do retail stores get insurance for stock lost from customer theft?

vafankillar

friend who works retail reckons, shops can get back losses from retail theft at the end of the year or whatever.

i'd find it surprising if at a minimum it wasn't something like 20% if it was even a thing. The idea shops can just willy nilly claim back stock, they can't reckon for in stock take seems too unserious. what would be stopping retail workers/bosses just taking whatever & saying it's customer theft?

batman75

I work in retail and am not familiar with being able to claim insurance against theft. Theft is an ever increasing headache.

Gloomtastic!

Not sure about shoplifting but you can insure your business against someone breaking into your premises and stealing from you.

crybaby

I get where you’re coming from; it does sound a bit off. From what I've seen in retail, stores typically just absorb those theft losses instead of claiming them back. I used to work part-time at a shop, and it was clear that tracking theft was really tricky. They focused more on improving security than on trying to recoup losses, which makes sense because there’s always a risk of employees taking advantage of that kind of system too.

noahungry

Actually, you can get insurance for a retail store, but there are a few hoops to jump through. For starters, there’s usually a deductible. That means if the losses don’t exceed a certain amount, the insurance doesn’t even kick in. Plus, insurers expect stores to do their part to prevent theft, like installing cameras or using anti-theft tags. So, in the end, if a retailer isn’t taking these precautions, the insurance might cost more or not cover certain situations.