Common use of Media Clause in Contracts

Media. Coverage is provided for the depreciated cost of “media” being materials on which “data” is recorded including magnetic tapes, discs, disc packs, portable memory devices, paper tapes and cards. Coverage under this Additional Agreement is limited to “media” on the insured “premises” and the direct physical loss or damage must be caused by an insured peril. Coverage doesn’t apply to “media” that cannot be replaced with other “media” of like kind and quality.