What is Cash in Transit?
Cash In Transit, Money In Transit, Insurance from Goldstar means cash, bank notes, brand drafts, currency notes, cheques, current postage stamps, postal orders, money orders, revenue stamps and air time cards are all included. It protects the insured against risks associated with transporting cash from one location to another.
Cash In Transit is specifically designed to protect the insured from:
- Loss of money arising out any cause
- Loss of or damage to safe/strong room
- Any case in which money is being carried
- The goods or property of the insured or for which the insured is legally responsible caused by theft or attempted theft.
What’s coveredCash In Transit is an All Risks policy covering money, up to the insured’s given limits, including;
- In transit to or from bank
- In insured’s premises outside safe/strong during office hours
- In the insured’s premises in locked safe/strong room after office hours
- In the insured’s residence or partner
- In the hands of authorized official e.g salesmen, directors, messengers
- Loss or damage to safe
What’s not covered
- Shortage due to error and omissions
- Loss of money from safe following use a key unless such keys are obtained by force or threat of violence
- Loss arising from unattended vehicles
- Loss or damage due to floods, cyclone, earthquake and other convulsions of nature
- Loss/damage due to war and its related perils
- Loss/damage resulting from roots, strikes and civil commotion
- Loss arising from terrorist activities
- Consequential loss
- Political Violence and Terrorism: Cover against political violence and terrorism
Other types of insurance cover
You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.
Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.
Additional charges will apply and in certain circumstances this cover might not be available.
Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.
In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.
An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.
- Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
- Always keep valuables safely and locked out of site to protect against the risk of theft