Deductibles

Coverage under insurance programs and policies for owned property is generally subject to deductibles. These deductibles can change. Current deductibles are as follows:

Automobiles

• $500 per occurrence for physical damage to vehicles
• $0 per rental vehicle when vehicles rented under a system-wide contract

Property     

• $5,000 per occurrence for water damage (or 10% if damages exceed $50,000)
• $5,000 per occurrence for fire
• $1,000 per occurrence for forced-entry theft
• $5,000 per occurrence for non-forced entry theft
• $1,000 per occurrence for university property in transit
• $1,000 per occurrence for most other covered losses

Boats    

• 1% of insured value subject to $250 minimum
• Subject to department request for coverage under the vessel schedule prior to loss

Fine Arts    

• $1,000 per occurrence except earthquakes and outdoor sculpture
• $10,000 per occurrence for earthquakes and outdoor sculpture (each and every loss)
• Subject to department request for coverage on permanent collections schedule prior to loss
• Deductible does not apply to items on loan to the University

Links

OPRS Insurance FAQ's