Question

Provides for the loss of money and securities outside the premises in the care, custody, and control of a messenger or armored car service resulting from theft, disappearance, or destruction. This is defined as-------------

Option 1: In-Transit Coverage
Option 2: Transit Robbery
Option 3: Money and Securities Coverage
Option 4: Off-Premises Loss Protection

Answer 1

The correct answer is Option 1: In-Transit Coverage. It refers to the insurance method that provides for the loss of money and securities outside the premises in the care, custody, and control of a messenger or armored car service resulting from theft, disappearance, or destruction.

Step-by-step explanation:

The correct answer is Option 1: In-Transit Coverage.

In-Transit Coverage refers to the insurance method that provides for the loss of money and securities outside the premises in the care, custody, and control of a messenger or armored car service resulting from theft, disappearance, or destruction.

For example, if a messenger carrying cash and securities in an armored car is robbed while on the way to deposit the money in a bank, the In-Transit Coverage insurance would reimburse the loss.