Money Insurance

This policy is designed to protect banks and industrial/business establishments against loss of money.


The policy offers cover against loss of cash/cheques/postal orders/postal stamps:-


  • While in direct transit from the bank to the insured’s premises or to the places of disbursement
  • While in transit from insured’s premises to the bank
  • In the personal custody of the insured or the authorized employees whilst within a period not more than 48 hours from the time of collection
  • Whilst secured in locked safe/strong room in the insured’s premises as a result of burglary, housebreaking, robbery and hold up
  • Loss of money in transit caused by robbery, theft, or any fortuitous events
  • Loss of money from the insured’s safe or strong room caused by theft or robbery
  • Loss of money from the insured’s premises during business hours caused by theft or robbery


Extra Covers

Policy may be extended to cover strike, riot, and civil commotion risks on payment of extra premium.



Premium is dependent on the estimated total cash carrying the liability of the company at any one time, the mode of conveyance, distance involved, safety measures taken etc. Rates range from 0.1% to 0.50%. Premium is adjustable based on actual cash carried through out the year based on declaration made within 30 days of expiry of the policy.



  • All losses should be reported to the police and registered. Copies should be sent to insurers. Vouchers/proof of ownership and other evidence to substantiate the claim shall be required. Claims will be settled on receipt of final police investigation report and investigation by agency appointed by the insurers
  • Duly completed proposal form giving all the salient features as are required for proper underwriting of the risk


 Why You Need This Policy

There is considerable risk involved in handling cash and negotiable instruments, be it at the office, at the bank, at the place of disbursement or while in transit. Thus, this IGI policy is extremely useful for those who handle and transact cash in large volumes everyday.