Special Property All Risk Agreement
The All Risk policy insures property items not covered by the State Owned Building and Personal Property Agreement. The following coverage is available: Transient State Property, Money & Securities, Fine Art, Hull, and Non-State Owned Property.
Transient State Property
Transient coverage is afforded to “off road type equipment” that is excluded from the vehicle policy (backhoe, golf cart, tractor, etc.). Transient coverage also applies to State owned property that is loaned to an authorized individual to perform State business (laptop, projector, etc.). An Authorization for Off-Campus Use of Equipment (excel) form must be on file with the Property Control Office prior to the equipment being removed from the premises. Insurance premiums are billed to departments having transient property with a purchase price of $3,000 or greater on their inventory reports (maintained by Property Control). $1,000 deductible applies.
Money & Securities
Coverage includes currency, coins and bank notes, tokens, tickets, stamps and fraudulent credit card charges. No deductible.
Coverage is for appraised values of works of art, antiques, or artifacts owned by the University or in the University’s care, custody, or control. Please contact the Controller’s Office for more information. $1,000 deductible applies.
Coverage for aircraft or watercraft owned by the University. Insurance premiums are billed to departments having water or aircraft with a purchase price of $3,000 or greater on their inventory reports (maintained by Property Control). $1,000 deductible applies. Losses due to mysterious disappearance will not be covered..
Non-Owned State Property
Non-owned state property in the University’s care, custody or control. $1,000 deductible applies.
Contact Risk Management Office for more information.
Last updated: 8/29/2016