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"If the car is low value, drivers might wish to consider a third party, fire and theft policy, as young driver excesses could make the comprehensive cover a pointless exercise," says Mr Thomas.
Another common theft policy for business firms is a comprehensive crime contract covering employee dishonesty as well as losses on money and securities both inside and outside the premises, loss from counterfeit money or money orders, and loss from forgery.
Sorry, mister, the fire and theft policy you bought covers you only if your car is stolen while it's on fire..
Maintain a strict employee theft policy.
If employees think they can get away with theft, they are much more likely to attempt to steal than if there is a strictly enforced employee theft policy in place.
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The company said it would charge consumers only for premium features like credit monitoring and a $1 million identity theft insurance policy, which cost $14.95 a month.
Mr. Cary said he thought he had paid the $300 premium for an employee-theft policy in 1999, the year his bookkeeper embezzled his money, but his agent told him that he had let coverage lapse the previous year.
Most large companies jealously guard their internal-theft policies.
"But unless there's actual theft, the policy won't respond," says Steven Leggett Steven Leggett, a senior vice president for insurance broker Willis Group in New York.
Companies require two policies: Collision Damage Waiver and Theft Insurance.
This third major component of strong wage theft laws policies addressing those two imperatives: the amount in damages workers are able to recover through filing a wage claim, and the civil and/or criminal penalties for employers for violations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com