Money insurance policy mainly provides the cover for cash whilst in transit, in premises of handling against many types of losses subject to the exclusion of the policy. Money can be defined as Cash, Money orders, Current postage stamps and Cash cheques coins etc. as agreed by insurer.
The risks covered under this policy are as follows;
- Money whilst transit
- Whilst in the business premises during business hours
- Whilst in the business premises out of business hours in a locked safe or strong room
- The cost of repair or replacement of the safe/strong room associated with any theft or attempt theft occurring during the period of insurance if insured against cash in safe.