General AccidentMoney Insurance
Money insurance covers cash, cheques and negotiable instruments against loss in transit and while held on the premises - robbery or hold-up while an employee carries takings to the bank, and burglary from a safe or strongroom overnight.
Despite the Kingdom's rapid move to digital payment, retail, contracting and service businesses still handle cash daily. Limits are set separately for transit and for the safe, and insurers will look at the safe's rating, the route taken and whether transfers are made by a security company.
Risk Coverage
- Loss of money in transit by the Insured or insured party's authorized employee(s), due to robbery, theft or any other fortuitous cause
- Disappearance of money from safe due to burglary, housebreaking, robbery or hold-up, provided that the limit of the company's liability for any one loss does not exceed the amount specified in the policy purchased
Pre-requirements
Broker of Record- Commercial Registration
- Wassel /National Address
- VAT Certificate
- 3 years claims experience
- A declaration letter if first time insurance
- Proposal Form
- Breakdown List