Whether you are on your way to the bank to deposit your business earnings for the day or you prefer to keep the cash at your business premise, having Money Insurance could save you from the unexpected financial loss in the event of robbery or theft. The Money Insurance covers the loss of your money whilst in transit and whilst in the premises. Our Money Insurance covers “Money” carried by the insured or the authorized employees / messengers while in transit and Money that has not been disbursed and has been retained in a safe. Money means and includes cash, bank drafts, currency notes, treasury notes, cheques, postal orders and current postage stamps.
Scope of Cover :
♦ Loss of money in transit by the insured or the insured’s authorized employee(s), occasioned by robbery, theft or any other fortuitous cause.
♦ Loss of money in safe by burglary, housebreaking, robbery or hold-up, provided that the limit of the company’s liability for any one loss shall in no case exceed the amount specified against any respective section in the said schedule to the policy.
♦ Loss of money during and after working hours.
♦ Damage to safety (Value of Safe).
♦ Loss of money in the custody of an authorized employee.