Valuable Papers and Records Coverage Form

PROPERTY NOT COVERED

Property That Cannot Be Replaced

There is no coverage on property that cannot be replaced with other property of similar kind and quality, unless that property is specifically listed and described on the declarations.

Samples for Sale, Property Held for Delivery

Coverage does not apply to samples for sale or property held for delivery after it is sold.

Property in Storage

Coverage does not apply to property stored at a location away from the premises listed on the declarations.

Contraband

The coverage form excludes contraband or any property in the course of illegal transportation or trade.

HAZARDS COVERED

Coverage applies to direct physical loss or damage, subject to specific exclusions.

HAZARDS NOT COVERED

Dishonest or Criminal Acts

There is no coverage for dishonest acts that the insured, the insured’s employees, or the insured’s authorized representatives commit. Coverage also does not apply to any other party that has an interest in the property, to its employees, or to anyone else entrusted with the property, whether they act alone or in collusion with others.

Errors or Omissions in Processing

Losses due to errors or omissions in processing or copying are excluded.

This exclusion has an exception. It does not apply to direct loss or damage that fire or explosion causes.

Governmental Authority

There is no coverage for loss or damage that results from any governmental authority seizing property, unless it does so to prevent the spread of fire. The fire must result from an insured peril or cause of loss.

War, Nuclear Perils

The same basic exclusions that apply to most insurance coverage forms and policies also apply to this coverage form.

Collapse

Coverage does not apply to loss or damage caused by or that results from collapse, except for direct loss or damage caused by the collapse of a building, or a part of a building, caused by the specified perils of fire, lightning, windstorm, hail, explosion, smoke, aircraft, vehicles, riot, civil commotion, vandalism, breakage of glass, falling objects, and weight of ice, snow, or sleet. Other covered specified perils include hidden decay, hidden insect or vermin damage, weight of rain that collects on a roof, weight of people or property, and using defective materials or methods.

Wear and Tear

Incidents that involve these causes of loss or perils are inevitable and are excluded.