Financial losses deeply impact a person's life, especially those that happen during money in transit. However, riskfreelife.com can protect you from any such losses with money insurance plans.
- The money insurance policy offers a cover for money loss occurred in transit between the premises of insured and post office/bank/specified areas frequented for theft, robbery or other fortuitous causes.
- Money insurance policy also covers loss due to housebreaking, burglary- when the money is in the insured's premises such as in a secured room or safe etc.
Scope of Cash in Transit Insurance Cover
- Section I:The cash in transit insurance policy will cover money in transit for bank drafts, cash, treasury notes, currency notes, postal orders, cheques, and/or postage stamps.
- Section II:The money insurance will cover cash in the insured's premises/safe.
Sum Insured in Money Insurance Policy
- Firstly, the sum insured can be based on liability limits to any one of the losses (i.e. maximum liability of the company).
- Secondly, sum insured can be same as the estimated money in transit in the year for the purpose of premium calculation.