Leased Space Contents
Is your unit housed in leased space? Have you contacted the Office of Risk Management about insuring your contents in leased space? If not, does your unit have funds available to replace damaged contents in the event of a fire, tornado, vandalism, or other loss?
Risk Management procures and administers two main insurance programs to insure contents:
- The property insurance program covers such things as damage due to vandalism, fire, flood, wind, and so on. All system-owned buildings and contents are insured through this program and are subject to the policy deductible of $500,000 per occurrence. The value of contents, especially in leased space, is typically below the policy deductible amount, so units are given the option of buying down the deductible to $25,000 per occurrence.
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