Blanket Crime Policy

What Does Blanket Crime Policy Mean?

A blanket crime policy is an insurance policy that protects against various types of crime-related losses. Commonly purchased by businesses, it offers coverage for a range of risks, including employee theft, forgery, and the accidental acceptance of counterfeit money. Employee theft is one of the most common claims filed under these policies, so it’s worth knowing the steps you can take to prevent employee theft and fraud before relying on a payout.

Insuranceopedia Explains Blanket Crime Policy

Crime can be highly costly for businesses, and blanket crime policies offer protection against these crime-related losses. However, it has become increasingly common for businesses to opt for commercial crime coverage instead. Although similar in purpose, commercial crime coverage is structured differently from blanket crime policies. These newer policies break coverage into separate insuring agreements for losses like employee dishonesty and forgery, so businesses can buy only the parts they actually need.