Most snow removal owners trust their crews, and most crews deserve it. But equipment disappears, fuel cards get misused, and invoice scams target small contractors every year. Crime coverage addresses losses caused by dishonesty rather than accidents.
What Crime Coverage Can Include
- Employee dishonesty: theft of money, equipment or inventory by employees
- Funds transfer fraud: a fake email from a "supplier" with new banking details, and a payment that goes to a criminal
- Forgery and alteration of cheques
- Theft of money and securities on premises or in transit
Why It Matters in Snow Removal
Seasonal hiring, cash payments from residential customers, fuel cards and expensive portable equipment all create opportunities. Crime losses are generally excluded from property and liability policies.
Controls Help
Separate duties for billing and payments, verify any banking change by phone, track fuel cards and keep equipment inventories. Insurers ask about these and they reduce risk regardless.
See also cyber insurance for related email and data risks.
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Frequently Asked Questions
Is equipment stolen by an employee covered by equipment insurance?
Often not. Employee theft is usually excluded from property and equipment policies and needs crime coverage.
What is funds transfer fraud?
A scam that tricks your business into sending money to a criminal, often through a fake supplier email with new banking details.