Business package insurance
Does business package insurance cover cash and money in transit?
On many packages, for small sums. 5 of the 8 insurers we price include money in the premises or in transit, from S$1,000 to S$5,000 each where the sum is given; 1 sells it only as an option; 2 do not mention it in the details we hold. A business that handles more cash can ask for a higher sum.
The figures
- Insurers compared: 8.
- Insurers whose plans include it: 5.
- Insurers that sell it as an optional extra: 1.
- Insurers whose details we hold do not say: 2.
- Cheapest plan from an insurer that covers it, for a cafe with 5 staff and S$100,000 of contents and stock, renting its premises: HL Assurance Business Protect360, S$218.00 a year.
What each insurer says
| Insurer | Covered? | What its details say | A year |
|---|---|---|---|
| HL AssuranceYesBusiness Protect360, S$218.00Buy Now | Yes | Business Protect360’s base covers on HL Assurance’s quote: money in the premises S$5,000 and money in transit S$5,000. | S$218.00 |
| EQ InsuranceYesEQ Business Food & Beverage (Restaurant), S$381.50 | Yes | EQ’s form: money in transit S$3,000, and money in the premises S$3,000 in locked drawers, cabinets or cash registers after business hours (S$1,000 each for a stall); each can be raised to S$20,000. | S$381.50 |
| SompoYesSpectra Food and Beverage, S$389.40 | Yes | Sompo’s application form includes money in every Spectra plan’s base premium. The form does not give the sum in the details we hold. | S$389.40 |
| MSIGYesSUMO, S$408.36Buy Now | Yes | SUMO: money and business interruption included | S$408.36 |
| Tokio MarineYesTM Dining Suite, S$545.00 | Yes | Tokio Marine’s form: money in transit S$5,000, and money in the premises S$5,000 during business hours; each can be raised to S$20,000. | S$545.00 |
| Great AmericanOptional add-onEIP PLUS F&B, S$272.50 | Optional add-on | Optional on Great American’s form, not in the price here: loss of money at the insured premises or in transit anywhere in Singapore, S$5,000 to S$50,000. | S$272.50 |
| EtiqaNot statedBOSS Standard Suite, S$368.99Buy Now | Not stated | The details we hold for this plan do not mention it. | S$368.99 |
| IncomeNot statedSmartBiz 360 Essential, S$450.00Buy Now | Not stated | The details we hold for this plan do not mention it. | S$450.00 |
All prices include 9% GST. A dash means no price on this page. Each insurer's policy wording is the final word on what is covered.
Allianz quotes its Smart SME package live from its own site, so it is not priced on this page: see it with your own answers on our business package page, or press Ask Shenton to arrange.
See every insurer's price for your own business, or ask us to arrange the cover.
Compare business package insuranceQuestions people ask
Does business package insurance cover cash and money in transit?
On many packages, for small sums. 5 of the 8 insurers we price include money in the premises or in transit, from S$1,000 to S$5,000 each where the sum is given; 1 sells it only as an option; 2 do not mention it in the details we hold. A business that handles more cash can ask for a higher sum.
Where do these answers come from?
From what we hold of each insurer's plans: the benefits in our rate tables and the insurers' own brochures and application forms, for 8 insurers. Where an insurer's details do not say, we say so. The policy wording is the final word on what is covered.
Which plan is cheapest?
For a cafe with 5 staff and S$100,000 of contents and stock, renting its premises, HL Assurance Business Protect360 is the cheapest plan from an insurer that covers it, at S$218.00 a year today, GST included.