Cash is the only business asset that disappears without trace, which is why cover here hangs entirely on clauses: where the money is kept, who transports it and at what time it goes into the safe.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
We compare the offerings of several insurers
An adviser checks whether the cover suits your activities
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Money insurance covers money and negotiable paper against loss through theft, robbery, hold-up, fire and disappearance. Besides banknotes and coins, money and valuables include gift vouchers, credit notes, postage stamps and sometimes fuel cards. The cover is divided by location: in the safe, in the till during opening hours, in transit to the bank, and at an employee's home.
For each of those situations there is a separate limit and a separate condition. The safe clause describes what type of safe is required, whether it must be anchored and what amount may be kept outside that safe. If that amount is exceeded at the moment of the burglary, the excess amount is not paid, however heavy the safe may have been.
With transit, everything turns on the transit clause: the maximum per journey, whether two people must go along, and whether fixed routes and times are prohibited. We check those provisions against how you actually work, because that has usually grown out of habit rather than out of the policy.
The structure of the cover in three parts, with an overview per situation below.
Our role
Independent
We are not tied to any single company.
Several providers compared
Advice follows your situation
AFM licence 12016589
When taking out cover
What we do
From assessment to policy.
Matching cover to your work
Conditions side by side
Switching, including cancellation
After that
In the event of a claim
What really matters.
Notification and guidance
Assessing a rejection
Objection where necessary
What is covered
What we look at
Explanation
Does the cover suit your activities
Yes
Sum insured and excess
Yes
Exclusions and clauses
Yes
Fit with your other policies
Yes
Premium in relation to the conditions
Yes
Comparing on premium alone
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
The safe clause determines what may stay in the till
Almost every policy has a lower sum insured for money outside the safe than for money in it, and sometimes a time after which everything must be locked away. If your staff work with a full float until closing time, that is a risk you bear yourself as soon as the limit is exceeded. A deposit safe into which notes disappear during the day reduces the exposure more than any sum insured can.
Transit to the bank is a separate section
As soon as the money leaves the premises, transit cover applies with its own limit per journey. Conditions often require that above a certain amount two people go along or that a cash-in-transit firm is engaged. Avoiding a fixed time and a fixed route is also frequently included, because hold-ups are almost always prepared in advance. If your practice differs from this, the cover is not watertight at that moment.
Hold-ups, robbery and the effect on your staff
Besides the amount taken, the policy usually also pays for the damage to the building and the interior caused during the break-in or hold-up: the forced door, the wrecked till drawer, the damaged safe. Injury and the psychological effects on employees do not fall under it. Those run through your liability as an employer under Article 7:658 DCC and through a collective personal accident insurance.
What is not included
Excluded are cash shortfalls from counting, change-giving or booking errors, and losses that only come to light at the month-end close without any identifiable event. Misappropriation by your own staff is usually not in the basic cover but in a separate fraud module with its own reporting requirements. Counterfeit money accepted, losses through banking or payment fraud by digital means and receivables from debtors also remain outside; digital fraud belongs with cyber insurance.
What does your premium depend on?
Average and maximum cash held on the premises. Not your annual turnover but the amount on the premises at any one time determines the premium.
Type of safe and how it is anchored. The security rating determines what amount is insurable. Without a suitable safe the limit stays low.
Frequency and size of cash movements. Daily banking by your own staff is assessed differently from weekly cash-in-transit collections.
Number of branches and tills. More till points means more places where money is held outside the safe.
Security and alarm response. A burglar alarm with a certified monitoring centre, cameras and access control weigh in acceptance and rate.
Location and opening hours. Evening opening and a stand-alone building present a different hold-up risk from a patrolled shopping centre.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your activities, turnover and wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Does this policy replace my business contents or burglary insurance?
No. Business contents and goods insurance almost always excludes money and valuables, or pays only a token amount for them. This policy fills exactly that gap. Conversely, money insurance does not pay for your stolen stock or till system. After a burglary two covers therefore run alongside each other. We make sure the excesses and the claim notification fit together.
An employee takes money. Is that covered?
Not under the basic cover. Embezzlement and theft by your own staff form a separate risk, because the perpetrator has legitimate access and the loss often only comes to light after months. There is a fraud or fidelity policy for that, usually on condition that you report the matter to the police and that the loss is discovered within a set period. Separation of duties in the cash administration remains the most important measure.
We always bank at the same time. Is that allowed?
It is allowed, but many policies specifically prohibit a fixed pattern, because hold-ups on cash movements are almost always prepared by observation. Varying times, varying routes and inconspicuous packaging are standard conditions. If you are held up while consistently travelling at fixed times, the insurer can rely on a breach of the transit clause and limit the payment.
Are gift vouchers and credit notes insured as well?
Often yes, because negotiable paper falls within the description of money and valuables. What matters is whether the voucher itself represents the value or whether it is tied digitally to your records. A paper bearer voucher is insurable. A credit balance recorded in your till system is not, because you can simply issue it again after a loss. We have that distinction set out expressly on the policy.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
