Special Property/All Risk Insurance

The Special Property/All Risk policy insures property items not covered by the State Owned Building and Content Property Agreement. The coverage parts are: Money & Securities and Inland Marine.  Inland Marine covered property includes Fine Art, Hull, Non-State Owned Property, and Transient State Property. UGA is billed a monthly premium for Special Property/All Risk coverage.Transient Equipment and Non-Owned State Property are insured for $.15 cents per $100 value and Fine Art is $.25 cents per $100 value. Hull (watercraft) is insured for $1.50 per $100 value. Money and Secuities are insured for $75 per $5,000 coverage limit. The deductible on all Special Property/All Risk claims is $500 per occurrence unless otherwise stated. The minimum premium for Special Property/All Risk coverage is $250. The mysterious disappearance of an item is not a covered cause of loss.

Notice & Proof of Loss:  We are required to provide a written notice of loss within 60 days after the loss is discovered and a written proof of loss with full details of the loss within 120 days after the loss was discovered.  If full details of the loss are not known within 120 days, we may request an extension of time in which to file a proof of loss.  Such request must be made in writing to DOAS by our office and must be agreed to by DOAS.  Failure to comply with these policy conditions are grounds for denial.

Money & Securities Coverage
This coverage includes cash, fraudulent credit card usage or valuables of certified clients, patients or students when the items are in the written documented care, custody or control of UGA.

Inland Marine Coverage
If you have elected an Inland Marine Coverage under an All Risk Certificate, DOAS will pay for loss of Covered Property resulting in direct physical loss or damage to Covered Property of which you have record of, up to the amount or limit shown on your All Risk Certificate except as otherwise excluded or limited.

Covered Property, as used under Inland Marine Coverage means: "Fine Art"; "Aircraft Hull"; "Watercraft Hull"; "Non-State Owned Property"; "Transient State Property"; and "Specialty Property", DOAs and the Excess Insurance Company now require the following information when Fine Art, Non-State Owned Property and/or Transient State Property coverage is requested: detailed schedule of each item, description, replacement cost value, date acquired, original cost new, and location of item (physical address).

Fine Art
Coverage is for appraised values of works of art, antiques, or artifacts owned by the University or in the University’s care, custody, or control. A written care custody or control agreement must exist for substantiating a claim.

Hull
Coverage for aircraft or watercraft owned by UGA.

Non-State Owned Property
Non-state owned property in a department's care, custody or control for which the University must assume responsibility for loss or damage can be insured under the All Risk policy.

Non-State Owned Property – Contract Leased

For those UGA Departments who have or will enter into a contract with IBM/Dell/AT&T where during the term of the contract, the vendors will provide servers, computers and /or peripheral equipment, the insurance section of the contract spells out that the UGA Department will be responsible for the first $5,000 in losses to the leased equipment.

Each UGA Department can either elect to self insure for this $5,000 in leased equipment losses or request “non-state owned property” coverage under an All Risk Certificate, subject to the provisions contained in the "Special Property All Risk Agreement".  The cost to add this coverage for the leased equipment is $.15 per $100 value, subject to a $500 deductible per loss.

Transient
Transient coverage applies to State owned property that is loaned to an authorized individual to perform authorized State business. An authorization for off campus use form must be on file with the Property Control Office prior to the equipment being removed from the building or the campus. Transient coverage also includes "off road type equipment" that is excluded from the vehicle policy (i.e., backhoe, golf cart, tractor, etc.)

All property losses or damage to items insured under the All Risk policy must be reported to the University of Georgia Police immediately. If your department is not located on the main UGA campus, please contact your local police department. Report all claims to the Risk Management Office within 48 hours of the incident via email. All Risk claims are processed by Judy Baxter. Judy Baxter's email address is jbaxter@uga.edu and Judy's phone number is 706-425-3083.