Computer and Special Equipment Insurance
Risk Management administers a self-insurance plan that can cover computers, electronics, and other specialized equipment. This plan works much like traditional insurance that covers damage and loss from perils such as fire, theft, vandalism, wind, water, accidental breakage, and so forth. However, this coverage does not apply to loss caused by normal wear and tear or mechanical breakdown.
This coverage is not automatic. University units must contact Risk Management in order to participate in this plan.
Computer Insurance
Our computer insurance plan covers system-owned, -leased, or borrowed equipment (if required by written agreement) such as laptops, tablets, monitors, projectors, camcorders, and copiers. In addition, we can provide travel coverage for equipment. This is generally intended for short-term trips and will provide coverage anywhere in the world.
Coverage is intended to either repair or replace your computer with one of a like kind and quality, limited only by the value you assigned. For example, if you value your computer for $1,000 and it costs $2,000 to replace it, we will only pay $1,000 less the deductible. If you had insured it for $2,000, we would pay $2,000 less the deductible.
Costs for computer insurance are as follows:
- The premium charged is based upon the value of the computers(s) or other electronic equipment being insured. The annual cost is based on a rate of $1 per $100 in value.
- Any single item valued $100,000 or more is charged a Specialized Equipment rate of $1.75.
- A $500 per occurrence deductible applies.
Please use the Insurance Request for Equipment Computers or Electronics (MS Word) to request coverage.
Electronic or Other Special Equipment Insurance
This plan covers system-owned, -leased or borrowed equipment (if required by written agreement) such as job trailers, golf carts, scientific equipment, and miscellaneous equipment.
Coverage is intended to either repair or replace your equipment with one of a like kind and quality, limited only by the value you assigned. If you value your equipment for $3,000 and it costs $4,000 to replace it, we will only pay $3,000 less the deductible. If you had insured it for $4,000, we would pay $4,000 less the deductible.
Costs for electronic and special equipment is as follows:
- The premium charged is based upon the value of the equipment being insured. The annual cost for insurance is based on a rate of $1.75 per $100 in value.
- A minimum $500 per-occurrence deductible applies. The deductible amount varies based on the insured equipment’s value.
Please use the Insurance Request for Equipment Computers or Electronics (MS Word) to request coverage.
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