Money Insurance

This insurance cover protect money in transit from your premises to bank or post office or other specified places or between the insured’s premises and branch offices, we can also cover the money in safe and/or premises at specified places under the same policy.

Money is always susceptible to mishaps such as burglary and the like. To protect against this risk, “Money Insurance Cover” may be purchased. 

Money shall mean cash, notes, cheques, securities, stamps and the like.

This cover is available against risks whilst:

  1. In transit from premises to bank and vice versa.
  2. In a safe, in office premises.
  3. Out of the safe during working hours.
  4. In a Banks’ safe.
  5. In the care & custody of company’s designated staff.
  6. Other Extensions incidental to Money Insurance can also be provided. These can be tailor made to the exact requirements of the customer.

The premiums are calculated on the estimated annual carryings and amount of money in the safe or on the premises. Furthermore the premiums are based on the nature of the business, location and the security measures in place. 

  1. Exclusions under the policy are;
  2. Theft by own employee.
  3. Money out of safe.
  4. Loss of premises following use of key, unless, key is obtained violent behavior of threats.
  5. Shortage due to errors of omission and commission.
  6. War and like activities.