Posted in Finance, Accounting and Economics Terms, Total Reads: 225
Definition: Valuable Papers Insurance
Valuable papers insurance is a kind of insurance which give protection to the important papers of corporates, small businesses, businessmen and wealthy people. These papers can be wills, share certificates, company charters or any important papers.
Due to reasons, if these papers are lost it takes lot of money, time and effort to reproduce these documents. So valuable papers insurance gives protection for the loss of these documents.
For example, suppose company ABC has got burned down and important documents like share certificates, original copies of company’s charter, documents related to personnel and the court case company was involved in are lost. Now it takes thousands of money and time reproduce these documents. So if ABC has valuable papers insurance it files the claim and get compensated for the loss of these papers.