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Home > Blog > Does Commercial Property Insurance Cover Theft?
WEDNESDAY, AUGUST 25, 2021

Does Commercial Property Insurance Cover Theft?

Commercial property insurance is known to provide compensation to businesses in the wake of a disaster. This insurance is often related to things such as fires, tornadoes and hurricanes. Commercial property insurance doesn’t only cover major disasters, however. It can also protect against everyday hazards that the property of a business may face. 
Finger on Insurance
What Does Commercial Property Insurance Cover? 

Property insurance provides compensation if the physical building of a business or its contents are damaged due to certain incidents, or perils. These perils include: 

  • Fire 

  • Smoke 

  • Lightning 

  • Hail 

  • Wind 

  • Explosions 

  • Damage from vehicles or aircrafts 

  • Vandalism 

  • Theft 


If someone steals from a business, the business should be compensated by the insurance company after filing a property insurance claim. Property insurance for businesses often covers products and equipment, as well. 

What Does Commercial Property Insurance NOT Cover? 

There are exceptions to this coverage. Theft is only covered under property insurance if committed by a third party. This insurance will not cover employee theft or criminal acts such as money laundering. It also doesn’t typically cover floods or earthquakes. 

Business owners may purchase additional coverage to expand their property insurance, such as: 

  • Employee Dishonesty: Employee dishonesty coverage provides compensation if an employee steals from the business. 

  • Commercial Auto Insurance: Commercial property insurance covers a lot of assets owned by a business, but it does not cover vehicles that the company uses or owns. A personal auto insurance policy also won’t cover vehicles used for work. Thankfully, you can purchase a commercial auto insurance policy that provides coverage including comprehensive, collision, uninsured/underinsured motorist and more. 

  • Inland Marine Insurance: If business equipment or products are in transit, your property coverage may not cover it. If it does, that coverage is likely limited. Inland marine insurance provides compensation if damage or loss occurs to business property in transit. This covers theft, as well. 

  • Flood Insurance 

  • Earthquake Insurance 


Comprehensive coverage on your commercial auto insurance policy also covers theft but be wary. Most policies won’t cover theft that occurs while the vehicle is unattended or while the driver is intoxicated through drugs or alcohol. 

If a theft does occur, be sure to document the incident and the value of items stolen. Keep records to make it easier while filing a police report and insurance claim. Make sure all employees know what to do in case they catch someone committing theft. Prevention is also incredibly important. Protect your store, warehouses and/or vehicles with anti-theft systems. This may also serve in lowering your monthly premiums. 

Who Needs Commercial Property Insurance? 

Any business that has a physical property, utilizes equipment or provides products should carry commercial property insurance. Businesses that are located in certain areas may need higher limits on commercial property insurance. Florida has frequently unpredictable weather, and most businesses near the coast may benefit from purchasing flood insurance to add to their commercial property policy. 

How Much is Commercial Property Insurance? 

The cost of commercial property insurance varies depending on several factors, including: 

  • Replacement value of the property 

  • Size of the business 

  • Credit score of the insured 

  • Claims history 

  • Policy coverage 

  • Industry 


You can save money by bundling your insurance into a business owners policy (BOP) or a commercial package policy (CPP). A BOP is frequently used by small businesses in low-risk industries. CPPs are typically more expensive, but also more flexible. These policies are used by larger, high-risk businesses. Risk is calculated by the likelihood that the business will file a claim. If your business has a long history of filing claims, you will likely pay more for commercial property insurance. 
Posted 1:08 PM

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