University Property

The University's property policy covers owned buildings and contents, and property on loan to UNM from third party individuals and organizations. The deductible is $5,000 for theft/burglary of property (except theft/burglary of fine arts which has a $1,000 deductible) and $1,000 for all other perils including flood, vandalism, fire, etc. The department suffering the loss is responsible for the deductible.

If your department has property on loan from a third party, you must request a Certificate of Insurance. This notifies the University's insurer, the New Mexico Risk Management Division (NM RMD) in Santa Fe, that the property is in the University's care and custody. The borrowed property is considered UNM property for the term of the loan once NM RMD has been notified. Complete the'Certificate of Insurance Request Form and fax to Risk Management to request a Certificate of Insurance. Please allow at least five (5) working days for your request to be processed.

To File a Property Loss Claim

  1. Forward the following information to Safety & Risk Services as soon as possible after discovery of the loss: Loss or Damage to University Property Report; copy of the police report, if applicable, original purchase document(s), and written estimates of replacement cost for the property lost or damaged.
  2. Submit an Adjustment to Inventory form to Property Accounting if the value of the property stolen or lost is over $5000

The Department of Safety & Risk Services will forward the information to the NM RMD for investigation and processing. The department contact will receive a Proof of Loss statement from the insurance company, which confirms the validity of the loss. The statement is signed by a department representative and notarized. The original is returned to the insurance company and a copy of the statement is forwarded to Safety & Risk Services. The insurance recovery check is received by Safety & Risk Services and is then deposited into the appropriate departmental account (provided by the department when the claim is filed)