Best practices for backing up the master, model, and msdb databases

The value of SQL Server system ( Master, Model, MSDB) database backups cannot be underestimated due to the significant amount of information residing in these databases. From an operational perspective, I recommend incorporating the system database backups on the same schedule as the user databases i.e. a daily basis. At a minimum backup the system databases each time a configuration is added, changed or removed relative to a database, login, job, operator, etc. One difference between the between the system and user databases is that only full database backups can be issued, not transaction log or differential. As such, the syntax would be:

USE Tempdb
GO
SELECT GETDATE()
GO 
SELECT @@SERVERNAME
GO
BACKUP DATABASE Master TO DISK = 
'D:Program FilesMicrosoft SQL ServerMSSQLBackupsMaster.bak' 
WITH INIT
GO
BACKUP DATABASE MSDB TO DISK = 
'D:Program FilesMicrosoft SQL ServerMSSQLBackupsMsdb.bak' 
WITH INIT
GO
BACKUP DATABASE Model TO DISK = 
'D:Program FilesMicrosoft SQL ServerMSSQLBackupsModel.bak' 
WITH INIT
GO
SELECT GETDATE()
GO

The backups should be saved locally on a redundant disk drive separate from the online databases and backed up to tape on a regular basis. Additionally, if space is available on a file server or secondary server participating in log shipping, it may be beneficial to copy the system database backups from the primary server to the secondary server.