Most property policy have coverage for this but only to a certain limit (I think it's $200). I'm betting their might be some specialty companies out there that will insure more, you'd need to speak to an agent about this. There are several forms that can be added to a commercial policy to insure greater amounts of cash.
The average policy has low limit as 1) it's almost impossible to prove how much cash was stolen and 2) no company wants the risk if insuring something that can't be traced in any way.
Posted: Sun Jan 31, 2010 02:21 pm Post Subject:
Are we taking about cash in a home? At a business? Or somewhere else?
Is it cash that has to be in either of these two places? Why not place the cash at a financial institution where it will be safe without your having to insure it?
Posted: Mon Feb 01, 2010 10:12 am Post Subject: Money Insurance Policy
You can opt for Money Insurance Policy which provides coverage to you or your employees against the loss of money in transit which includes current coin, bank note, checks and postal order, caused by robbery or theft. The policy provides coverage for money drawn for payment of salaries, wages or other earnings and for cash payment in direct transit from the bank to the insured. It also provides Personal Accident Coverage for those carrying the money.
Posted: Sun Jan 31, 2010 06:37 am Post Subject:
Most property policy have coverage for this but only to a certain limit (I think it's $200). I'm betting their might be some specialty companies out there that will insure more, you'd need to speak to an agent about this. There are several forms that can be added to a commercial policy to insure greater amounts of cash.
The average policy has low limit as 1) it's almost impossible to prove how much cash was stolen and 2) no company wants the risk if insuring something that can't be traced in any way.
Posted: Sun Jan 31, 2010 02:21 pm Post Subject:
Are we taking about cash in a home? At a business? Or somewhere else?
Is it cash that has to be in either of these two places? Why not place the cash at a financial institution where it will be safe without your having to insure it?
Posted: Mon Feb 01, 2010 10:12 am Post Subject: Money Insurance Policy
You can opt for Money Insurance Policy which provides coverage to you or your employees against the loss of money in transit which includes current coin, bank note, checks and postal order, caused by robbery or theft. The policy provides coverage for money drawn for payment of salaries, wages or other earnings and for cash payment in direct transit from the bank to the insured. It also provides Personal Accident Coverage for those carrying the money.
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