INSURANCE -- Equipment Replacement Insurance

For any questions or concerns about insurance issues, be sure to consult your instructor or TA.

For further clarification, email RTF Administrative Office.

What is it? 

  • It covers COLLEGE-OWNED EQUIPMENT ONLY and is provided in case equipment is lost, damaged, or stolen.

Deductible: $2,500 PER INCIDENT-- this is what YOU owe if you have a loss, theft, or damage covered by the policy.                        

  • Stolen camera valued at $6000:  you pay $2500 and a claim for insurance submitted for $3500.
  • Stolen tripod valued at $1000: you pay $1000 as it's under the deductible.
  • Stolen camera AND tripod, stolen at the same time: $6000 + $1000 = $7000:  you pay $2500 and RTF files a claim with insurance for $4500. There is no distinction between ownership of multiple items in a single incident but all items must be insured.
  • Stolen camera on Monday and stolen tripod on Tuesday:  Two incidents:   First incident is $6000: you pay $2500 and RTF files claim an insurance for $3500.   Second incident is $1000: you pay the full $1000 because it is below the deductible.      
  •  Oops - something wasn't covered under insurance; you pay the entire amount.  This happens most often if the student can not show due diligence was taken to properly care for and safeguard the equipment.

 I don't have the money to pay for the deductible.  What happens?

  • We work out a payment plan.  You pay a pre-determined amount every month until the amount is repaid in full.  It must be repaid in full prior to graduation.  If you miss a payment, your records are barred (you cannot register, do adds/drops, get a transcript, or graduate until the bar is paid).

What if I have a claim?