This coverage is provided by two different insurance providers. On the main property policy, the deductible for campus builidnigs is $50,000.00 per occurrence. In general terms, the coverage is:
- Replacement value of property (buildings and contents) owned by the University;
- Insured againt all risks of direct physical loss or damage, including fire, and other extended perils.
Note: There are different property policies and types of coverage for the University owned houses, boiler and machinery, fine cart and rare books.
- Licensed vehicles (See Automobile and Non-owned Automobile Insurance Polices);
- Watercraft (see separate policy)
- New buildings under construction (including materials & supplies)
- Currency, money, notes, securities, etc. (See Crime Policy)
- Personal property of students or staff
- Biological materials, including animals involved in research experiments
- Land, including water, standing timber or growing crops.
- Loss resulting from dishonesty or infidelity of occiers and employees or persons to whom insured property is loaned, rented or entrusted
- Mysterious disappearance or unexplained loss
- Loss or damage from dampness or dryness of atmosphere, heating, evaporation, rust or corrosion, contamination etc.
- Loss or damage from normal settling, expansion, contraction, moving, shifting or cracking in foundations, wall, floors or ceilings etc
- Mechanical or electrical breakdown, latent defect, faulty material, contstruction, workmanship or design, wear and tear, etc.
- Nuclear reaction, ratiation or radioactive contamination
- Other standard inclusions such as war