What does a money insurance policy cover? Is it a viable option?
A money insurance policy covers liquid currency, either at your house, or while it is being transported elsewhere. Various events are covered, including thefts, break-ins as well as accidents. Damage to any vessel, such as a safe, vault or a bag used to store money, is also covered. An advantage of such a policy is it even covers loss of money due to clerical or accounting errors.
With increased use of plastic, people keep less liquid currency at home, in small amounts, which do not require insurance. However, if you are in a business or profession which requires you’re keeping large amounts of money around your premises, or if you have to transport the money, getting a money insurance policy is a very good idea.
