Property Insurance

What is property insurance and what is covered?

Insurance for Laptops

Insurance for Artwork

How do I submit a claim?

 

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What is property insurance and what is covered?

• The University's catastrophe property insurance policy provides coverage for all University-owned property.
• Licensed motor vehicles and aircraft are separately insured (subject to policy limits).
• The policy covers property for "all risks" of direct physical loss or damage.
• It does automatically exclude certain types of property and specific perils such as mysterious disappearance and unexplained loss or inventory shortage.

Deductibles

These deductibles are the sole responsibility of the department(s) sustaining the loss.

• $10,000 deductible each occurrence of property damage
• $10,000 deductible each occurrence of theft

Taking Property Off Campus

• Departmental authorization must be obtained before any University property is taken off campus (see the property policy).
• Before taking or sending University property valued at more than $50,000 off campus the employee responsible for the property must notify Risk Management & Insurance (612-625-0062).

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Insurance for Laptops

Do you need to report a claim?

• Print and fill out the Property Loss Notice - Laptop Computer Program
• Fax it to Risk Management & Insurance at 612-625-7384
  or mail to:
  
  Risk Management & Insurance
  Room 208 WBOB
  1300 S. 2nd St.
  Minneapolis, MN 55454

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Insurance for Artwork

The University has separate insurance for fine arts on exhibit or in transit. The $1000 per occurrence deductible under this policy is the sole responsibility of the department sustaining the loss.

Do you need insurance for artwork?

• Call Risk Management & Insurance at 612-625-0062

Do you need to report a claim?

• Call Risk Management & Insurance at 612-625-0062

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How do I submit a claim?

Call Risk Management & Insurance at 612-625-0062.

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