Property and Fine Arts Insurance

Loss, Theft or Damage to University Owned Property

Tufts property insurance covers loss of building contents, equipment, and the property of others placed in the University's care, custody and control when the property is in a building owned or leased by Tufts.  Departments may be charged a deductible up to $5,000. Insurance reimbursement for losses of Tufts owned property is made on a repair/replacement basis with property of like kind and quality. If the property cannot be repaired or replaced, then the loss will be reimbursed at the depreciated cash value. In order for the Risk Management & Insurance Department to consider a claim, the following must be received:

• Public Safety/Tufts University Police Report or detailed narrative of the event giving rise to the loss.
• Proof of ownership and value (e.g., copy of the original purchase order and paid invoice).
• Evidence of replacement of or repairs to property.
• Photographic evidence, if possible.

Loss, Theft or Damage to Property Not Owned by the University

Tufts property insurance program does not cover property it does not own unless the University has assumed liability by way of a written contract or agreement. Departments should notify Risk Management & Insurance before the initiation of contracts or agreements in which the University is required to assume property coverage for non-owned property. In order for Risk Management & Insurance to consider a claim for non-owned property, the following must be provided:

• Public Safety/Tufts University Police Report or detailed narrative of the event giving rise to the loss.
• A copy of the agreement between the property owner and the University.
• Evidence of replacement of or repairs to property.
• Photographic evidence, if possible.

Loss, Theft or Damage to Personal Property

The University does not cover personal property that is lost, stolen, or damaged during a business trip or while on campus. Please contact your homeowners/renters or auto insurance carriers for possible reimbursement for personal property loss, theft or damage.

Fine Arts Insurance Coverage

Tufts maintains insurance for its fine arts collection and rare books. Department managers are responsible for maintaining a detailed inventory of all artwork in their departments. The inventory should include a brief description, appraisal, date acquired and a photograph of each object. A copy of this inventory should be stored in a location outside of the department; preferably in a different building. Departments will be responsible for the first $1,000 of any loss. In order for Risk Management & Insurance to consider a claim, the following must be provided:

• Public Safety/Tufts University Police Report or detailed narrative of the event giving rise to the loss.
• Documentation showing proof of ownership.
• A copy of the agreement between the property owner and the University.
• Evidence of replacement of or repairs to property.
• Photographic evidence, if possible.

Fine Arts on Loan for Display or Research

Art, artifacts or rare books on loan must be accompanied by a written loan agreement signed by both an authorized University representative and by the lender. The loan agreement should include a detailed description of the property, term of the loan, appraisal of the property (declaring value), name of the artist and a photograph of the object, if possible. The loan agreement should also state whether the University or the lender is responsible for maintaining insurance on the property while in the care, custody, and control of the University. In order for Risk Management & Insurance to consider a claim, the department must provide the following:

• Public Safety/Tufts University Police Report or detailed narrative of the event giving rise to the loss.
• Documentation showing proof of ownership.
• A copy of the agreement between the property owner and the University.
• Evidence of replacement of or repairs to property.
• Photographic evidence, if possible.