Check Cashing & Money Services Insurance Coverage Checklist
The coverages a check cashing & money services business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for check cashers and money services businesses. Priorities reflect typical exposure; confirm against cash levels and services.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Crime / Financial Institution Bond | Covers robbery, employee theft, and forged or counterfeit items. | Core | |
| Money & Securities (Incl. In Transit) | Covers cash on premises and on the way to the bank. | Core | |
| License & Permit Surety Bonds | Required by most states for money transmitters and check cashers. | Core | |
| Commercial Property | Covers the location, safes, and equipment. | Core | |
| General Liability | Covers customer injuries, including during robberies. | Core | |
| Cyber Liability | Covers customer data and payment systems. | Prevalent | |
| Workers' Compensation | Covers tellers, including robbery-related injuries. | Core |
The coverage gap most often missed
The most commonly missed gap for this class is cash limits that don't match reality. Crime policies cap coverage for cash on premises and in transit, while daily cash often rises on paydays and holidays. Businesses should set limits for peak cash, use armored deposits, and keep FinCEN registration and AML programs current — fines themselves are generally not insurable.
Send us the checklist and we'll review your check cashing & money services coverage line by line, then market it across multiple carriers that compete for your account.
Related: Check Cashing & Money Services Insurance · Check Cashing & Money Services Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a check cashing & money services business need?
The core coverages for a check cashing & money services business are Crime / Financial Institution Bond, Money & Securities (Incl. In Transit), License & Permit Surety Bonds, Commercial Property, General Liability, Workers' Compensation. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my check cashing & money services coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.