What is Crime Insurance? | Vouch Insurance

When

When should startups get Crime Coverage?

CRIME COVERAGE

As your startup grows, your risks do too.

Once you launch your product in market, you have customer data that’s susceptible to fraud. As your team grows, it becomes harder to monitor everyone’s activity.

Headcount growth: More people means more risk
Revenue increase: Access to more money may make you more attractive to fraudsters.
High-value property acquisition: Bringing in new equipment – including laptops to power your growing team – could make you a target of theft.

Need coverage fast? Apply today, and you could have a policy within 24 hours.

Why

Why should startups get Crime Coverage?

THE LOGIC

The Association of Certified Fraud Examiners’ (ACFE) most recent report found that organizations with fewer than 100 employees see the largest share of fraud cases – 28 percent. Worse, median losses are $200,000 per incident – higher than losses for any other business size.

Why are smaller companies more susceptible to fraud? Mostly because they have fewer resources to prevent and detect it, according to the ACFE.

Vouch understands this challenge and others startups face. Our Crime policy is easy to apply for and can be active in as little as 24 hours.

While a crimethat policy won’t actually prevent fraud, it can keep fraud from putting your business finances in jeopardy.

Apply today and see for yourself.

What

What does Crime Coverage actually cover?

COMMONLY DOES COVER

Vouch’s Crime insurance policy covers losses due to crimes that fall under these categories:

Employee dishonesty
Forgery or alteration
Money and securities
Losses that happen outside your business premises
Computer fraud and funds transfer
Counterfeit currency

CLAIM EXAMPLE

An employee steals proprietary customer data. The employee sues your startup for damages. Your Crime policy can cover the associated defense costs.

CLAIM EXAMPLE

An employee hacks into your payroll system to transfer funds into their own bank account. Your Crime policy can cover the losses from this theft.

COMMONLY DOES not COVER

Any costs resulting from a data breach aren’t covered by Crime insurance – that’s handled by Cyber insurance. In other words, if an outside party (rather than an employee) steals your customer data, you would need Cyber insurance.

Why Vouch?

Why get Crime Coverage from Vouch Insurance?

VOUCH INSURANCE

Vouch was created by founders who have experience at the helm of a startup. They know that getting the right insurance is necessary – but it can be tricky to find insurance policies that make sense for startups. That’s why Vouch’s coverage is designed specifically for startups.

For example, startups often employ engineering contractors who have access to sensitive data and therefore can increase your risk of a crime loss.

Vouch’s Crime coverage extends to crimes committed by engineering contractors, unlike many other available policies.
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Plus, it’s easy and fast to apply – our application takes less than 10 minutes, and you can get covered in less than 24 hours. Apply here.