Inland Marine

Inland Marine is special property insurance designed for scheduled (listed) equipment such as musical instruments, art work and special expensive equipment on loan or temporarily being used by a department for which the lender or department would want insurance coverage. Use the Inland Marine quote form to list the property details. The insurance request will be submitted to Alliant Insurance Services by Risk Management for a prompt quote.

Deductible

1. Musical Instruments: $1,000
2. Fine Arts: $1,000
3. EDP (less than $1mm): $1,000
4. EDP(greater than $1mm): $10,000
5. Laptops: $1,000
6. Camera Equipment: $1,000
7. Misc. Property: $1,000 Deductible applies against total loss from any one occurrence. The total to be deducted shall not exceed the largest deductible applicable. The loss must be reported within 30 days. The rate per $100 varies with items insured.

Loss Evaluation

1. Property of Insured: replacement cost
2. Property of others: the Insured’s interest and for the valuation consistent with the liability of the Insured.

Insuring Agreement

Computer Form:

1. Covered properties:  EDP and media owned, leased, rented, or controlled by the Insured and for which the Insured is liable.
2. Perils Insured:  all risk of direct physical loss or damage, except:
3. mechanical failure
4. dishonest acts
5. electrical disturbance

Commercial Article Floater:

1. Covered Properties:  musical instruments, fine arts, camera equipment owned, leased, rented or controlled by the Insured and for which the Insured is liable.
2. Perils Insured:  all risk of direct physical loss or damage, except:
3. wear and tear
4. hostile or warlike action, insurrection, rebellion
5. nuclear reaction, radiation, contamination
6. unexplained loss, mysterious disappearance
7. mechanical breakdown, latent defect
8. corrosion, rust
9. misappropriation, dishonest acts
10. earthquake, flood
11. As to Fine Arts:  damage from repairing, restoration, or retouching process; breakage, unless caused by an insured peril, or endorsed thereon.

Special Conditions

1. Fine Arts:

• must be packed/unpacked by competent packers
• declared/agreed value
• pair and set: full value of the set

Musical Instruments

1. not played for remuneration, unless endorsed thereon

Coverage Extensions: Lender’s Loss Payable Endorsement

Claims Administrator 

Lisa Telles Risk Manager/Clery Director Risk Management x2079 or x6830

To request a quotation, contact the Risk Management Department at X 6830.

PLEASE NOTE: This summary of the policy terms is provided for information only. It does not convey any rights upon the insurance nor alter its condition for coverage. Please refer to the actual policy for full disclosure of the policy terms.

Inland Marine Property Insurance Quote Form