What is Crime/Moving and Storage?
Crime/Moving and Storage Insurance is a specialized type of commercial insurance designed to protect moving and storage businesses from losses related to theft, employee dishonesty, and other criminal acts. This coverage is especially important for companies that handle customers' property during transit or storage, where the potential for loss or damage is high.
Whether you're operating a moving fleet or managing a storage facility, this coverage can help mitigate financial risk from internal and external theft, forgery, or fraud. It complements other forms of protection like property coverage and commercial liability insurance.
Who Needs It
This type of insurance is essential for businesses involved in transportation, logistics, and warehousing. Typical policyholders include:
- Moving companies
- Storage facility operators
- Freight and logistics providers
- Fleet owners and transportation contractors
Organizations that handle high-value equipment or customer belongings during transit are especially vulnerable to crime-related losses and should consider this coverage.
What It Typically Covers
Crime/Moving and Storage Insurance policies generally include protection for:
- Employee theft or dishonesty
- Theft of customer property while in transit or storage
- Forgery and alteration of documents
- Computer fraud and electronic funds transfer fraud
- Robbery or burglary of business premises
For example, if a warehouse employee steals valuable items from a storage unit, this coverage may help recover the associated losses.
Common Exclusions or Limitations
While this insurance is comprehensive, there are common exclusions to be aware of, such as:
- Property damage unrelated to crime
- Losses due to war or government actions
- Acts committed by business owners or partners
- Mechanical breakdowns or equipment failure
It's important to review your policy carefully and understand how it integrates with other coverage types, such as fleet auto insurance or trucking and storage insurance.
Factors That Influence Cost
Several underwriting factors can impact the cost of Crime/Moving and Storage Insurance, including:
- Size and value of assets in storage or transit
- Number of employees and background check policies
- Security measures (alarms, surveillance, access controls)
- Claims history and loss experience
- Type of goods handled (e.g., electronics vs. furniture)
Proof of Insurance & Compliance
Many clients, landlords, and partners require proof of insurance before doing business. Certificates of insurance (COIs) demonstrate that your company meets contractual and risk management standards. Having crime coverage in place can also support your credibility and professionalism.
How to Get a Quote
To receive a customized quote, work with an insurance provider that understands the unique exposures of the moving and storage industry. Be prepared to provide information about your operations, security protocols, and any previous claims.
Get a free quote today to protect your business from preventable losses related to crime and employee dishonesty.
Frequently Asked Questions
Is Crime/Moving and Storage Insurance required by law?
No, but it is highly recommended for businesses that handle valuable property or have concerns about internal theft or fraud.
Does this insurance cover theft by customers?
Typically, coverage is focused on employee theft or third-party crime, not theft committed by customers. Check your policy details for specifics.
What documentation is needed to file a claim?
You’ll usually need proof of loss, police reports (if applicable), and any relevant internal investigation records.
Does it cover losses from cybercrime?
Some policies include limited protection for computer fraud, but full cyber liability coverage may require a separate policy.
Still have questions? Talk to a local insurance expert.