Cash & Valuables in Transit Insurance

This is an insurance product for companies handling and/or transport valuables, including cash, diamonds and jewellery or other precious goods. The type of cover can be broad, recognising your liability for any type of physical loss or damage to cash or valuables you are responsible for, whether in transit, in storage, or while being processed.

Cash in Transit (CIT) or Cash & Valuables in Transit (CVIT) is the physical transfer of banknotes, coins, jewellery and items of high value from one location to another.

You should always talk to us about the kind of cover you require specifically as this may impact what insurer we use to source you the correct policy and it can also have an impact on your premium.

Many insurers also have exclusions that they will place on their policies, so it is important to completely understand the type of work you will be carrying out so that we can give you the best advice possible and communicate to Insurers clearly what you do.

On some occasions they do via selected registers. The best approach is to declare everything you think is relevant, thus removing any concerns you may have about historical data.

The answer is an emphatic yes! Most insurers will ask you a direct question in relation to liquidation or bankruptcies, it may be for a limited period or ask you to declare any incidents ever. It’s important to answer the question correctly as this is often an area that comes up when insurers are investigating claims.

This is when a proportional amount of the premium is refunded in line with the amount of time that remained on the policy.

This is a non-refundable insurance policy, usually reserved for liability insurance policies.

Policies vary greatly. Some products, like high net worth private household policies give very broad cover including warranty free policies whilst other policies may restrict cover to very narrow set of conditions using policy wordings. It is also true that insurers approach to claims handling varies greatly and you should always enquire as to how well an insurer deals with claims.

Consumer policies tend to have a cooling off period. Some commercial policies will offer a pro rata cancellation refund if cancelled mid-term. Some policies are known as minimum and deposit. This means all the premium is due from the moment you take up the policy with no refunds given. It is always worth consulting with us regarding any questions you have around this. Our aim is always to provide you with the insurance solution which best fits your business and current needs.