Property in Transit Insurance

Queen's carries a multi-peril transportation insurance policy with the Zurich Insurance Company that covers all university property in transit (either by railroad, public truckers, or transportation companies including the insured's own vehicle) from the time the insured property leaves the factory, store or warehouse (the initial point of shipment) until it is delivered to its destination.

Some of the details of this policy are as follows:

• this policy is effective only in Canada and the continental United States;
• the liability limit is $250,000;
• the deductible is $5,000;
• all shipments valued in excess of $100,000 must be reported to the insurance carrier.

As a matter of procedure, the Pensions and Insurance area recommends the following:

• departments using Purolator, Federal Express, or similar services should always indicate a value for the goods shipped on the bill of lading if the service offers a token amount of free insurance (e.g. Purolator offers Queen's $500 of free insurance per shipment- therefore, claim the actual value if below $500, and claim $500 for any shipment valued in excess of $500);

• goods should be sent "FOB Queen's University" rather than FOB the warehouse, which means that Queen's does not accept liability until the goods are delivered and installed at the university;

• all shipments valued in excess of $100,000 should be reported to the Pensions and Insurance prior to shipment;

• all goods shipped outside the continental United States or overseas should be reported to Pensions and Insurance in order to secure the appropriate insurance coverage.