Money Insurance policy

Money insurance protects you against financial losses from theft and accidental damages to money, i.e bank drafts, currency notes, treasury notes, cheques, postal orders, money orders, and more. There are two types of this kind of policy, such as money in transit (during transportation) and money on-premises (stored in a safe).

Features

This policy ensures protection against a set of specific risks such as:


  • Robbery
  • Theft
  • Burglary
  • Holdup
  • Accidental damage
  • Riot
  • Strike
  • Malicious damage

Points to consider

  • The specific risks that are covered by the policy will vary.
  • The insured will need to maintain a minimum amount of money in the safe or strong room.
  • The insured will need to take reasonable steps to protect money from theft or loss.
  • The insured must compare different policies and choose one that meets specific needs.

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