Is there insurance coverage on the building my department occupies and on our contents?
YES. At a minimum, all
University-owned buildings and contents including transformers and substations listed with the
N.C. Department of Insurance are required by State statue to be insured for Fire/Lightning. This
coverage is free to general funded (state-appropriated) departments. Receipts originated depts. must
pay a premium for Fire/Lightning coverage. All departments must pay the premium for any additional
coverage requested. University departments are also responsible to notify IRM when a new building
or contents are added to their inventory of buildings.
If my department moves/changes location on or off campus, does our insurance coverage follow us?
YES, but you must contact IRM if
your department relocates property assets to another location. Property insurance coverage is
location-specific.
Is the insurance for buildings and contents at replacement cost?
YES. All buildings and contents
are insured on a RCV (replacement cost value).
