Pennsylvania business insurance may provide the business owner with financial protection from the consequences of certain criminal activities, but insurance is only your second line of defense. Your primary defense against business losses is to take steps to minimize the risk of break-in, theft and other crimes.
- Owners of shops need to take precautions to prevent shoplifting. Good inventory control and careful store layout can do much to reduce shoplifting.
- To deter would-be thieves, install intruder alarms. Devices that are conspicuous may put off a burglar before any damage is done to the premises.
- Control the issue of keys to your business premises. Be prepared to have locks changed if you think that keys may have fallen into the wrong hands.
- Consider installing digital locking instead of keyed locks. Digital locks, operated by entering a code into a keypad, eliminate the risk of losing keys.
- Make sure that new recruits to your business are carefully screened. Don’t entrust your business assets to anyone whose background has not been checked.
- Adopt financial safeguards to avoid the risk of embezzlement and other fraudulent activity. For example, don’t allow the same person to approve and pay for the same purchases.
Business owners who take responsibility for minimizing business loss are considered favorably by insurance companies. Be sure to tell your insurer if you enhance security in your business, because installing preventive devices may qualify you for credits that reduce the cost of Pennsylvania business insurance.