What is Money and Securities/StorageFirst?
Money and securities coverage protects cash, checks, money orders, bearer bonds and other negotiable instruments while on your premises, in transit, or in secure storage. Policies typically address exposures such as employee dishonesty, burglary, robbery, and losses during cash-in-transit. This coverage complements property coverage and commercial liability programs by focusing on financial instruments and custody risks rather than building damage or third‑party injury.
Who needs it
Businesses that handle cash or negotiable instruments often purchase this coverage, including retailers, restaurants, banks, wineries, armored carriers and event organizers that collect ticket sales. Small operators and clubs who store receipts overnight or use third‑party transport services also consider specialized money and securities limits to reduce operational exposures.
What it typically covers
Typical coverage elements include on‑premises theft, off‑premises theft while in transit, employee dishonesty/forgery, and loss from locked‑storage or vault break‑ins. Policies may offer scheduled coverage for high‑value items, transit limits, and endorsements for specific exposures such as organized retail theft. Because underwriting varies, many businesses combine money and securities terms with commercial liability or participant accident coverage when running events or tournaments.
Common exclusions or limitations
Common exclusions include losses due to negligence (for example, unsecure transport practices), unexplained shortages, war or contractual liabilities. Many policies limit coverage for unattended shipments, require certified armored carriers for higher limits, or exclude losses resulting from employee collusion unless a specific crime endorsement is added. Underwriting factors and procedural controls—like dual custody, locked safes, and secured deposit protocols—often determine whether certain losses are covered.
Factors that influence cost
Premiums reflect the amount of money or securities insured, frequency of transit, security measures (safes, alarms, CCTV), employee screening programs, and past loss history. Location risk (high‑crime neighborhoods), transportation method, and whether you use armored carriers or in‑house couriers also affect pricing. Insurers will review underwriting factors such as reconciliation procedures and separation of duties when issuing terms.
Proof of insurance & compliance
Clients may need certificates of insurance to satisfy landlords, event venues, or contractual partners. Some venues require specific limits or the addition of loss payee endorsements for stored securities. For context on related operational risk reviews and storefront considerations see Understanding Business Risks and Opportunities. When specialized storage or industry practices apply, a targeted resource like Winery Money and Securities coverage can illustrate sector‑specific terms.
How to get a quote
To obtain a tailored quote, prepare details on typical cash on hand, transit schedules, security measures, and any prior losses. You can Request a quote and provide these details so carriers can evaluate appropriate limits, deductibles, and endorsements. Discussing your procedures with an agent helps identify gaps and match policy wording to your operations.
Risk scenario: a small festival that collects ticket receipts may face both theft in transit and third‑party liability exposures if crowd control is inadequate — combining money and securities protection with event liability can reduce gaps.
Frequently Asked Questions
Do I need separate coverage for employee theft?
Many money and securities policies include employee dishonesty or forgery coverage, but limits and definitions vary—confirm whether internal theft and collusion are covered.
Will my policy cover losses during cash deposits to a bank?
Losses during deposit can be covered if the policy includes off‑premises or transit limits and you follow required security procedures; insurers often require documentation of transit methods.
Can I add coverage for high‑value negotiable instruments?
Yes. Insurers typically allow scheduled limits or endorsements for specific high‑value items; provide appraisals or inventory records when requesting increased limits.
Still have questions? Talk to a local insurance expert.