What Is Covered
All property owned by the University is automatically insured for the following perils:
- Water (as long as the damage is sudden, accidental, and not from a flood)
- Transportation from one site to another
- Building collapse
as well as any other sudden or accidental damage except for those perils listed below in the What Is NOT Covered section.
Coverage is worldwide, meaning the property need not be on University grounds to be insured. Lost or damaged goods are replaced or repaired with property of like kind and quality.
Deductibles and Coverage Limits
The deductible (the amount you pay before insurance kicks in) is $1,000 for all perils with the following exceptions:
- Water Damage - $5000 per occurrence (or 10% of total loss when in excess of $50,000)
- Fire - $5,000 per occurrence
- Forced-Entry Theft - $1000 per occurrence
- Non-Forced Entry Theft - $5,000 per occurrence
The following perils are not covered:
- Damage caused by your own negligence (such as spilling coffee into your computer)
- Changes in temperature or humidity
- Electrical disturbances (i.e. power failure or surge)
- Unexplainable disappearances
- Losses caused by deferred maintenance (such as a leaking roof)
- Loss of data
Certain types of property have different insurance requirements and coverage.
- Intellectual property
- Fine art and rare books
- Personal property on campus
- Property in transit
Intellectual property, such as a professor's unpublished manuscript, is usually not insured. That's because it's usually impossible to place a monetary value on unpublished manuscripts, instructional materials, research notes, research materials, research data, and other such property.
Fine Art and Rare Books
Although precious artwork and rare books are covered under the University's property insurance program, the property insurance program doesn't cover every hazard (most water damage, for instance), so if a painting is doused by rain through an open window, your department is stuck for the cost of damage – unless you purchase special fine arts coverage.
Fine arts insurance (Permanent Collection and Domestic Exhibit) covers all perils except:
- wear and tear, gradual deterioration, moths, vermin, inherent vice, or loss or damage sustained due to or resulting from any repairing, restoration or retouching process
- nuclear hazard
- shipment by mail unless by registered first class or parcel post – provided such shipments not exceed $1,000 in value
- loss or damage to property shipped under "on deck" bills of lading.
To secure coverage for your permanent collection (or any part thereof) fill out a Permanent Collection Form. Changes to your collection should be reported promptly.
Coverage in the United States and Canada
Fine arts coverage extends to exhibits of artwork elsewhere. If you're exhibiting department artwork in the continental United States and Canada (including other parts of campus), insurance is available for 3 cents per hundred dollars insured per month. Transportation is covered provided it is professionally done; trained UC personnel are acceptable movers. The maximum insurable value is $7,500,000, although the maximum for artwork in transit is only $500,000 per shipment – Risk Services's way of encouraging you to move your eggs in several baskets. (If it's impossible to transport your exhibit in chunks worth less than $500,000, call us at 643-9318 two weeks prior to the shipping date.) The deductible is $500. To secure coverage for exhibits in the continental United States and Canada, fill out a Domestic Exhibit Form.
If you're exhibiting department artwork beyond the United States and Canada, notify Risk Services as soon as possible (643-9318). Insurance policies for overseas exhibits are written case-by-case and must be approved by Risk Services no fewer than 30 days before you want coverage to begin. The policy limit is $5,000,000.
Personal Property on Campus
The University insures only the property it owns or leases. UC insurance generally does not cover personal property that is on campus or is used for University business.
There are exceptions. The University will cover property loaned or rented from a non-University owner provided there is a written agreement signed by authorized personnel. Contact Equipment Management at 643-8233 or Procurement & Business Contracts at 642-3291 for more information.
It should be noted that on no occasion is the University responsible for the loss of private property due to criminal acts. Sorry, but if your backpack or laptop is stolen on campus, the University cannot compensate you.
A special property insurance program offered by the University covers boats. Whether your department is sponsoring a scientific expedition on the high seas or a recreational program for weekend kayakers, this program protects your department's vessels from loss due to everything from latent defects in the hull to collisions. Premiums, deductibles, and coverage limits depend on what kind of vessel you are insuring, where it sails, and how much it's worth. Call 643-9318 to learn more.
Property in Transit
Insurance for transporting new property is handled through the Procurement Office. To insure property you have owned for awhile, read on.
UNIVERSITY OWNED PROPERTY IS AUTOMATICALLY INSURED FOR TRANSIT AT NO COST TO YOUR DEPARTMENT. However, you will still need to report certain shipments to Risk Services.
Destinations in the Contiguous U.S. (not Alaska)
To insure shipments worth more than $100,000 with destinations in the contiguous U.S., complete a Prior Approval Form and submit it to the Risk Services Office, along with a copy of the Purchase Order, 15 working days before the shipment date. For items that do not have a purchase order, please contact us at 643-9318 for procedures.
Destinations Outside the Contiguous U.S.
If you are transporting University property to Alaska, Hawaii, U.S. territories (such as the Virgin Islands or Puerto Rico), or foreign countries, complete the Open Cargo Reporting Form and submit it to us 15 working days before the shipment date. If the shipment is worth more than $1,000,000, contact us immediately.
U.S. Postal Service Exclusions
The University will not insure property transported by the U.S. Postal Service to the continental United States (including Alaska) or Canada. Nor will it cover the transportation of fine arts under some circumstances.
Sometimes departments offer to pay the moving expenses of employees. Insurance for the transportation of household goods can be obtained through the Procurement Office. Call 642-3291 for more information.