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Risk Management and Safety is working on the 2016-2017 state property insurance renewal and the scheduled property insurance renewal.

The state property insurance should be utilized for buildings, structures, contents and equipment used to service and maintain a building and property usual to the occupancy of the building. Auburn University is required by legislation to maintain property insurance with the State of Alabama. Coverage is limited to property located in or on the described building or out in the open on or within 100 feet of the described premises. Special consideration should be given to major equipment valued at over $50,000 and property that travels off premises as there is only minimal coverage for these exposures. A separate deductible of $5,000 per occurrence per scheduled line item applies to each covered loss.

The scheduled property insurance should be utilized for equipment more than 100 feet from an Auburn University insured building that isn't automatically covered under the state property insurance and is designed to protect property while in transit, along with high-value mobile items with the exception of motor vehicles and airplanes. Consider covering any specialized high value equipment under this policy. These items would need to be scheduled through Risk Management and Insurance if coverage is desired. This policy is subject to a $1,000 deductible. The insurance would respond using the lowest of current fair market value/cost of replacing with identical equipment.

Email aurmi@auburn.edu with any questions or if there are buildings or equipment/property that need to be insured that aren't currently insured.