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 Money like any other property is susceptible to loss and
damage and for this an insurance exist to cover such
mishaps.
Money insurance is an All Risk cover with some exclusions
which can be referred to in the policy. Essentially Money
would be cash, notes, cheques, securities for money, stamps,
postal and money orders). Here you will be able to seek
information and request for
quotation on line.
The cover is for the said money whilst:-
 In transit to
and from premises and bank
In safe at the
premises
Out of safe in
working hours at the premises
In a bank
night safe
In the care of
company responsible staff
In a private
dwelling of employees overnight
Cover includes
safes (Description of such safes to be provided)
Under Money insurance various extensions are also available
that can provide wider cover. This can be requested and at
the insurers discretion can be included:-
Personal
accident cover to employee carrying the money.
Damage to
carrying employee's clothing following assault.
Out of safe
out of hours.
Extension
Geographical area of cover
Specific
subject matter inclusion like .."Bullion etc"
To provide cover for the money insurance consideration is
given on the limits - the Estimated Annual Carrying, maximum
limit of any one carrying and maximum limits available in
the safe or premises at any given time.
The rate chargeable is always applied on "Per Mille" basis
(for every thousand units) on the Estimated annual carrying
and limit of money in safe/premises. The charges are are
very dependant to the nature of risk, location and the
security measures in place. There are a number of other
Conditions to refer to.
Exclusions:
The exclusion
under the money insurance are:-
Theft by
employees
Money out of
safe
Loss from
premises following use of a key unless key obtained by
violence or threats thereof
Shortages due
to error or omission
War,
rebellion, usurped etc, nuclear risks |
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