Businesses that involve the buying and selling of physical goods have always had to deal with theft as a threat to their success. Today, theft comes in many different forms to match the complexity of our digitally-integrated culture. Any modern business that sells goods or services has to contend with the possibility of theft. Luckily, there are solutions and resources at every business owner’s disposal to mitigate this threat and its consequences.
Read on to learn best practices for dealing with potential – or present – cases of theft in your business.
Choose your employees wisely
Unfortunately, not every prospective employee has the best intentions in mind when it comes to your business. Employees have access to merchandise, funds, and digital information that others do not. It’s crucial to thoroughly vet applicants before making hiring decisions to prevent losses down the line due to employee theft. Choose employees with recorded histories of trustworthiness and good character.
As your employees learn about your business, make sure that they’re aware of the protective measures and consequences that should deter them from making a decision to steal from your business.
Security technology
Nowadays, technology can be your best friend in the fight against theft. Many businesses utilize video surveillance to keep an eye on the customers frequenting brick-and-mortar stores. Cameras should be obvious and installed within the customer’s line of view.
RFID tags and door sensors are another commonly-used pair that prevents stealing by alerting the store of potential theft attempts.
Daily theft prevention
Businesses can integrate best practices to ensure their safety and security every day. These include:
- Making daily bank deposits
- Cross-checking cash registers against receipts
- Routine emergency training for all employees
- Keeping employee-only doors locked from the outside
Insure your business against theft
While all of the measures listed above are great ways to prevent theft, the truth is that criminals can outsmart even the tightest security measures. Businesses should consider investing in insurance designed to specifically address losses from theft and fraud.
Commercial property insurance may protect your businesses against many threats, including natural disasters, but it doesn’t always cover losses from theft. Business crime insurance is a great option to assure the continued safety of your business from theft.
Business crime insurance plans are created with the awareness that theft and fraud come in many forms. Benefits of most plans include:
- Employee theft coverage
- Burglary and robbery coverage
- Digital fraud coverage
- Money theft coverage
- Coverage in the event of a forgery or alteration of your identity or goods
The right plan will assure your business’s safety, no matter what may happen.
Crime insurance shouldn’t break the bank. That’s why Superior Insurance and Auto Tags offers discounts for anti-theft coverage, along with many other types of coverage for smart business owners. Our lines of commercial and personal insurance help provide comprehensive protection for you and your property. Talk to an agent today to explore the full extent of our coverage options, or to answer any questions you may have. You are one consultation away from excellent service and protection.