With the significant values of our properties and contents, the University's insurance premiums would be astronomical to insure against every type of loss. This simply is not a cost-effective purchase. However, your department will be responsible for the insurance premium. My department has a lot of theft and vandalism losses. Without a doubt, theft and vandalism are the most frequent types of losses occurring to campus property.
Vandalism is most frequent in our south campus residence halls.
And most of these losses have no insurance coverage because of our high deductibles. It is our experience that the vast majority of thefts are brought on by human carelessness and therefore are easily preventable by using good judgment. Departments should focus on loss control measures rather than insurance when addressing this problem. However, insurance coverage is available for theft and vandalism. Departments can purchase all-risk insurance for some or all of their contents.