Money Insurance

Generally, no. Most Indian insurer specify that cash is only covered if kept in a locked Godrej-type steel safe or a strong room that is permanently bolted to the floor. If a theft occurs from a regular desk drawer, the claim might be rejected.

In India, insurers often mandate that cash must be moved to a secure safe or bank before the business closes for the day. If you leave a large amount of cash in the cash counter/till overnight and it gets stolen, it is usually not covered.

Yes, but with conditions. The policy covers “Money in Transit” only if the employee is following a direct route from the business to the bank (or vice versa). If the employee goes home or stops for lunch with the money and it gets stolen, the insurer may dispute the claim.

Yes. Most Indian policies have a “Single Carrying Limit.” For example, if your policy limit is ₹10 Lakhs but your single carrying limit is ₹2 Lakhs, and you lose ₹5 Lakhs in one bag, the insurer will only pay ₹2 Lakhs.

No. Money insurance covers Theft, Burglary, and Robbery (Dacoity). It does not cover “Mysterious Disappearance” (where you just realize money is missing but don’t know how) or “Shortage due to error/omission.”

Absolutely. In India, no money insurance claim is processed without an Original FIR (First Information Report) filed with the police and a “Non-Traceable Report” (Final Report) provided later.

This is not covered by default. You must specifically ask for an “Extension for Collection Agents.” They must also deposit the cash into the office/bank within a specified time (usually 24 hours).

Standard Money Insurance excludes theft by employees. For that, you must buy Fidelity Guarantee Insurance. Money insurance only covers external theft (e.g., a bag snatcher or an armed robbery).