Report losses greater than $25,000 to us via email immediately.
For losses of $25,000 or less
- Completely document extent of loss
- Report loss within 30 days and protect property from further loss
- Report theft to appropriate local law enforcement agency
- Identify University-owned equipment as belonging to the University when filing police report
- Fill out the claim form above.
Claim Processing Information
Processing time is approximately 30 days from receipt of claim. Claims submitted without all required information and/or documentation will be closed without payment after 90 days.
Departments are expected to take all reasonable steps to protect insured equipment against loss or damage. Equipment Insurance may request the department provide details regarding security measures in place. If it is determined a lack of reasonable security contributed to the loss, the claim may be denied and/or the department may be refused further coverage.
Please note equipment is NOT INSURED for unexplained disappearance or shortage found on inventory.
Settlement amount is whichever is less at the time of loss minus applicable deductible*:
- Insured value
- Cost to repair or restore property to previous condition
- Replacement with identical or substantially identical property as determined by vendor or other independent source
Settlements are transferred via Journal Voucher to the claiming department. The budget being credited does not need to be the same as the budget used to insure the equipment.
*If multiple items are involved in a claim and insured under more than one deductible level, the highest deductible will apply.
Property recovered after a claim is paid is the property of Equipment Insurance. You must notify us if the property is returned to you. At your option, you may retain ownership of recovered property by returning the settlement amount minus any expense to repair the property to pre-claim condition.