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Property Insurance

The following information contained is a general summary. Actual coverage is determined by the policy language. Please call Corporate Risk Management for more specific information.

All claims need to be reported to Corporate Risk Management. Failure to report claims in a timely manner may result in forfeiture of any insurance recovery that might be available.

University owned property and equipment is insured for direct physical damage resulting from sudden and accidental occurrences such as damage by fire, explosion, windstorm, theft, hail, riot, smoke, vandalism, and flood.

Leased property may be insured under the policy if required by the lease agreement.

Vehicles, watercraft, and aircraft are covered under their own policies.

What Is Covered

Sudden and accidental damage such as by fire, explosion, windstorm, theft, hail, riot, smoke, vandalism, and flood.

What Is Not Covered

Personal property of students, employees, patients, visitors, or other third parties is NOT insured under this policy.

Examples of losses not covered include but are not limited to: damage to property resulting from wear and tear, lack of maintenance, faulty workmanship or mysterious disappearance.

Ocean Marine Transit:
Duke property is not insured during ocean transit. If property coverage coverage is neccessary for items shipped overseas, please contact Corporate Risk Management to arrange for this coverage.

Claim Settlement

Deductibles
 A $5,000 deductible applies per occurrence. The affected department is responsible for the deductible.

Valuation of Property

If an item is damaged or destroyed, the claim settlement may be valued under either of two options:

  • The item can be replaced with a similar item of like kind and quality.
  • A cash settlement can be received. If the cash settlement option is selected, the settlement will be valued at the depreciated cash value of the damaged item.

Final Settlement of Funds

Copies of all paid invoices should be forwarded to Corporate Risk Management for reimbursement after repairs or replacement have been completed. Corporate Risk Management will credit the department’s cost center for the amount of the verified loss, minus any applicable deductible. The cost center to be credited should be shown on the paid invoices.

Reporting a Claim

  1. Report the incident to Duke Police at 684-2444 or the appropriate law enforcement authority.
  2. Notify Corporate Risk Management.

    Phone: (919) 684-6226
    Fax: (919) 684-6988
    E-Mail: corprisk@duke.edu

  3. Please provide the following information:
    • Date and location of incident
    • Description of incident
    • Employees involved
    • Description of damage
    • Projected cost of damage
  4. Notify the appropriate maintenance department to fix the condition causing the loss.

If assistance with cleanup, repair, or restoration from an outside contractor is needed, Corporate Risk Management can recommend specialists in fire or flood restoration. Upon advice from Corporate Risk Management, the Occupational and Environmental Safety Office may also need to be notified.