Insurance: Stolen Property

Type: 
Procedure
Category: 
Finance
Department: 
College Services
Phone: 
(541) 463-5310
Primary Contact: 
Brian Kelly
Contact Email: 
Responsible Executive Authority: 
Vice President, College Services
Purpose: 

This procedure describes insurance coverage and who to contact to report theft of any property, or loss of equipment or damage.

Narrative: 

All buildings and equipment owned or occupied by Lane are covered by property insurance. Coverage is provided for risk of direct physical loss or damage, which includes such things as fire, vandalism and malicious mischief.

Coverage is based on a replacement cost basis with like kind and quality (what it would cost today to replace the same item without deduction for depreciation). There is a $1,000 deductible on all claims and the department is responsible for covering this amount.

The theft of any property should be immediately reported to Public Safety, (541) 463-5558.

Any loss of equipment or damage should be reported to the College Operations office, (541) 463-5311.

Date Adopted: 
Monday, January 1, 2001
Date Last Reviewed: 
Sunday, January 1, 2006