What are the true costs of business theft?

How badly would your business be affected by a break-in?

Most business owners understand that an incident of business theft can have major ramifications in terms of damaged or stolen equipment that needs replacing.

However this is not the only expense that will be incurred following a business theft. Here are a few examples of other potential costs that may occur if your business is vandalised or robbed.

Reproduction of important records

Sometimes criminals will target confidential and important records in a break-in, choosing to either damage these documents or steal them for their own purposes.

It is likely that your business will be required to reproduce this content after the theft, and this could be a costly and time-consuming process.

However with business insurance cover, you will be covered for all the potential expenses related to the re-writing of important records.

Damage to premises

Often criminals which break into a business will - either intentionally or otherwise - cause significant damage to the premises.

This vandalism must be repaired in order to restore employee productivity and peace of mind, and to get the business up and running again, which can be very expensive.

Business insurance will cover you for the cost of this damage and will ensure that your enterprise is up and running with minimal lost work time.

Replacement locks and keys

It is likely that your business's locks will be significantly damaged during a break-in, and will therefore require replacement.

You will also be required to fund the cost of replacement keys for any employees that need access to the building.

These are both expenses that you will be covered for if you have business theft insurance.