How Crime Insurance Premiums Are Decided

When you get a Fidelity crime insurance policy, you are taking a smart step towards protecting your business. Stopping employee dishonesty and fraudulent behavior is something you have to do if you want your business to stay afloat. However, as with any investment you make in your business, cost will probably be something you are concerned about. To understand your policy costs, it helps to know how they are determined.

A Look at Your Background

Most policy costs come together through looking over your background. An agent will check into any past claims you may have made. They will look over your business’ financial situation, too. This is usually because situations of fraud may be more likely to occur in a business that isn’t doing too well. Your employees may also be looked at to see if any of them may have backgrounds that make them more likely to commit fraud.

Policy Details

The types of coverage you choose, along with your deductibles and other details of your policy will also affect the cost. As with any insurance, the higher your deductible, the lower your premium.

The cost of a Fidelity crime insurance policy can vary. However, you can get a better idea of what cost you are looking at by understanding what factors your insurance company will look at.

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