Property Insurance Coverage Claims Procedures
Grand Valley State University maintains property insurance to protect against the perils of fire, windstorm, flood, explosion, vandalism and various other exposures. Coverage is provided for loss or damage to university-owned property, excluding vehicles.
Among the notable exclusions:
All claim requests for payment for University property or equipment, damaged or stolen, are handled by Risk Management. At the University's option, we may:
The deductible assessed to a department for each and every property loss is $1,000. For losses due to theft, the deductible is $3,000 for each and every occurrence. The purpose of the deductible is not to penalize departments, but to promote and encourage a sense of security in the safeguarding of property and equipment. For example, small items such as calculators, laptop computers, dictation equipment, etc., should be placed in locked drawers or cabinets during non-working hours or any time the work area is left unattended.
All cases of fire, theft, damage or vandalism must be reported to the Department of Public Safety Services as well as Risk Management. A written claim report of the circumstances of the loss, date of loss, location and complete description of the missing or damaged items must be submitted to Risk Management along with the associated Police Reports (Campus Police, other agencies as may apply).
The department impacted by the loss should report the loss within a reasonable period of time, typically 48 hours or within the guidelines of the current property insurance carrier. Delay in reporting a loss may result in denial of coverage. Upon approval of the claim all paid bills for repair/replacement work should be submitted to Risk Management for reimbursement less the appropriate deductible.
Request for Reimbursement