what is and isn t covered
valuable papers policies are used for businesses that rely on highly sensitive documents such as medical records contracts accounting data or blueprints since these documents may be essential to a company s business operations a valuable papers policy can offset the losses if they are damaged or lost most insurance policies for valuable papers specifically exclude documents stored electronically even though many businesses keep a wealth of important records in electronic form few property policies provide coverage for damage to electronic data however businesses can protect this information with coverage specifically for electronic documents money and securities are also excluded mitigating the risk of lossmost policies will state the conditions of coverage for valuable papers for example an insurance company might require a company to store their essential records in a safe behind locked doors or beneath a chemical extinguishing system if a company manager forgets to store papers safely the accidental destruction of those papers may not be covered by their insurance policy insurers may also require important information to be regularly backed up and archived creating duplicates of the most essential records if records are backed up electronically they must be stored with the same care and precision as paper records 