CASH IN TRANSIT INSURANCE
Types of Cash Insurance
Cash in Safe Insurance
Cash in Transit Insurance
Fidelity Insurance
Cash in Transit Insurance
To protect against any loss of cash due to theft or robbery during a transit between insured’s premises and destination.
Insured Business
Government business
Businesses owned by Co-operative society
Private business
Insured Period
he term of the policy will be from 1 day to 1 year.
The insured period will only cover for one trip in some situation.
Sum Insured
Sum insured must be the maximum amount of transit for one trip.
Premium Rating
0.5% on sum insured for Government department and government organization.
0.2% on sum insured for private bank.
1% on sum insured for other private organizations and co-operative society.
Necessary Facts While Insuring
Have to fill the Proposal Form.
Have to submit Update bank statement and daily transaction record.
Adjacent of the building
Total sum insured
Necessary Facts to Claim
Information letter to Young Insurance immediately.
Recommendation letter by Police and authorized regional organization to recommend about burglary.
Inspection by authorized person from Young Insurance.
Daily transaction record before causing losses.
Amount or value in the safe box before transit.
Inspection Report by respective department.
