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Property Claims

Property Claims (loss to college property):

Immediate attempts must be made to protect LSC property from further damage.  Property damage should be reported immediately to the LSC ORM at Office of Risk Management - Service Now or 832.813.6752, and to the campus Vice President of Administrative Services.

The Property Loss Report form should be completed and reported, together with photos of the damage and any special precautions which should be performed to secure the property and other important information vital to preserving the scene for potential claim investigation by relevant insurance carriers, to the ORM at Office of Risk Management - Service Now.

In the case of theft or vandalism, contact LSC Campus Police at 281-290-5911 (emergency number) or 832-813-6800 (non-emergency number) to report the incident and obtain an Incident Report and case number. A complete list of all damaged items (including make, model, and serial number) should be prepared. Copies of the original purchasing documents, i.e., purchase orders, paid invoices which show original cost, date of purchase, purchase source, should be obtained.

Inquire and document the possible repair of the equipment. If practical, repair equipment or replace only damaged parts of equipment. If replacement is necessary, document the current replacement cost (which is the price available to LSC for comparable property with similar features - no "upgrades"). Be sure to include the name and phone number of the person giving the price quote.

Place any LSC property that is damaged beyond repair and is being replaced in a safe location for inspection by the insurer. Technically, any property replaced with insurance funds belongs to the insurer. Retain the damaged property and the equipment which caused the loss. For example, if a faulty valve caused water damage to some property, save the valve.

Comply with the insurance provisions which require LSC department and/or divisions to compile and submit all claim information in a timely manner.

The department responsible for the lost or damaged property will be charged the deductible.

 

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