Disgruntled employees can pose significant risks to a business. Fired employees may return after hours to vandalize the building, and employee theft is more common than many realize. In such situations, commercial insurance in Lincoln, NE may provide the protection you need.

Employment Status and Coverage

Whether a person is considered an employee at the time of the damage is a crucial factor in determining coverage. Some insurance policies specifically exclude damage or theft caused by employees. However, if a person was recently terminated, they are no longer considered an employee and are not covered by the company’s policies for any vandalism or property damage.

Type of Coverage

The type of commercial insurance you have also plays a significant role. Many business owners are not required to obtain policies like property insurance. Basic liability insurance typically covers costs only if the company is sued. However, property insurance can include coverage for vandalism, including crimes committed by employees. Crime insurance often provides broader coverage than standard policies.

Type of Damage

Insurance brokers also consider the type of damage when determining coverage. For example, many policies cover accidental fires, meaning if an employee accidentally starts one, it might be covered. However, if an employee intentionally starts a fire, it would be classified as arson and vandalism. The type of crime and the extent of the damage are key factors in whether an event will be covered.

Policy Specifics

Some insurance policies specifically exclude crimes committed by employees, such as theft or property damage. Others may require you to file a police report and press charges against the employee. Additionally, you may need to provide evidence that the employee committed the crime. These requirements vary by company, so it’s essential to speak with an agent at Brokers Insurance Agency to understand the fine print of your policy.

At Brokers Insurance Agency, we understand the complexities of determining whether an event is covered. Our experienced agents will listen to your situation and provide guidance. Contact us today to learn more. We proudly serve the Lincoln, NE area.