Money Insurance
This policy can be redeemed in case there is any loss during transition between insured’s premises and ban/post office and other places where robbery/theft occurrence is high. Also if the money was robbed from insured’s premises in safe and strong room. It comprise security for cash, currency notes, coins, postal orders, stamp, cheques etc while transmitting or from illegal breach into insured’s compound. The policy cover can be extended and include risk due to infidelity, terrorism and disbursement risk.
How to claim for money insurance?
Inform the Insurer and submit documents required for process as suggested by insurance company you choosed.
Documents required?
- Submit correctly filled insurance claim from to go with other documents given below.
- FIR report regarding the loss.
- Details of pay-in-slip by insured/his workman having denomination of cash and exchange bills.
- Counterfoils of cheques collected after drawing money from bank.
- Statements from everyone present at the time of incident as an evidence/witness.
- Statement from insured to get details on person who visits bank regularly and also if anyone accompanies him.
- Details on route taken by the person while he visits bank and other destinations to transfer money, and if any other such incident occurred earlier.
- If security is breached or breakage of strong room/cash box then photographs to justify the same.
- In case of Hold up during office hours then the amount available with the cashier together with copies of receipts and denomination of cash in Cash box or till.
- Exchange bills , cash details kept in strong room/cash box and person responsible for keys. Cash book of previous days for verification.
- Track of keys while duplicating and key movement register if given to some others hand.
- Letter of recommendations and other background details.
- Infidelity case needs employee’s details, date of discovery , statement from witnesses , audit reports with deep details, details from enquiry department.
Exclusions:
- Negligence while storing and locking the store.
- Fraud/dishonesty by insured employee.
- Losses that are covered by other policies.
- Damage due to riots, strike , war etc.
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