Money Insurance for Businesses.

Despite the increase e-mobile wallet, credit card and internet-based transaction, the use of cash in SME business is still prevalent. In fact, businesses attain an estimated RM2.7 Billion transaction cost by opting for cash payment in daily business transactions, excluding loss occurred due to crime rates.  

To protect your business from loss of cash due to unforeseen circumstances, business owners have increasingly opted for money insurance. Money insurance is often bundled up with other business insurance as a package. However, on its own, it can be purchased.

What is Money Insurance?

This insurance policy essentially covers for loss of money due to unforeseen circumstances. For example:

a) While in transit from business to the nearest bank account of the business.

b) While kept in a locked safe in the business premises or at a cash register.

Money Insurance also covers for additional coverage such as:-

  • Compensation to the person in charge who carries the money from the Insured premises to the bank who may be injured in the event of robbery.
  • Cost of replacement of the cash register and/or deposit box where money was kept within the premises.

However, there is limitations to the Money Insurance Policy. To be eligible for an insurance claim, one would need to prove that the loss of money in premises or during transit does not fall in the following exclusions:

  • Caused by shortages resulting from clerical or accounting errors
  • Not discovered within 10 working days of the occurrence of loss of cash
  • Due to dishonest acts of your directors, employees or any member of your family
  • Loss due to unattended vehicle
  • From any safe or strongroom opened by a key or by use of details of the combination which have been left at the location during non-business hours


a) Bakery shops.

b) Restaurants.

c) Sundry Shops.


Premium Rates are determined by a number of factors.

1) The total number of Cash that would be carried per year, otherwise known as the estimated annual carrying.

2) Maximum amount of cash carried at any one time during transit. The client would need to specify the maximum amount of cash per transaction that will be deposited to the bank. Moreover, client would also need to keep a record book and deposit slips of cash payment deposited into the bank in event of a insurance claim.


  • Completed Claim Form prepared by the Insurance Company detailing the claim, amount loss, incident scenario, etc.
  • Police Report
  • Copies of the Insured’s accounting records or other documentation to establish the exact amount of loss
  • These will include copies of receipts, payment vouchers, pay-in-slips, cheques books, bank statement
  • Furnish all information and documentary evidence as required by Insurers or Adjusters other than the above