What??? That makes no sense, unless you have a loss…
On most Standard Property Policies(renters/condo/home/business) There is a limit on how much the insurance company will pay for cash that was involved in the loss.
Whether it be theft, fire or tornado the standard contract reads as follows:
SPECIAL LIMITS ON CERTAIN PROPERTY(Coverage C)
$200- Money, bank notes, coins and medals.
So no matter how much money was stolen or destroyed, only $200 will be reimbursed. Think twice about stashing money under your mattress!Continue reading