In general, property owned by the University is automatically insured at no charge under the University's Property Insurance Program (see Quick Tips: Property Insurance for property that is excluded from coverage) for the following perils:

• theft
• vandalism
• fire
• water (if the damage is sudden, accidental, and not from a flood)
• explosions
• lightning
• windstorms
• hail
• transportation from one site to another
• building collapse
• other sudden or accidental damage

Some perils that are excluded from coverage include:

• your own negligence (such as spilling coffee into your computer)
• earthquake
• flood
• changes in temperature or humidity
• electrical disturbances (i.e. power failure or surge)
• mysterious disappearances
• losses caused by deferred maintenance (such as a leaking roof)
• loss of data

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 deductible for theft under the Property Self-Insurance Program (Quick Tips: Property Insurance) is $1,000 for a forced-entry theft and $5,000 for a non-forced entry. Under the Property Theft "Buy-down" Self-Insurance Program (Business & Finance Bulletin, BUS-28B), the University will reduce the deductible for forced-entry theft to $250 and for non-forced-entry theft to $1,000 for 40 cents per $100 of insured value (see Quick Tips: Property "Theft Buy-down" Insurance for a detailed description). This program is designed to insure property that, because of its value and the ease with which it can be stolen, is more susceptible to theft, such as laptop computers, cameras, etc. Use the Buy-Down Property Schedule Adjustment Form if you want to add to or delete equipment from your department schedule. If your department is not yet enrolled in the program but would like to be, call UCSB Risk Management at 893-2860.

The deductible for theft under the Property Self-Insurance Program (Quick Tips: Property Insurance) is $1,000 for a forced-entry theft and $5,000 for a non-forced entry. Under the 5-Point Security Program, the University will waive the deductible for forced-entry theft and for non-forced-entry theft (see Quick Tips: 5-Point Security Program for detailed description of this Program). Use the Application for the 5-Point Security Program if you want to enroll your department in this Program. Complete the form and submit it to the Police Department. The Police Department will do an inspection and confirm that the department has satisfied the Program criteria for eligibility and can be enrolled in the 5-Point Security Program.

If University property has been stolen or damaged, call the UCSB Police Department and UCSB Risk Management within 24 hours.

Within three days complete and submit a UC Property Loss Report to UCSB Risk Management. Describe the cause of loss and provide a detailed description of the lost or damaged property (age, components, attributes, & capabilities). A complete and accurate description of what, when, where, and how the property was stolen or damaged will assist us in determining whether the loss is covered under the insurance program. If a loss is covered UCSB Risk Management must receive and review the following materials within 60 days of the date of loss prior to submitting the claim for reimbursement to Office of the President:

1. The original PO, contract, or invoice under which the property was purchased (to provide proof of ownership, a description, and the original cost).
2. The PO, contract, invoice, repair bill, etc. for the repaired or replacement property (with itemized breakdown of costs, complete and accurate description of work performed, and, in the case of replacement, sufficient detail about the replacement property to establish it is "like for like").
3. Evidence of enrollment in the "Theft Buy-down" Insurance Program or 5-Point Security Program.
4. Photos to illustrate exact nature of loss or damage.
5. Police Report, Fire Report, EH&S report, any department reports. (UCSB Risk Management will obtain the Police Report if informed one was made).
6. A written report or memo from a qualified 3rd party with estimate of cost to repair and the reasons repair is not practical if department wishes to replace property instead of repairing it.
7. The UC Property Loss Summary of Costs summarizing costs for purchases, services, and materials (list and describe all purchases, services, and materials; indicate whether property repaired or replaced; indicate original cost and repair or replacement cost; indicate total amount of claim for reimbursement.
8. If loss involves multiple items, "bundle" related documentation together and label in such a manner as to easily identify the item it is associated with.

Depending on the circumstances, other documentation may also be required. A request for reimbursement, minus the applicable deductible, will be made to the Office of the President after all relevant documentation has been submitted and reviewed. OP will fund the designated department account number.

The Property Insurance Program has established deadlines for submitting a claim. These deadlines assure timely inquiry into and assessment of the claim; whether it is covered under the Program; accurate documentation of loss; interviewing of witnesses while memories are fresh; determining if subrogation can be undertaken against third parties; development of corrective measures to prevent or mitigate further loss.

