Lake Charles Gas Station Insurance

Gas Station Insurance Lake Charles – We Can Find You Better Rates!

Lake Charles Gas Station Insurance The experienced agents of Jeff Davis Insurance can find you better rates on Gas Station Insurance in Lake Charles La, so why not call us today?

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Lake Charles Corner Store Insurance – Coverage Scenario Part 35

In last week’s article, we addressed the following question: If the money stolen from Rob’s gas station corner store by armed robbers was covered by his Crime Insurance Policy, why is the money stolen by his employee Chad not also covered by that same policy?

To answer that question, we first cited some important language from Rob’s policy. The following phrase is key: “…theft by employees is not covered.”

Rob’s Crime Insurance Policy covers various forms of theft, but it specifically excludes theft by employees.

Now, you may be thinking “there must be some kind of coverage for employee theft!”

And you’d be right. Here is another key phrase from Rob’s policy language: “This exclusion [for employees] does not apply to coverage that is provided under the Employee Dishonesty Optional Coverage“

As you can see, there is another optional policy endorsement called Employee Dishonesty Optional Coverage. As this multi-part claims scenario shows, this Employee Dishonesty endorsement, though optional, can be an important type of coverage to have for your business.

Unfortunately, Rob did not opt to add this coverage when he added the Crime Insurance Coverage endorsement to his policy.

As a result, his Louisiana Business Insurance company is not obligated to provide compensation for the approximately $20,000 Chad slowly embezzled from Rob’s earnings.