Money insurance through Nationale-Nederlanden
As soon as money moves between several sites and several pairs of hands, the question is no longer whether it is insured, but at which moment and in which place.
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Work out for yourself what it would cost.
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- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
Money insurance pays for the loss of cash and negotiable documents through theft, robbery, hold-up, loss or destruction. Finass arranges cover through, among others, Nationale-Nederlanden, which often comes into the picture for organisations with several branches that want to keep their business cover in a single contract. We make the comparison with more than thirty other companies objectively. The choice follows from your situation.
Where there are several sites, the schedule of locations is the heart of the policy. For each branch it records the maximum amount that may be present, during and outside opening hours. A branch added later and not notified falls outside the cover, however obviously it belongs to your organisation. The same applies to a temporary site or a central counting point where the takings come together.
The second point to note is the handover. As soon as a specialist carrier takes over the money, the risk shifts to that firm and to the liability set out in that contract, usually with a considerable limitation. Your policy then still covers the stage before and after. Have the moment of formal handover recorded, because otherwise that is exactly where the gap sits.
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.
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We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
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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 points that weigh more heavily than the sum insured for an organisation with several tills or branches.
A maximum per site and per moment
The policy does not name one amount but a series: in the till, in the safe, during counting and during transit. If the maximum is exceeded on a busy day, the excess amount is uninsured. Discuss peaks around public holidays and promotions in advance, so that a temporarily higher amount can be agreed rather than a reduction applied afterwards.
Outsourced cash in transit
If you work with a cash-in-transit company, the contract with that party determines what you are paid if something goes wrong on the way. That liability is usually limited by contract. Your money insurance does not automatically cover that difference. Set what the carrier pays alongside where your policy begins, and have the join written in explicitly.
Machines, sealed bags and time locks
Separate requirements apply to deposit machines, sealed-bag systems and cash machines: anchoring to the floor, a time lock, and sometimes an exclusion for machines accessible from the outside wall. Ram-raids and explosive attacks are a real scenario for the latter. Without the right clause the contents of such a machine are not covered, even if it stands indoors.
What does not count as money
The policy is about physical cash and designated negotiable documents. Digital balances, manipulated payment instructions, invoice and CEO fraud and credit card misuse fall outside it: nothing has been taken away in the sense of this cover. Those risks belong on a cyber insurance or on fraud cover, with their own discovery periods and requirements for internal controls.
What does your premium depend on?
- Number of locations: each branch brings a risk of its own
- Total amount held: added up across all sites and moments
- Method of transport: your own staff or a specialist carrier
- Security per premises: safe grade, time lock, cameras and alarm response
- Type of business: retail chain, catering, filling station or services
- Claims history: earlier incidents at one or more branches
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Basic | Extended |
|---|---|---|
| A hold-up at the till during opening hours | Yes | Yes |
| A burglary outside opening hours in which the safe is broken open | Provided that | Yes |
| A member of staff is robbed on the way to the bank's night safe | No | Yes |
| A counterfeit note turns out to have been accepted at the counter | No | Provided that |
| Gift vouchers and stamps are lost in a fire at the branch | Provided that | Yes |
| A till operator takes small amounts from the drawer for months on end | No | No |
Cash in transit and loss caused by your own staff are separate sections that must be stated expressly on the policy schedule.
Frequently asked questions
This is what people ask us most.
Does the cover apply automatically to a new branch?
No. The policy works from a declaration of addresses and amounts per address. A new site must be notified before money is held there. Some conditions include limited automatic cover for new branches for a short period, provided you notify them within that period; once it expires, there is no cover.
Am I still insured when a security firm collects the money?
From the moment of handover the risk lies with the carrier, within the limits set out in that contract. Your policy covers the stage before that, for example preparing and presenting the consignment. Ask the carrier what it pays per consignment and tell your insurer how the handover works, so that no gap is left in between.
Are the amounts in a cash or deposit machine covered?
Only with a clause that says so, and almost always subject to conditions about anchoring, time delay and siting. Machines that can be reached from outside are excluded more often because of ram-raids and explosive attacks. Check who manages them as well: if an outside party handles the filling, the same question about the transfer of risk arises.
What if the sum insured is structurally too low?
You will not be paid the excess amount after an incident, even if the rest of the policy is in order. The duty of disclosure also plays a part: if you declared lower amounts on the application than you actually hold, the insurer can rely on Articles 7:928 and 7:930 of the Dutch Civil Code. Update the declaration if your turnover pattern changes.
Every situation is different. For these situations we have a separate page.