability insurance shields businesses from data breaches and sensitive information loss too. Their contractors' equipment insurance protects valuable tools and machines from theft. Hartford has A+ A.M. They're a trusted choice for businesses big or small.
Why we love it: They have an even more impressive track record spanning 200 years. They cover all the basics: theft, forgery, etc. – plus impressive coverage for cyber liability.
?3. Chubb
Chubb is an insurance giant with assets exceeding $200 billion.?
Businesses in New York can rely on Chubb's crime insurance for protection. The coverage includes employee fraud, document forgery, robbery incidents, and cyber theft losses. Additionally, social engineering fraud is covered up to $250,000 per incident, providing comprehensive financial security.
You can report claims 24/7 via phone, online, or through a local Chubb agent. Chubb has an A++ rating from A.M. Best. They work hard to give great customer service. Businesses can trust Chubb if they need protection from risks of theft.
Why we love it: Chubb's financial strength, extensive coverage options, and commitment to customer satisfaction make it an excellent choice for businesses in New York.
4. Travelers
Travelers shines in providing identity theft coverage for individuals and companies.
The company has unique solutions to combat this rising risk. Their Business Identity Theft Protection covers the costs of restoring a stolen identity. This includes replacing ID documents, travel expenses, and lost wages due to identity theft.
Travelers' coverage shields vehicles from non-collision hazards like thefts, and fires. Their insurance protects businesses from cash and securities losses - paying claims costs too. With top tech help and claims teams, Travelers assists New York firms superbly.
Filing claims with the insurance firm isn't hard because they give directions step-by-step. You can reach them any time since help is available 24/7.?
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Why we love it: Travelers' expertise in identity theft protection, comprehensive coverage options, and user-friendly claims process make it a top choice for businesses in New York.
5. Nationwide Mutual Insurance
Nationwide Mutual Insurance is a Fortune 500 company and has over 80 years of experience in the business.?
The company offers strong commercial crime insurance and identity theft coverage to businesses in New York. Their commercial crime insurance protects against many threats, including:
The coverage limits can vary depending on the policy chosen.
Coverage for identity theft from Nationwide gives you $10,000 to $15,000 in protection. The deductible is between $100 and $500. Companies can file claims online easily. They can also call Nationwide's customer support hotline anytime, day or night, for help with claims.
Why we love it: Nationwide's user-friendly claims process makes it a reliable choice for businesses seeking theft insurance in New York.
6. Liberty Mutual
Liberty Mutual delivers Business Theft Coverage, an all-inclusive insurance solution.?
It aids companies in recuperating from monetary setbacks caused by theft, burglary, or associated criminal activities. Their management liability protection shields enterprises from worker dishonesty losses, forgery, robbery, and other offenses.?
Additionally, their fidelity and crime insurance covers missing money, securities, and inventory. A business owner's policy from Liberty Mutual safeguards your small company's place, furnishings, and physical assets if theft occurs.?
You can personalize your coverage limits and deductibles to gain suitable security. In 2022, Liberty Mutual got an excellent rating from A.M. Best. This indicates the company possesses strong financial capabilities to pay insurance claims.?
Why we love it: They have highly customizable coverage options and an efficient claims process, making them an excellent choice for businesses seeking theft insurance in New York.
7. State Farm
Being America's top auto insurer, State Farm offers detailed plans for commercial coverage that guard against theft. Their insurance for business owners secures cash and valuable documents from vanishing or getting ruined on a property, at banks, or similar institutions.
Their business services insurance shields buildings, property, and equipment from accidental physical loss or theft. Importantly, their Business Owner's Policy (BOP) combines liability and property coverage. The best part is you can customize this policy to meet your requirements.
State Farm has received many special honors. The company is well-known for earning Fortune Magazine's World's Admired Companies, putting State Farm as a Most Admired Company. This marks 10 years in a row the company earned this recognition.
Why we love it: Their reputation is stellar. Financial stability? Unmatched. Online and mobile services are user-friendly too. For New York businesses needing theft protection, State Farm emerges as a top pick.
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Wrapping Up
These seven theft insurance providers in New York offer strong protection for many scenarios, from theft and forgery to business identity theft protection. However, a multi-layer approach is crucial for truly safeguarding your business.
You can regularly train employees on handling cash, spotting suspicious behavior, and using dual-control procedures to significantly reduce internal theft risks.
You can check out the complete review of these companies in our blog ?? https://smartentrepreneurblog.com/us/theft-insurance-providers-in-new-york/. It takes you in-depth on their features plus a comprehensive comparison of their offering to help you make the right decisions.