University Risk Management

Computer Insurance

UORM administers a Computer Insurance Plan that can cover computers and other electronic equipment.  This coverage is not automatic.  A University unit needs to contact UORM if they want to participate in the Plan.

Description of Computer Self-Insurance Plan

  • University Administration has approved this method of self-insuring University-owned computers.  This works much like traditional insurance that covers fire, theft, vandalism, wind, water, etc.  The coverage does not apply to loss caused by normal wear and tear, or mechanical breakdown, however it would cover a computer that is accidentally dropped. 
  • A $500 per occurrence deductible applies. 
  • The premium that is charged is based upon the value of the computer(s) or other electronic equipment being insured.  The rate for FY08 is $1.00 per $100 of values -- so that a $2000 computer would cost $20.00 annually, or a $20,000 computer would cost $200.  For FY08 the rate is the same for portable or stationary equipment.  In addition, we can provide “trip” coverage for equipment.  This is generally intended for short-term trips, and will provide coverage anywhere in the world.  The minimum cost for “trip” coverage is $30. 
  • Our office places the premium in an account that we use for paying claims. 
  • Our intent is to either repair or replace your computer with one of like, kind, and quality limited only by the value you place on your computer.  If you only value your computer for $3000 and it costs $4000 to replace it, we will only pay $3000 less the deductible.  If you had insured it for $4000, we would pay $4000 less the deductible. 
  • Submit a schedule of items to be insured.  This includes the following information:
    • itemized list of equipment to be insured (including make, model, serial number, value)
    • location (room number and building name)
    • destination (if trip insurance requested)
    • length of visit (if trip insurance requested)
  • You will also need to provide the university account number you want charged for the premium.  A journal voucher will be processed through the Banner system.

Equipment/Computer Coverage Request

Please use the Insurance Request for Equipment, Computers, or other Electronics Form (MS Word) to request coverage.

Who To Contact

For questions about computer insurance, contact:

 

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Last Updated: December 20, 2011