Rates

All Risk Program Rates

The following are annual rates based on $100 of insured value.  Rates are based upon a survey of commercial insurance rates with a discount applied.  Rates are subject to change due to loss experience.

Boats Shells $ 1.10
Cameras and related equipment .35
Computers and related equipment .18
Contractors’ Equipment (tractors etc..) .31
Fine Arts .13
General Property .20
Musical Instruments Heavy/Stationary (pianos etc..) .20
Musical Instruments Portable .30
Power boats, coastal water 1.80
Power boats, inland waters .90
Sailboats with aux. power .80
Sailboats without aux. power .40
Scientific Instruments .16

Special risks-rates to be determined by the Office of Risk Management and Insurance. Rates are effective July 1, 2014

The minimum premium for “all risk” coverage is $25 per unit account number. Units can sometimes save money through consolidating their bills into one account. Risks larger than $50,000 of value for any one piece of equipment may not be accepted into the program. Units should call to make special arrangements for higher value equipment.

When scheduling property,  units are requested to provide their unit name, account number to be charged, a description of the property, property model #, property serial number, and the property’s replacement cost value.