Cut The Cost Of Crime Insurance

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Businesses in 28 states, plus Puerto Rico, the Virgin Islands, and the District of Columbia, are eligible for up to $15,000 worth of federally subsidized insurance against losses resulting from robbery or burglary.

Although the original intent of the Federal Crime Insurance Program was to provide reasonably priced coverage for homeowners and businesses in high-crime areas considered uninsurable by commercial companies, policies are now available to anyone within the participating states and protectorates.

These policies can serve as secondary coverage and are made particularly attractive for smaller businesses by a rate structure that is scaled on the basis of gross receipts. The only grounds for rejection of an application are misrepresentation of revenues for the purpose of obtaining more favorable rates, and failure to pass a protective devices check. Commercial policy-holders are required to install security mechanisms such as locks, gates, and alarm systems.

For more information, write Federal Crime Insurance, P.O. Box 41033, Washington, DC 20014, or call (800) 638-8780.