This type of insurance is included in the package insurance of financial institutions (BBB), however it can also be acquired individually. This policy insures both valuables owned by the Insured person as well as valuables owned by other legal and natural entities for whose safety the Insured person is liable.
Objects of insurance:
russian and foreign currency cash;
payment documents denominated in Russian and foreign currency, including travel, registered and clearing house checks, share certificates, bonds and warrants, promissory notes, bills of exchange, and certificates, other documents certifying the title and other ownership rights, etc;
property stored in deposit safe cells or safes leased by the Insured person or provided to third parties for use (can be included in the policy under a special agreement).
Insurance period:
the period of storage in banks’ safe rooms or depositaries or valuables transportation by owner banks or specialized cash collector companies as well as for the period of cash operations on the territory of the Insured person.
Insurance compensation is paid (within the Insured person’s liability limit):
in the amount required for the recovery of lost valuables or titles to the same, provided the recovery is possible for the type of valuables, terms of their issue and the insignificant damage to them;
at face value for lost cash, travel and registered checks denominated in Russian rubles;
at the official RF Central Bank rate as at the date of loss – for cash, travel and registered checks denominated in currencies other than Russian rubles;
at the official rate as at the date of loss – for any other valuables provided the recovery of such valuables or title to the same is impossible. The official rate is the rate set by the RF Central Bank, RF Government or any other authorized bodies, in the event of its lack it is the accepted market price of such valuables.
Storage valuables insurance:
The Insured person is compensated for the losses associated with the damage caused by theft, robbery, impairment or destruction of valuables under storage.
Ingosstrakh’s liability starts as of the moment of valuables’ transfer by the transporter or clients of the bank to the Insured person against receipt and terminates at the moment of valuables transfer back to the transporter or bank clients against receipt.
Transit valuables insurance:
The Insured person is compensated for the damage caused to valuables owned by him during their transit on the Insured person’s instruction by an employee of the Insured person or any other party, a courier appointed by the Insured person, or in an armored vehicle by the representatives of a cash collector company.
Compensation of damage caused by the impairment or destruction of valuables, theft, robbery and any other unlawful acts of third parties, non-delivery or shortage.
Some cash collector companies insure their transportations; however insurance coverage acquired by them has a small limit of liability and does not provide complete compensation of potential damage.
Ingosstrakh’s liability starts as of the moment valuables acceptance by the transporter at the sending office against receipt, is effective during the whole period of transportation (including loading, unloading, reloading, transfer and transit storage) and terminates at the moment of valuables submission to the recipient against receipt at the destination point.
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