Theft, Disappearance, And Destruction Policy (Form C)

What Does Theft, Disappearance, And Destruction Policy (Form C) Mean?

A Theft, Disappearance, and Destruction Policy (Form C) is an insurance policy that covers the loss of assets, such as money and securities. Even if assets are securely hidden or well protected, they may still be stolen, disappear, or be destroyed. This type of insurance safeguards against those risks.

Insuranceopedia Explains Theft, Disappearance, And Destruction Policy (Form C)

A Theft, Disappearance, and Destruction Policy Form C can protect against losses both on an insured person’s property and at their bank. For instance, if a bank is robbed and a person’s assets are stolen from a safe deposit box, this insurance could cover the loss.

This type of coverage is especially valuable if large sums of cash are stolen. Without it, the person could lose the stolen money, but with it, they can be reimbursed for their loss.