Property Loss
The University’s Risk Management Plan covers property owned by Furman University. Property coverage DOES NOT cover the personal property of students, faculty, or staff.
Losses can include:
- Fire
- Flood
- Lightning
- Theft
- Or other forms of physical damage
To submit a Property Loss Claim, contact Bernie Stanton at 294-3287.
The Property Loss Coverage portion works on a reimbursement basis. When a loss is experienced and before the claim can be submitted, the item(s) must be either repaired or replaced at the expense of the department which experienced the loss.
Auto Insurance
The University maintains Automobile insurance for its fleet. In the event of an accident, immediate notification should be made to Bernie Stanton at 294-3287.
Reimbursement will be based upon the estimate of repair, subject to a departmental deductible. Older models may not have collision coverage.
Use of Personal Vehicles on University Business
When a personal vehicle is used for official university business, the driver may be reimbursed at the current university mileage reimbursement rate. This reimbursement factors in the cost for gas, oil, repairs, depreciation, and insurance. In the event of an accident, the driver’s personal auto insurance covering the vehicle is always primary. The University’s insurance will cover in excess of primary coverage. There is no coverage for physical damage caused by vehicles owned by others.
Rental Car Coverage
Domestic: The University’s insurance will cover the individual as well as the vehicle when the vehicle is rented within the course and scope of employment; therefore, employees should NOT purchase additional coverage provided by the rental company. Drivers should be certain that it is clearly shown on the rental contract that the rental is on behalf of Furman University. Any deductible will be the responsibility of the driver’s department.
A South Carolina Insurance Identification Card which includes current university coverage information should be carried in the rental vehicle. This insurance card is available through the Travel Coordinator’s office.
International: Purchase the maximum liability limits available from the rental company and full physical damage coverage on the vehicle. If possible, add the University as an additional insured. 15 Passenger Vans. Passenger vans (15 persons) shall be driven only by persons at least 21 years of age who have been certified by the university. Certification includes a road test and a motor vehicle background check performed by University Police.
The certification process may take up to 3 weeks so travelers should plan accordingly.
Certificate of Insurance
A certificate of Insurance (COI) documents the existence and terms of insurance coverage. The purpose of the COI is to provide evidence that a party can satisfy various obligations such as paying liability losses, workers’ compensation benefits due to its employees, or paying for loss or damage for which it is responsible. COI is for informational use only and is not considered a legal document. Furman University shall be named as an additional insured on commercial general liability policies. The Risk Management Office also provides COI to document the University’s insurance coverage. If your vendor requires a COI showing University coverage, please contact bernie.stanton@furman.edu.
All contractors and vendors are required to provide evidence of insurance coverage prior to commencing work on behalf of the university. Insurance coverage must be maintained for the full term of the contract and any extension.
Minimum coverage limits are as follows:
- General Liability: $1,000,000 per occurrence
- General Liability: $2,000,000 aggregate
- Automobile Liability: $1,000,000
- Workers Compensation: Statutory Limits
The University reserves the right to require higher limits from a contractor or vendor for a particular project or event due to the nature of the event, project, venue, or anticipated attendance. Examples of situations requiring higher limits of General Liability up to $5,000,000 excess coverage include:
- Hazardous Waste Disposal Contractor
- Charter Bus Company
- Airplane Charter
- General Contractor for Building Construction or Major Renovation
- Large Special Events