Section 3 - Money
Every individual, business, and organisation handles cash and a school is no exception. Section 3 of the policy covers money belonging to or in the care of the school.
What is covered?
The definition of money is very wide -
'Banknotes, coins, cheques, postal and money orders, unused postage stamps, contents of franking machines, saving stamps and certificates, prize and premium bonds, bankers' drafts, credit card sales vouchers, giro payment orders, VAT vouchers, gift tokens, trading stamps, luncheon vouchers, car park season tickets, travel tickets and travellers' cheques'
This definition covers the requirements of all but the exceptional school. If you have a special requirement let us know and we can amend your policy for you.
What are the main Limits?
|1. Recorded Crossed Cheques and/or Crossed Money Orders||€320,000|
|2. Money on School Property whilst|
|a) Within any building occupied and used by the Insured||€ 13,500|
|b) In locked safe(s) or strongroom(s) when the building is unoccupied and unattended||€13,500|
|3. Money in transit or in a bank night safe||€ 13,500|
|4. Personal Money belonging to any member of the teaching staff of the School||€ 1,000|
|5. In the residence of any person authorised by the Insured||€ 320|
|6. Loss of or damage to safe(s) or strongroom(s)||Cost of Repair or Replacement|
|7. Financial loss following misuse of any Credit Card||€ 7,500|
|8. Any other loss of Money not otherwise excluded||€ 1,000|
What other cover is provided under this Section?
The time when you will have the most money on school premises will be when school fees (or other money) are being collected and for two weeks before and two weeks after the collection date the limits are doubled. In addition, if any employee is injured in an actual or attempted robbery the policy will pay a benefit to the injured person.