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Property Insurance Coverage

Property Insurance Coverage

Certificate of Property Insurance - A Certificate of Property Insurance that provides a brief outline of the coverage provided by BRIM is available via the link provided above.

When Property Insurance Values Increase

WVU Risk Management maintains an insured inventory of owned buildings and leased locations with BRIM. The value of each building and the contents within each building is reported to BRIM by Risk Management.

Anytime there is an increase in the value to a WVU owned building or to the contents contained within the building, the increase should be reported to Risk Management. In addition to inflation, a significant renovation or addition to an existing building can increase the value. Anytime a significant purchase of equipment or supplies is added to a building, the property insurance value for the contents of a building should be increased. This can result from the purchase of one or more large pieces of equipment, or from the sum of a number of smaller purchases. BRIM relies on WVU departments to keep reported building/contents values current.

Newly Constructed, Acquired, or Leased Property

Newly constructed property should be reported to Risk Management when the building is substantially complete. Newly acquired or leased locations should be reported as soon as the acquisition date is known. This information should be reported via Request for Property Insurance developed for this purpose.