1. Claimants must give notice within twenty-four (24) hours of a loss to the campus police and the Risk Management office.

2. Claimants must submit a report of property loss or damage (UC Property Loss Report) within three (3) working days to the Risk Management office.

3. If the loss or damage is eligible for funding, campus Risk Management must forward the report and all required documentation to OP Risk Management within sixty (60) days.

4. In no event will any loss be funded if reported later than twelve (12) months from the date of occurrence.

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. See Bus-39, Loss of or Damage to Property of Individuals.

Insurance for transporting new property is handled through the UCSB Purchasing Office. To insure property that the university already owns, the following rules apply:

1. Domestic Shipments <$100,000: Coverage is automatic under the Property Self-Insurance Program (BUS-28A).

2. Domestic Shipments >$100,000 & Employee Household Goods: All-risk coverage for shipment of goods via any common (commercial) transit carrier within continental US and Canada. Advance written approval of campus Risk Management and Office of the President required. Complete and submit Application for Domestic Transit Insurance to campus Risk Management in advance of shipment.

3. Foreign Shipments: University shipments outside continental United States (Alaska, Hawaii, U.S. territories and foreign countries) can be covered on a commercial marine open cargo policy (coverage is limited to scientific equipment and supplies, medical goods, automobiles and trucks, and household goods/personal effects. Coverage on all-risk basis, subject to customary all-risk exclusions. Advance written approval of campus Risk Management required. Complete and submit Application for Foreign Transit Insurance.

The University Property Insurance Program does not cover fine arts covered under the Fine Arts Insurance Program (see Quick Tips: Fine Arts Insurance). If the shipment is worth more than $1 million, contact us immediately.

The Fine Arts Insurance Policy covers fine arts for all risks of physical loss or damage including earthquake and flood, subject to the policy exclusions (see Quick Tips: Fine Arts Insurance). Coverage under the Fine Arts Policy is optional. A department that wants to cover their fine arts under the fine arts insurance policy must pay a premium. The University's Property Insurance Program also covers valuable artwork and rare books but there are more exclusions.

A department may secure coverage for its Permanent Collections under this policy. To secure coverage for your permanent collection (or any part thereof) fill out a Permanent Collection Schedule Change Form and submit it to campus Risk Management at least ten (10) days prior to the date coverage is required. Changes to your collection should be reported promptly.

A department may also secure coverage for exhibits of department artwork at off-campus locations in the United States or Canada. Coverage is in effect during transit. To secure coverage for exhibits in the continental United States and Canada, fill out an Application for Fine Arts Insurance for Exhibits and submit it to campus Risk Management at least ten (10) days prior to the date coverage is required.

Coverage can also be purchased for exhibits that the department wants to bring to campus. To secure coverage, fill out an Application for Fine Arts Insurance for Exhibits and submit it to campus Risk Management at least ten (10) days prior to the date coverage is required.

If you're exhibiting department artwork beyond the United states and Canada, insurance policies for overseas exhibits are written on a case-by-case basis and must be approved by campus Risk Management no fewer than 30 days before you want coverage to begin. Call us at 893-2860 for additional information.

Physical damage insurance that covers hull damage or loss to boats, trailers, and engines is covered under a commercial Marine Insurance Policy purchased by the University. This coverage is optional but recommended. This program covers damage to department vessels, trailers, and engines. To cover equipment under this program, complete a Yacht Schedule Change Form and submit it to campus Risk Management. We will either start a new yacht schedule for your department or enter the new piece of equipment onto your department's existing yacht schedule. Premiums and deductibles depend on what you are insuring. The University's Self-Insurance General Liability Program (BUS-75) covers non-powered vessels of any length and powered vessels less than 30' (small watercraft). This coverage is required. All departments that own vessels must report them to Risk Management. Complete a Yacht Schedule Change Form and submit it to campus Risk Management. submit a yacht schedule changes form to add vessels to your department's yacht schedule. We will either start a new yacht schedule for your department or enter the new piece of equipment onto your department's existing yacht schedule. This program protects your department from loss if one of your vessels causes damage or injury to a third party. Currently departments do not pay a premium for liability insurance on small watercraft.

See Quick Tips: Marine Insurance for more detailed information.