Property Coverage

Buildings and Contents Coverage

The University purchases commercial catastrophic property insurance covering academic/general-funded facilities with a single incident deductible of $2,000,000 per occurrence.

Self-Supporting, Auxiliary Operations and Facilities Coverage

The University maintains commercial property insurance on self-supporting, revenue-producing, and auxiliary facilities that are an integral part of the operations of the University. These insured facilities include the residence halls, the Iowa State Center, the utility system, Memorial Union, athletic facilities, and other auxiliary operations. Commercial property insurance generally covers loss by fire, lightning, theft, explosion, wind, and hail. Deductibles vary from $1,000 to $1,000,000.

Miscellaneous University-Owned, Leased or Loaned Property Coverage

Certain circumstances may require the purchase of commercial insurance for property that has been loaned or leased to the university. In addition, commercial insurance is available for miscellaneous University owned property of significant value that may create a financial hardship to repair or replace. Purchases must be made through the Office of Risk Management.

Property - Personal and Non-University Owned Coverage

Iowa State University does not assume responsibility for personal or non-university owned property kept or stored in university facilities. Individual staff members are responsible for their own belongings, including personal books, journals, library materials, manuscripts, and other personal belongings that may be kept on the campus. Should damage or loss occur, the payment for loss or replacement is the responsibility of the individual. Staff members are encouraged to be sure that their personal insurance covers their personal property kept away from home.

Compensation may be made in cases where the university has been negligent or has assumed the responsibility because the property has been specifically authorized for use in a university event. Compensation will require both the recommendation from the department and central administration approval, and is subject to the availability of funds from the operating unit.


Report all loss or damage to the Office of Risk Management within 24-48 hours.
If Risk Management cannot be immediately contacted, contact the Department of Public Safety to file the appropriate reports.