Complete and submit a Property Loss Report to RMS with whatever information you have available as soon as possible. It is important to file the claim in a timely manner, even if all of the supporting documentation isn't immediately available. Losses estimated to exceed $10,000 are to be reported within one working day. All other property losses are required to be reported within 10 days. Losses not reported within 90 days will be denied. RMS strongly recommends that all claims be reported as quickly as possible so that claim investigation and adjusting can begin.
Obtain repair estimates, or use original purchase documentation to estimate the value of the loss. It is important to file the Property Loss Report quickly with RMS, even if all of the requested information is not immediately available.
The state does not have a deductible, however there is a minimum property claim of $100.00.
First, notify the rental car agency and follow their instructions for returning the vehicle to them. Tell the rental agency that the vehicle was rented for UA business, and that the university's insurance program will respond to any damage claims. If you complete an accident report for the rental agency, read carefully anything you are asked to sign, and keep a copy of all documents. Refer the rental car agency to RMS and we will tell them how to file their claim with the State of Arizona. DO NOT assume that the rental car agency will notify the UA about your accident. As soon as possible, complete an Auto Loss Report and forward it to Risk Management with any documents from the rental company.
Contact UAPD to file a report for all property losses that arise from criminal activity (theft, vandalism, etc.) and for vehicle collisions. If the loss occurred off campus, file your report with the police department where the loss occurred. If you are provided a case number, include this with the Property Loss Report. RMS will obtain police reports as needed to document the claim for the adjuster.
Your department may proceed with purchasing replacement equipment at any time, but this must be done with your own funds. There is no mechanism to provide loan or bridge funds to departments while awaiting insurance recovery funds.
Losses involving real property (buildings, land, permanent fixtures) are covered for the actual cost of repair or replacement. Losses involving other property (computers, lab equipment, vehicles, etc.) are covered at actual cash value. Actual cash value or ACV is based on current replacement value less depreciation depending on the age and expected useful life of the item of property. Adjusters rely on a scale that assigns varying expected useful life values to different types of property.