Does Commercial Property insurance cover theft?

Discover if commercial property insurance covers theft and how you can get suitable coverage for your business needs.

Aditya Raghunath - Writer for NEXT Insurance
By Aditya Raghunath
Kelly Hendrickse - editor for NEXT Insurance
Edited by Kelly Hendrickse
Matt Crawford for NEXT Insurance
Fact-check by Matt Crawford

Updated June 2, 2023.

The quick answer is — yes. A commercial property insurance policy can be useful for business owners to protect themselves if a theft causes them financial loss.

Examining theft coverage in Commercial Property insurance

Commercial property insurance policies can help provide financial assistance for the following:

  • Stolen inventory, equipment or supplies
  • Business interruption due to equipment theft
  • Any damage to the building or premises caused by the theft

Some common examples of covered theft incidents may include:

  • Burglary: Unauthorized entry into a building and property or asset theft.
  • Robbery: Theft by force, such as armed robbery or during a break-in.
  • Employee theft: This refers to any theft of business assets or goods committed by an employee.
  • Shoplifting: In a retail store, this refers to the theft of goods, such as merchandise or cash from a register.

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The extent of theft-related coverage

Theft coverage can vary depending on the terms and conditions of your commercial property insurance policy. Most standard commercial property insurance can include business personal property coverage, also known as goods, gear and inventory coverage.

Named Perils coverage

Some commercial property insurance policies may offer named perils coverage, and it usually only covers specific risks, such as fire or theft.

If you have a named-peril policy in place for your business, it's advisable to:

  • Carefully review your coverage options.
  • Consider adding a rider to help ensure more comprehensive protection.

» Do you own a retail store? Check out this retail loss prevention guide

How NEXT can help protect your business against theft

With NEXT, you can get affordable, tailored business insurance to help protect you from theft-related financial loss. To view your options, simply apply online and get an instant quote in less than 10 minutes. Once you purchase insurance, you get instant access to your certificate of insurance to share it 24/7 with the NEXT app.

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