Property Insurance

Property owned by the university is automatically insured.

The University’s Property “program was designed to provide coverage for risks of physical loss or damage to real and personal property owned by the University; in which the University has an insurable interest; in the care, custody or control of the University; for which the University has received instructions or agreed to insure under written contract prior to a loss; or for which the University is legally liable.” BFB-BUS-81: Insurance Programs

Typical perils include: theft, vandalism, fire, water, explosions, lightning, windstorms, hail, transportation from one site to another, building collapse, other sudden or accidental damage. Some perils that are excluded from coverage include: earthquake, changes in temperature or humidity, wear/tear/deterioration, mysterious disappearances, delay/loss of use, war/terrorism

The deductible is $1,000 for all perils with the following exceptions:

  • $5,000 per occurrence for water damage (or 10% of total loss when in excess of $50,000)
  • $5,000 per occurrence for fire
  • $1,000 per occurrence for forced-entry theft
  • $5,000 per occurrence for non-forced entry theft.

If you have a loss, report it immediately to Risk Management via the Property Loss Report (PDF). Additionally, photograph and secure the loss or damage and in the case of theft notify Campus Police. 

Property Insurance FAQ

  • Is private personal property covered by University Property self-insurance?
  • Personal property brought to work such as radios, cd players, etc. are not covered by the university property program. Equipment, such as computers, that an employee brings to use at work for the benefit of the university can only be covered under the university property insurance program if they are placed on an official loan to the department by processing an Equipment Loan Agreement. This then places the equipment in the care, custody and control of the university and insures the property. 
  • How do you insure UC property while in transit?
  • Domestic shipments < $100,000: Coverage is automatic under the Property Self-Insurance Program

    Domestic Shipments > $100,000 & Employee Household Goods: All-risk coverage for shipment of goods via any common (commercial) transit carrier within continental US and Canada. To secure coverage, in advance of shipment notify Risk Management via 

    Foreign shipments: University shipments outside continental United States (Alaska, Hawaii, U.S. territories and foreign countries) are covered under a commercial marine open cargo policy (coverage is limited to scientific equipment and supplies, medical goods, automobiles and trucks, and household goods/personal effects). Coverage is provided on all-risk basis, subject to customary all-risk exclusions. To secure coverage, in advance of shipment notify Risk Management via