Money Insurance
THE POLICY
The Money policy covers money and negotiable instruments against loss or damage including theft.
WHO NEEDS THIS COVER?
Suitable for a range of Church operated organisations and businesses where the Composite Risks Property policy is not well suited, for example, on short term covers such as fetes or special events with high sums insured.
DEDUCTIBLE/EXCESS
The cover is subject to a $500 deductible.
LIMITS OF LIABILITY
The limit of liability is the amount shown on the schedule as the limit any one loss.
FIRE SERVICES LEVIES and STAMP DUTY
Fire services levies do not apply but the appropriate state stamp duty is added to the premium.
FEATURES and BENEFITS
The policy defines money as current coin, bank notes, currency notes, cheques (excluding nonnegotiable cheques), credit card sales vouchers, postal notes, money orders, unused postage and revenue stamps.
Money can be insured:
- In transit to or from the premises specified in the schedule whilst in the personal custody of the insured and/or persons authorised by the insured.
- Contained in the night safe of any bank where the insured normally transacts business.
- On the premises specified in the schedule.
- In the personal custody of persons authorised by the insured whilst contained in their homes including whilst in transit thereto or therefrom.
The same amount or different amounts can be specified for the above and the premium is calculated accordingly.
IMPORTANT POINTS
The policy does not cover:
- Loss due to shortages resulting from clerical or accounting errors or loss due to errors in receiving or paying out.
- Loss not discovered within seven working days of the occurrence.
- Loss or damage by or through the collusion of or the fraudulent embezzlement by or fraudulent misappropriation by the insured or their employees.
- Loss or damage to money carried by professional money carriers.
- Loss from an unattended vehicle.
- Any consequential loss whatsoever.
TAKING OUT A POLICY
Catholic Church Insurances Limited will assist in obtaining information necessary for providing a quotation and issuing a policy.
In the event of a loss the Insured must:
- Give immediate notice to the police and to us.
- Take all practicable steps to discover who is responsible and to recover the lost money.
- Provide written details to us within 30 days of the loss.
Please note: this information sheet is not intended to replace the policy wording. It is designed for information purposes only and should be read in conjunction with the policy wording. For further information or a full copy of the policy wording please contact Catholic Church Insurances Limited on 1300 655 001.
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