Covers all risks of physical loss or damage to money while being transported to and from a Bank and while on premises. Losses will include hold-up, robbery and/or theft.
In the event of a loss you should do the following:
- Notify the Police immediately
- Prepare notice in writing to us stating the circumstances of the loss
- Take immediate steps to ascertain the full extent of claims and obtain all particulars and documents of evidence to substantiate your claim to insurers
TIP: There are several things you can do in order to greatly reduce the likelihood of suffering a cash loss.
- Staggering timings and dates of bank visits so that they are unpredictable to the observer.
- Try as much as possible to reduce the amount of cash carried by an unprotected person – if large quantities of cash must be moved, consider having an armored guard service instead of an employee.
- Small, regular deposits are preferable to large weekly ones.
- Having a system whereby cash is put in a locked safe (with a deposit slot) at specified intervals would reduce the amounts lost in a hold-up or burglary, provided that the key to the safe was kept off-site, of course.