If you are sending money through the mail, then it can be insured. The limits of ensuring money (currency /cash) are as given:
- The maximum Compensation for negotiable items, bullion, or currency except for Registered Mail is $15.
- Items that can be easily converted to cash without resort to forgery are considered as Negotiable items.
- Cash can be insured up to $50,000 for Registered mail. If the amount is over $50,000 then still the maximum insured value is $50,000, but the value of the item must be disclosed.
Money is replaced by the insured value as mentioned above when the claim is filed.
- Only the actual value of any item will be paid if the actual value is less than the insured amount after verifying the proof of value.
- Confirm with your local post office that what is considered as proof of value while sending a notable amount of cash but verify it before mailing.
- Also, verify with the local post office that is the item packaged secure enough from being harmed during regular mail processing.
- Checks aren’t considered as cash.
- Checks can’t be insured other than for document reconstruction expense.