Protect Your Business from Shoplifting Damages with Rhode Island Commercial Insurance

One of the greatest risks to any small business is shoplifting. The US Chamber of Commerce estimates that crime could be a factor in 30 percent of business failures. A standard Rhode Island commercial insurance policy may cover crime-related losses and you can also invest in additional commercial crime insurance, which will cover you for a number of perils such as fraud, forgery, internal theft and employee dishonesty.

In addition to ensuring you are protected against financial losses, you can take steps to reduce shoplifting, and possibly lower your Rhode Island commercial insurance premiums as a result. Here are some shoplifting prevention tips:

Make your security visible. Shoplifters are often opportunists. When a shoplifter sees a lack of supervision and absence of security devices, there is a higher chance he or she will target your business. Visible security devices can be an effective deterrent.

Make all products visible. Arrange your store items so that everything is in full view. Make sure the most expensive items are the hardest to steal and always position them away from the exit.

Train your employees. The more people who can spot a shop-lifter, the more chance they will be noticed and caught. Getting your staff to greet every customer and regularly scan all parts of the premises can help prevent shoplifting.

Depending on how common shoplifting is in your business area, you may consider taking out additional coverage on your Rhode Island commercial insurance policy. An advisor can help you chose the right policy.

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