Property Insurance

In general, property owned by the University is automatically insured at no charge under the University's Property Insurance Program. Coverage is worldwide; property need not be on University grounds to be insured. Lost or damaged goods that are covered under the Program are replaced or repaired with property of like kind and quality.

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

  1. $5,000 per occurrence for water damage (90% of claim funded for losses in excess of $50,000).
  2. $5,000 per occurrence for fire.
  3. $1,000 per occurrence for forced-entry theft.
  4. $5,000 per occurrence for non-forced entry theft.
  5. $250 for losses occurring during transit. If the carrier pays all or a portion of the claim, the self-insurance program will pay the remaining amount of claim with no deductible applied.

The University insures only the property it owns or leases. There are exceptions. The University will cover property loaned or rented from a non-University owner provided there is a written agreement signed by authorized personnel. On no occasion is the University responsible for the loss of private property due to criminal acts.

To insure property in transit that the university already owns, the following rules apply:

  1. Domestic Shipments <$100,000: Coverage is automatic under the Property Self-Insurance Program (BUS-81).
  2. Domestic Shipments >$100,000 and Foreign Shipments: University shipments outside continental United States (Alaska, Hawaii, U.S. territories and foreign countries) – contact Risk Services in advance of shipment for insurance guidance riskservices@ucmerced.edu​

Reference: Property Self Insurance Program Policy BUS-81.

How to Report Property Damage or Loss