Business Personal Property is covered under the Major Property policy. Additionally, qualifying assets can be scheduled under Inland Marine to reduce the deductible applied to covered losses. Dependent on loss circumstances, State Risk will determine the coverage to be applied with the intention of mitigating the financial loss to the insured.
Employee and student personal property are generally not covered depending on the facts of a loss. Risk Management recommends that employees limit personal property within their workspace with this in mind.
It is recommended for Student’s to confirm coverage under their parent’s Homeowners Insurance policy or purchase a rental policy while staying in Housing and Residence Life facilities. This not only will confirm or provide coverage for their belongings, but also provide protection for a student should they be held liable for damage to another’s property.