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Property Insurance

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage.

README - Regarding Claims

Our insurance carrier requires that we provide immediate notice of a claim within two (2) business days after the loss. If you have an insurance loss in your Department, please notify SRS immediately.


If you are involved in an accident while driving a UNM vehicle, you must complete a UNM Automobile or Equipment Damage or Loss Form and forward it to Safety & Risk Services as soon as possible.

The University's insurance policy, provided by the New Mexico Risk Management Division (NM RMD), covers damage to UNM owned vehicles caused by all perils including collision, vandalism, theft, and fire. The deductible is $5,000.00 for theft and $2,500.00 for all other perils. The applicable deductible is the responsibility of the department sustaining the loss.

If damage to a University owned vehicle is the fault of a third party, Safety & Risk Services will attempt to recover money from the at-fault driver's insurance company and reimburse the appropriate department for the loss.

If you do not report the accident to Safety & Risk Services, all repairs will be charged to your department account.

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 $5,000.00 for theft/burglary of property and $2,500.00 for all other perils including flood, vandalism, fire, etc. The department sustaining 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. Fill out one of the below forms and forward the information along with a copy of the police report (if applicable), original purchase document(s), and written estimates or replacement cost for the property; loss or damaged.
  2. Submit an Adjustment to Inventory form to Property Accounting if the value of the property stolen or lost is over $5,000.00

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).

The University's Boiler and Machinery policy covers losses resulting from sudden and accidental breakdown of objects such as boilers, air conditioning, refrigerating systems, pumps, compressors, turbines, engines, wheels, electrical distribution equipment and transformers. The policy also covers the cost of repairing or replacing the damaged equipment and business losses incurred from the equipment not functioning.

The University's insurance policy, provided by the New Mexico Risk Management Division (NM RMD), covers damages to UNM boiler and machinery equipment. The deductible is $25,000 for damages.

The applicable deductible is the responsibility of the department sustaining the loss.

The University's fine arts policy covers fine arts and collectible objects that include but are not limited to; paintings, etchings, drawings, photographs, manuscripts, rugs, tapestries, natural history objects or historical artifacts, or objects that are a part of an exhibit used in direct association with an installation or exhibition. The University's fine arts policy covers such objects that are owned or loaned by the University.

The fine arts policy does not cover damages resulting from wear and tear, gradual deterioration, inherent vice, rodents, loss or damage sustained due to or resulting from any repairing/restoration/or retouching process. The policy also does not cover damages due to acts of war, nuclear reaction, radiation.

The deductible is $25,000 per occurrence, but only for permanent collections on premises. There is no deductible for temporary loans.

The applicable deductible is the responsibility of the department sustaining the loss.

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.

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).

The University's Crime policy protects the University from losses that may result from but not limited to employee dishonesty, embezzlement, forgery or alteration.

The University's Terrorism policy protects the University's buildings, equipment, and inventory that have been damaged or destroyed resulting from terrorist activities. The term “act of terrorism” means any act that is certified by the Secretary of the Treasury, in consultation with the Secretary of Homeland Security and the Attorney General of the United States.