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Money Insurance
This policy provides indemnity for loss of or damage to money
Money Insurance
This policy provides indemnity for loss of or damage to money - which is also defined to mean: cash, bank or currency notes, cheques, postal and money order, postage stamps and luncheon vouchers within and outside the premises. The money must be owned by the Insured or held by them in trust or on commission or for which they are responsible, and loss or damage should occur within or outside business hours during the period of insurance.
Features
The policy offers cover against loss of cash/cheques/postal orders/postal stamps: –
- • While in direct transit from the bank to the insured’s premises or to the places of disbursement
- • While in transit from insured’s premises to the bank
- • In the personal custody of the insured or the authorized employees whilst within a period not more than 48 hours from the time of collection
- • Whilst secured in locked safe/strong room in the insured’s premises as a result of burglary, housebreaking, robbery and hold up
- • Loss of money in transit caused by robbery, theft, or any fortuitous events
- • Loss of money from the insured’s safe or strong room caused by theft or robbery
- • Loss of money from the insured’s premises during business hours caused by theft or robbery
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