What is Building and Money cover?

Many New Zealand small businesses deal with money in a physical form at some stage of their operations. This can include cash, cheques, and banker’s drafts. Unfortunately, money theft can occur at any hour of the day or night, both during and outside of business hours. Money cover can compensate your business for loss of money due to theft.

Money Cover*

Money insurance protects your business money (which will include not only cash and cheques, but also items such as lottery tickets, gift cards, postal orders and stamps) by providing cover for loss or damage to it whilst on your premises or in transit.

Did you know?

Money in transit generally includes money contained in a night safe or automatic teller machine. Money in transit insurance has you covered from the time you deposit the money until the time your financial provider ceases trading the following day.

What’s typically covered?

• Business Money in transit
• Business Money in your building/s
• Business Money in private residence

What’s typically NOT covered?

Loss of money:

• Caused by clerical or accounting errors
• While being carried by professional money carriers, professional carriers or common carriers
• From any unattended vehicle
• From any safe or strongroom opened by a key or by use of a combination that are left in the building outside business hours.
• Outside of Australia (subject to additional benefit – Traveler’s money).

Things to consider

Does your business hold money on-site, or do you transport money to and from your business premises? You might not have to deal with large sums of money to make this insurance product a worthwhile purchase. Ask yourself if you could cope with the loss of the cash you currently have on your premises or regularly transport. If you determine that it would have a significant impact on your business, Money cover may be a suitable product for you.