Cash in Transit Insurance
How do I know if I can purchase cash in transit insurance?
Verifying your business type is necessary to know if you can purchase cash in transit insurance. Businesses that transport large sums of money are eligible for cash in transit insurance. For detailed information and clarification, you can reach out to KBZMS Call Centre (+959) 95 007 7000 if you have any questions.
How can I get cash in transit insurance?
To get cash in transit insurance: please provide the following details
- Cash carrying route including starting & ending locations
- Amount to be insured for each transit
- Type of Vehicle (Office Car or Passenger Car or Special Cash Conveyance Vehicle)
- Name & Rank of the persons accompanying for the route
- Apply with the necessary documents and pay the premium to start coverage.
What are the required documents for cash in transit insurance?
- Completed Proposal Form
- Cash Carrying Person Name and a copy of his/her NRC/ID
- Type of Vehicle to be Carried Cash, Vehicle Number and a Copy of Wheel Tax
- Driver’s Name and a Copy of his/her Driving License
- Other Relevant Documents
What is the important point to know about cash in transit insurance?
Cash in transit insurance does not cover losses arising from fraudulence or dishonest act by employees. However, you can buy Fidelity Insurance for cash carrier for this coverage.
What is the premium rate for Fidelity Insurance if you purchase it with cash-in-transit insurance?
The premium rate for Fidelity Insurance will be charged 20% on the total premium of cash-in-transit insurance.
What are the payment options?
After receiving the Debit Note, you can pay the premium at the KBZMS offices or directly to KBZMS bank accounts via KBZ bank QuickPay services or other KBZMS designated bank accounts through mobile banking or internet banking, or nearest bank branches of Major banks. Please refer to the Debit Note for the detailed bank account information.
What should I do when I want to make a claim?
Notify the KBZMS Call Centre at (+959) 95 007 7000 immediately and let us know the following:
- Brief Details of the Claims Event
- Contact Information
- Cash Register
- Police Report
