Robbery

What Does Robbery Mean?

Robbery is a crime in which the perpetrators use intimidation, force, or even violence against a person or property to obtain valuable items. To be classified as robbery, rather than simple theft, a human victim must be present. The damage resulting from robbery can be covered by an insurance policy.

Insuranceopedia Explains Robbery

Robbery occurs when a person is threatened or harmed in an attempt by the perpetrator to steal a valuable item. In the United States, robbery is typically considered a state crime; however, if a financial institution such as a bank is robbed, it becomes a federal crime instead of a state one.

Crimes like robbery can severely impact a business. Unfortunately, crime-related risks are not always covered under standard commercial property insurance. To ensure coverage, it must be specified to the insurer. When robbery is included as a named peril, the policyholder can use their policy to help recover their business from the losses caused by the crime.