Each year the University has to provide its property insurer with estimates of the contents valuation, per building.
How to value your contents
Schools/Institutes and Departments should adopt their own processes and allocation of responsibility to ensure that contents valuations are maintained. However, we would ask that Heads of Administration/Professional Services for each School/Institute/Department, ensure that contents valuations are provided for their School/Institute/Department.
In the event that you do have a fire or other incident resulting in a claim, we recommend that you maintain itemized lists of contents for large or more expensive items, and include estimates for more generic items and for smaller items/consumables. For example, you are not expected to count every pipette and every desktop/laptop – estimates of numbers of these would be sufficient.
The values should be:
- The current replacement cost
- Inclusive of VAT, if it applies
How to update the insurance team
The template Contents Template 2023 should be completed and returned to email@example.com.
When to update your valuations and the insurance team
You should notify the insurance team in the event that your contents valuations change by more than £100k. This should be done on an ongoing basis - at the time of purchase or disposal of contents.
If a new academic member of staff joins the university, bringing with them equipment further to their grants, the member of staff should complete the Contents Valuation Template 2023 and pass it to the insurance team.
If equipment or assets are acquired (but not purchased) by the University, the Contents Valuation Template 2023 should be completed and passed to the insurance team. You should advise whether your entry is additional amounts only or a revision to the totals that have previously been notified to the insurance team.
Unsure what information we currently have for your department?
Please contact firstname.lastname@example.org who will be able to provide you with the information that we currently have.