Money In Transit Insurance
Scope of Cover
The policy will provide indemnity for loss or damage to Money-in-Transit from all accidents and/or misfortune including Money-In-Safe, strong room, and/or on premises. Cover will be extended to include armed hold up.
- Please be informed that the insurers will only provide Money-In-Safe cover if money is securely locked in the Safe and not in a cash box or any drawer.
- Money on premises cover will only be restricted to the period when the office is open for business. Immediately the office is closed for business, money on premises cover automatically ceases until next day when the office is again open for business.
- This Insurance is always on declaration basis and you are obliged to keep records of all movement of money and to submit a declaration of all money in transit by the end being in excess of the provisional premium, you will have to pay the difference while a refund will be granted if otherwise.
- Under this Insurance, cover will be excluded for money extracted from the Safe where the keys to the Safe are used except such keys have been obtained by threat or violence. Furthermore, the keys to the Safe should not be left on the premises or around the vicinity of the Safe at all time.