What they do is protect the valve stem. That's the critter that holds on to your air in. Without it the valve might become damaged causing quick deflation(YOU GO FLAT KIDDO). On Schrader valve it's the center piece surrounded by rubber. On a Presta valve it's the second screw on the valve which comes sealed or removable but needs to be protected. If you want screwed up valves or keep replacing tubes daily go right ahead throw that little cover away.