A SECURE JOURNEY FOR MONEY

Your most precious paper currency notes, cheques and drafts, postal orders etc. is very portable but its safety during transit is an acute concern. Bharti AXA's Money Insurance Policy is the ideal answer in such a circumstance. It covers "Money" carried by the Insured or the authorized employees / messengers of the Insured while in transit from the time it is taken out till it is received at the destination-points of origin and destination being specified before-hand. Money that has not been disbursed and has been retained in a safe is also covered.

Money shall mean and include cash, bank drafts, currency notes, treasury totes, cheques, postal orders and current postage stamps.

Bank shall mean and include Bank of every description, Post office and Government Treasury.

Money in transit shall mean

a. Money for, the payment of wages, salaries and other earnings or for petty cash, in direct transit from the Bank to the Insured's premises from the time the money is received from the Bank by the Insured or the authorised employee/s of the Insured until delivered at the premises or other place of disbursement and whilst there until paid out provided that out of business hours, such money shall be secured in locked safe or locked strong room on the premises.
Cheques drawn by the Insured to provide for such money are also covered whilst in transit from the premises to the Bank.

b. Money (other than described in item a. above) in personal custody of the Insured or the authorised employee/s of the Insured whilst in direct transit from/to Insured's premises /Bank/Post Office/any other specified premises.

c. Money (other than described in items (a) & (b) above) collected by and in the personal custody of the Insured or the authorised employees of the Insured whilst in transit to the premises or Bank within a period not exceeding 48 hours from the time of collection.

Money in safe shall mean money (other than described in item a. above) whilst on the Insured's premises during the business hours or whilst secured in locked safe(s) or locked strong room on the Insured's premises outside business hours.

Scope of cover:

The Policy indemnifies the Insured against -

i. loss of money in transit, by the Insured or the Insured's authorized employee(s), occasioned by robbery, theft or any other fortuitous cause.

ii. loss of money in safe, defined above, by burglary, housebreaking, robbery or hold-up, provided always that the limit of the Company's liability for any one loss shall in no case exceed the amount specified against any respective section in the said Schedule to the Policy.

Exclusions

The Policy excludes the following:

1. Shortage due to error or omission.
2. Riot, strike, civil commotion unless specifically agreed for.
3. Terrorism.
4. Unexplained losses and mysterious disappearances.
5. Loss or damage due to flood, cyclone, earthquake and other convulsions of nature, war and war like operations.
6. Loss or damage arising out of use of key(s) to safe(s) or strong room unless such keys are obtained by force or threat.
7. Money entrusted to any person other than the Insured or an authorised employee (except due to the employee's fraud or dishonesty discovered within 48 hrs).
8. Legal liability, consequential loss, theft from an unsecured vehicle and consequential loss.
9.  Money entrusted to a carrier.
10. Loss due to any act in which the Insured is involved as principal or accessory.