Sergey, I second Jim Booth's suggestions.

Since you appear to be a governmental entity (?), you might look to the source of your retention requirement (Provincial Archives?) for estimates of the value of your records (you mention they are permanent, which suggests a somewhat higher value).

I can tell you that restoration of water-damaged records in the Eastern US runs USD 350-500, depending on the amount of restoration required. That cost includes transport, short-term low-temperature storage, freeze-drying, decontamination by irradiation, and some cleaning/deodorising. (Thanks soooo much, Super Storm Sandy!)

If your records include confidential information, there is an additional type of insurance you may want to consider. That is the cost of remediation measures if the confidential information is accidentally released. In the US, such remediation measures can easily reach USD 15 per person to be notified, so this cost can escalate rapidly.

Best regards,

Fred

---------------------------------
Frederic J. Grevin
[log in to unmask]
212-312-3903
Vice-President, Records Management
New York City Economic Development Corporation

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