(University-Owned buildings, equipment, and other contents)
The University’s Manager of Asset Accounting must be notified prior to taking University-owned property/equipment off campus. In addition, faculty and staff are advised to contact Risk Management to determine whether the items are insured or if purchase of additional insurance coverage is necessary.
Note: New Equipment Purchases and Gifts -- If you acquire new equipment valued at more than $5000. Please notify the Asset Accounting Office (telephone: x84550), so that proper insurance coverage can be obtained.
- University-owned buildings are insured against loss due to fire, including water and smoke damage, weather-related damage (i.e., wind, lightning, hail, etc.), explosion, damage from vehicle or aircraft accidents, acts of vandalism, malicious mischief, forcible-entry and theft. Coverage is based on replacement cost.
- General -- All University equipment is insured against the same types of loss as those for buildings. Coverage is based on replacement cost.
- Transportation Equipment -- University-owned vehicles and watercraft are insured against physical damage. There are collision and comprehensive deductibles assumed by the University and/or Departments.
- University Equipment damaged while being moved both on- and off-campus is insured for replacement cost, with a $10,000,000 maximum applying only to an off-campus move. If you are transporting equipment in your car, the University coverage still applies.
- Other Building Contents
- Furniture, fixtures and other University property contained in University buildings are insured against the same types of loss as those for buildings. Coverage is based on replacement cost.
- Valuable Papers are covered for all risks including fire, windstorm, hail, aircraft damage, vehicular damage, explosion, smoke damage, water damage, collapse, vandalism and malicious mischief, forcible entry and theft.
- Fine Arts, including rare books, are insured against the same types of loss as those for buildings. Recovery is based on recognized industry sources' valuations of these items.
- Property of others in the care, custody or control of the University is insured against the same types of loss as those for buildings. Coverage is based on replacement cost, with a $10,000,000 maximum.