What Does Theft, Disappearance, And Destruction Policy (Form C) Mean?
A Theft, Disappearance, and Destruction Policy (Form C) is an insurance form that protects against the loss of assets, such as money and securities. Even if assets are well hidden or well protected, they can still be stolen, can disappear, or be destroyed. This type of insurance protects against that risk.
Insuranceopedia Explains Theft, Disappearance, And Destruction Policy (Form C)
A Theft, Disappearance, and Destruction Policy Form C can protect against losses on an insured person’s property and even at their bank. For example, if a bank is robbed, and a person’s assets are stolen from a lost box, this type of insurance could cover that loss.
This type of insurance coverage can be of tremendous help if large sums of cash are stolen. Without this coverage, a person could lose the stolen money, but with it, their loss can be reimbursed.