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SCLS Delivery Services and Property Insurance Review

This review outlines the property insurance coverages provided by SCLS and the Local Government Property Insurance Fund (LGPIF), including coverage for valuable records. It also reminds SCLS member libraries to have adequate property insurance policies in place.

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SCLS Delivery Services and Property Insurance Review

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  1. SCLS Delivery Services and Property Insurance Review

  2. Property Insurance Coverages • Property of SCLS: SCLS carries property insurance through the Local Government Property Insurance Fund (LGPIF). • Property of Others: $10,000 maximum coverage (for property not considered Valuable Records). • Must be on premises • Must be no other insurance coverage

  3. Valuable Records • Valuable Records is defined as: inscribed, printed or written documents; manuscripts or records, including abstracts, books, deeds, drawings, films, maps, and mortgages. “Valuable Records” does not mean your accounts receivables, “money” or “securities”.

  4. Valuable Records Insurance Coverage • The SCLS property insurance policy has additional coverage for “Valuable Records”. • What is covered: Valuable Records that are SCLS property or property of others in SCLS care, custody, or control. Once the deductible has been met, there is no dollar limit on this coverage. SCLS records and property of others in SCLS care, custody, or control are “covered” both on and off SCLS premises.

  5. Additional Coverages • The “Fund” will also pay for: • a. Expenses necessary to research and recreate lost “valuable records”; and • b. Expenses necessary for transcribing or copying lost “valuable records” from available secondary sources.

  6. Member Property Insurance Reminders • The value of materials carried in each vehicle varies by truck and may contain materials that are not considered Valuable Records and may exceed $10,000 in value. • Therefore, this is a reminder that all SCLS member libraries should have established property insurance policies with a contents limit high enough to cover the value of their own materials and property.

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