Is University property insured while in transit from one location to another?
Insurance for transporting new property is handled through the Procurement Office. To insure property you’ve owned awhile, read on. If the University property is worth less than $100,000 and is traveling within the continental United States and Canada, it’s automatically insured at no cost to your department. If the property is worth more than $100,000 you must buy insurance from the University at a charge of 5 cents per $100 of value. To insure shipments worth more than $100,000 with destinations in the contiguous U.S., please complete a Prior Approval Form and submit it to us, along with a copy of the Purchase Order, 15 working days before the shipment date. For items that do not have a purchase order, please contact us at 3-9318 for procedures. If you’re transporting University property to Alaska, Hawaii, US territories (such as the Virgin Islands or Puerto Rico), or foreign countries, complete the Open Cargo Reporting Form and submit it to us 15 working days before the shipment dat
