MONEY INSURANCE
Money Insurance Policy is designed to indemnify the insured in the event of money being stolen or robbed either from the insured’s business premises, or whilst it is being carried to or from the bank. The loss of money will have an impact on any organisation, regardless of the size of the organisation. It is therefore extremely important for a Money Insurance to be effected to protect the movement from/to the insured’s premises.
The Money Insurance Policy covers the following :
| Money In Transit | Loss of money whilst in transit from the insured’s premises to bank and vice versa whilst accompanied by the insured’s authorized employees. In respect of coverage insurance for salaries/wages, this continues until monies insured are fully paid out to the insured’s employees. |
| Money In Premises | Loss of money whilst the money is kept in a locked safe or strong room in insured premises by forcible and violent entry upon the insured’s premises; as a result of robbery, hold-up whilst in premises. If cover is required for money kept in locked drawers, cabinets, cash registers etc, it is important for these to be specifically stated in the Proposal Form. |
| Safe/Strong Room | Damage to the safe/strong room following forcible and violent entry upon the premises or as a result of a robbery is covered. |