This policy covers the insured for loss of money (as specified in the policy), while on transit to the bank or in the insured’s premises through theft or hold up. It also covers damage to safes/or strong rooms, including cash in the hands of authorized personnel.
Cover can be extended to include Personal Accident to the insured or his employees.
What Determines The Premium?
Limit chosen for each loss
Estimated annual carryings among other factors.
This policy is not meant for individuals but for businesses