Money Insurance
At Bima Vista, insurance isn’t just protection—it’s empowerment with vision.
We deliver clear, modern solutions that secure your life, health, and future.
Frequently Asked Questions
1. Can small businesses like local shops or cafes take this policy?
For new vehicles: RC or invoice details. For renewals: previous policy and RCYes. This policy suits any business that regularly handles money.. Some insurers may ask for basic ID proof. Driving license is not required at purchase, but is needed if a claim is made.
2. What type of safe is required for coverage at the premises?
The safe must be burglar-proof and approved by the insurer. Regular lockers may not qualify.
3. Will the policy cover cash lost during salary payments to workers?
Only if you take the wage disbursement add-on. Standard cover does not include it.
4. What if money is transported by bike or public transport?
It may still be covered, but insurers could charge a higher premium or add conditions depending on the risk.
5. Is a police report needed when making a claim?
Yes. For theft or robbery-related claims, a FIR (First Information Report) must be submitted, along with supporting documents.
Because Cash Losses Hit Hard
In any business, handling money is routine, whether it’s collecting payments, making deposits, or paying wages. But cash is also one of the most vulnerable assets. A single theft, burglary, or mishap can lead to a serious financial loss.
Money Insurance protects your business against loss of money, both while it’s being transported and while it’s stored safely at the premises.
What Does It Cover?
- While Travelling (Transit Cover)
Covers money lost while being taken to or from the bank, to pay salaries, or for any official work. Loss is covered if it happens due to:
- Robbery
- Theft
- Accidents or any sudden unexpected incident
This also applies when employees carry the money, as long as they’re authorised.
The policy includes:
- Limit per trip – maximum amount the insurer will pay for a single event
- Annual estimate – the total amount expected to be carried during the year (used to calculate premium)
If your actual amount carried ends up being more than what was estimated, the claim payout might be reduced. This is called a penalty for under-declaring.
- At Your Premises (Safe Cover)
Covers loss of cash from a locked, burglar-proof safe at your business premises — caused by:
- Break-ins (burglary)
- Armed hold-ups
- Violent entry or exit by robbers
Note: This doesn’t cover theft by your employees or family members, unless you buy the optional cover for that.
Real Example to Understand It
Let’s say:
- You estimate ₹50 lakhs will be transported during the year.
- But you actually end up carrying ₹1 crore.
- If you face a loss and try to claim ₹10 lakhs, the insurer might only pay ₹5 lakhs, because you were only 50% insured.
This is why it’s important to accurately declare your expected cash movement.
What’s Not Covered?
- Theft by employees or insiders (unless extra cover is taken)
- Shortage of money due to errors, miscalculations, or forgetfulness
- Loss during riots, strikes, or terrorism (can be added at extra premium)
Optional Add-Ons
You can upgrade your policy with:
- Cover for employee dishonesty during cash handling
- Cover for wage payments (disbursement losses)
- Protection against riot, strike, and terrorism losses
How Is Premium Calculated?
It depends on:
- The maximum amount of cash handled in one go
- The total money handled in a year
- The mode of transport (car, bike, security van, etc.)
- Whether there are guards, alarms, or other safety measures
- Any previous theft/claim history
If you choose a declaration policy, the insurer will charge you based on your estimate, and adjust the premium once you declare the actual numbers at year-end.