Spike in Thefts at Businesses Close-Down Due to COVID- 19

While business shutdowns have been necessary during the coronavirus pandemic to prevent the spread of the dangerous virus, a consequence has been theft of vacant commercial properties. Several major cities such as New York City to Raleigh, North Carolina have experienced crime spikes during the crisis.

Here’s a brief look at the security challenges facing temporarily closed or limited businesses.

Increased Opportunities for Burglars

Burglars have been able to rob businesses during the pandemic for obvious reasons. Two main factors have been limited operating hours and reduced staffing. There are fewer individuals to “guard the fort” for less amount of time than usual. Empty storefronts can be an invitation for burglars to scope out an area for access possibilities.

Burglars are often discouraged by well-lit areas with cameras. However, when businesses can’t afford to keep the lights on, criminals investigate opportunities to steal valuable equipment or merchandise in the dark. According to FBI stats, over half of burglaries in recent years have been the result of forced entry.

The longer the pandemic and its effects on business linger, the more businesses are at risk of getting targeted by criminals. Furthermore, crime tends to increase during periods of economic uncertainty.

Turning to Commercial Property Insurance

Even without the pandemic, burglaries have cost businesses billions of dollars in losses each year. As a result, many firms have upgraded security measures and broadened their commercial property insurance policies. This coverage protects losses due to theft or vandalism.

All businesses should consider their insurance options during this crisis. Be sure to research the different types of losses that are affecting your area. If you need to strengthen your coverage, contact the experts at CIA Insurance and Risk Management. We are happy to answer your questions and assist you with all your insurance needs.

Post written by Sam Crudo, Chief Executive Officer

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