Money insurance for your business through Klaverblad
As long as people pay in cash, there is money in your business. On the business contents policy that is excluded, and it is precisely around the till that a claim comes unstuck on the details.
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In brief
On a business contents insurance cash is usually excluded or included up to a token amount. Anyone holding cash in the business daily therefore takes out separate money insurance. Finass acts as an intermediary through, among others, Klaverblad, which within the commercial segment is used mainly for retail, hospitality and smaller service providers, and compares that objectively with the offering of several insurers.
The policy works with sections by situation: money present in the business during and outside opening hours, money in transit, and money kept at the owner's or an employee's home. Each section has its own maximum and its own conditions. What counts as negotiable paper is set out exhaustively in the conditions; gift cards and credit notes are by no means always treated as value, sometimes as trading stock.
For a shop or hospitality business, the assessment turns mainly on the routine around the till: how much stays in the drawer, when it goes to the safe, who takes it away and by which route. Klaverblad sets that routine down in clauses. If practice differs from it at the moment of the theft, that is not a detail but the ground for refusal.
This page deals with one situation. The full overview is on Compare business contents insurance.
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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 on which cover for cash comes unstuck.
A hold-up affects your staff too
Money insurance pays for the amount taken, not for the effect on the people behind the counter. As an employer you have a duty of care under Article 7:658 of the Dutch Civil Code: instructions on how to act in a hold-up, a panic button, a clear view of the till and aftercare afterwards. Psychological injury after a hold-up is a real claim and belongs with employers' liability.
Who takes the money away and how
For transit, the policy states the maximum per journey, the requirement that the person carrying it is an employee and sometimes a minimum age or a second person. Money left in a parked vehicle is almost never covered. A fixed time and a fixed route are also a risk insurers expressly want to know about; vary them.
Cash discrepancies, counterfeit money and card fraud
Without an identifiable event there is no insured incident: unexplained cash shortfalls and bookkeeping discrepancies are yours to bear. Nor does cover extend to counterfeit money you accept, misuse of a stolen payment card and a tampered payment terminal. Embezzlement by your own staff is excluded and calls for fraud cover.
Money away from the business
If you take the day's takings home, or run a stall at a market or event, the money is away from the policy address. For the private home a separate and usually low maximum applies, with the requirement that the money is not kept in view. Temporary sales locations must be notified in advance; otherwise there is no cover for those days.
What does your premium depend on?
- Average cash held: what is actually present at any one moment
- Sector: hospitality with evening takings weighs differently from an office
- Opening hours: opening in the evening and at night raises the risk
- Safe and alarm: class of safe, anchoring and alarm response
- Method of banking: deposit machine, your own transport or a service provider
- Claims history: an earlier hold-up or burglary weighs heavily
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | On the business premises | On the road |
|---|---|---|
| Robbers force the till drawer open during opening hours | Yes | No |
| Burglars break open the anchored safe at night | Yes | No |
| An employee is robbed on the way to the deposit machine | No | Yes |
| The day's takings are still in the drawer while the clause required banking | Provided that | No |
| The cash bag is left in the parked car during a stop on the way | No | No |
| At the count, money turns out to be missing without any identifiable incident | No | No |
Each section has its own maximum. The amount that may be present at that moment is stated in the clause on your policy schedule.
Frequently asked questions
This is what people ask us most.
Is cash not simply included on my business contents policy?
Rarely. Money is excluded under most business contents conditions, and where it is mentioned a sub-limit applies that comes nowhere near a day's takings. For businesses settling in cash daily, separate money insurance is the right route. It can run in the same package as the business contents and the building.
Do I have to bank every day?
That depends on the clause on your policy. Usually there is a maximum for the amount that may stay outside the safe and a maximum for the amount that may be in the safe; above that limit it must be banked. If you do not keep to that frequency, the loss is assessed as if you had banked and the excess amount stays uncovered.
Are cash discrepancies at the end of the day covered?
No. Insurance pays for loss from an event, and a shortfall that only shows up at the count without forced entry, robbery or an identifiable incident is not one. Insurers exclude this expressly to prevent internal errors and embezzlement being claimed by that route. Keep cash sheets, and a genuine incident can be demonstrated.
What if I keep the day's takings at home?
That can be covered under the section for money at a private home, but up to a limited amount and often only for theft after forced entry. Do not store the money in view and do not keep it longer than necessary. Do not forget that the journey home falls under the transit section, with the conditions that apply to it.
Every situation is different. For these situations we have a separate page.