Money insurance for your business through De Goudse
This policy does not pay for 'money' in the broad sense, but precisely for what the conditions designate as money and negotiable paper. Anyone counting credit balances, gift cards or an unpaid invoice among them is left empty-handed when a loss occurs.
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- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
On a business contents and goods insurance cash is excluded or included up to a token amount. Anyone holding cash in the business daily also takes out a money insurance. Finass acts as an intermediary through, among others, De Goudse, which we apply to when money, business contents, building and business interruption run in one SME package, and compare that objectively with more than thirty other companies.
Start with the definition. Money covers banknotes and coins; negotiable paper covers documents representing a fixed value that are listed in the conditions, such as cheques, postage stamps and excise stamps. What usually does not fall under it: the balance in your bank account, a claim on a customer, cryptocurrency, phone credit and gift cards you issue yourself. The latter are sometimes treated as trading stock and then belong under the goods item. Go through the list literally before you choose an amount.
The second boundary runs between theft and fraud. If money is taken from the till drawer in a burglary or a robbery, that is an insured event. If a payment is made because someone posed as a supplier or director in an email, or because an account number on an invoice had been changed, nothing has been stolen but transferred. That loss falls outside money insurance and belongs on a cyber insurance with a fraud module.
This page deals with one situation. The full overview is on Compare business contents insurance.
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Get coveredWhy arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
What to look out for
Four subjects that determine whether a claim on this policy succeeds.
What the policy recognises as value
The list in the conditions is exhaustive: if a type of paper is not on it, it is not insured, however valuable it may be. Think of fuel cards, travel tickets, credit notes from a franchise chain and third-party gift cards. If in doubt, ask for written confirmation of where such an item belongs, and have it recorded on the policy schedule.
Your records are the evidence
When you claim you have to show how much was present at that moment. Without complete cash sheets, daily closings and receipts, the size of the loss remains an estimate, and an estimate is not evidence. Article 7:941 of the Dutch Civil Code requires you to report the event as soon as you are reasonably aware of it and to provide all information relevant to the assessment.
Transfer fraud is not a money loss
Excluded are, among others false invoices with an altered account number, phishing, misuse of a payment card and a tampered payment terminal. In all those cases payment was made voluntarily, even though it happened under false pretences. A four-eyes principle for changing creditor details prevents more loss here than any policy can.
Who holds keys and codes
Embezzlement by your own staff is excluded as standard. There is separate fraud cover for that with its own acceptance requirements. Insurers therefore ask how key and code management is arranged, who may open the safe and what happens when someone leaves. Agency staff and cleaners with access outside opening hours are a point to discuss in advance.
What does your premium depend on?
- Share of cash turnover: how much actually comes in physically
- Maximum per section: on the premises, in transit and kept at an employee's home
- Number of tills and branches: more points of receipt means more exposure
- Place of safekeeping and key management: safe class, anchoring and who has access
- Route to the bank: deposit machine, your own staff or a cash-in-transit firm
- Administrative organisation: cash sheets, separation of duties and checks on discrepancies
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | At the company | During transport |
|---|---|---|
| In a burglary outside opening hours, the till drawer is broken out of the counter | Yes | No |
| Your employee is robbed of the day's takings on the way to the bank's night safe | No | Yes |
| During opening hours the till is emptied in a hold-up | Yes | No |
| A customer pays with counterfeit money that you only notice at the daily closing | No | No |
| The deposit bag goes missing on the way without anyone being involved | No | No |
| Your manager takes the weekend takings home and keeps them there until Monday | Provided that | Provided that |
What matters throughout is where the money was and whether it was taken or given away by you.
Frequently asked questions
This is what people ask us most.
Are gift cards I issue myself insured?
Usually not as money or valuables. A card you issue yourself represents an obligation of your business and not a value you lose through theft. After all, you can block the number. Cards from an external issuer that you buy in and resell are a different matter and are often treated as trading stock. Have it recorded which treatment applies in your situation.
We have been defrauded with a false invoice. Can I claim for that here?
No. Money insurance covers the taking of physical money or negotiable paper by an insured event. With a false invoice, your own employee made the payment, so there is no theft within the meaning of the policy. This form of fraud belongs on cyber or fraud cover, where the insurer will ask about your payment procedure.
How high should the sum insured be?
Take the highest amount that may be present at any one moment, not the average. Think of the day before a long weekend, a busy promotion day and the moment just before banking. If you choose too low, the excess amount is not paid; if you choose too high, you pay premium on money that is never there and the insurer sets stricter requirements for the safe.
Do I have to report the matter to the police before the claim is handled?
Yes, for theft, robbery or embezzlement almost every insurer requires a police report. Report it with as precise a statement of the amount as possible and keep that day's cash sheets. If you knowingly provide an incorrect statement, the right to payment lapses; the duty of disclosure when claiming is not optional.
Every situation is different. For these situations we have a separate page.