What is it? It covers RTF OWNED EQUIPMENT ONLY and is provided in case equipment is lost, damaged, or stolen.
How much does it cost a production student?
$32.64/pdn student/class/semester – included as part of an insurance bundle (liability, equipment replacement, & accident).
This charge was posted to your What I Owe after the 12th class day.
Deductible: $2,500 PER INCIDENT-- this is what YOU owe if you have a loss, theft, or damage covered by the policy.
1) Stolen camera valued at $6000: you pay $2500 and a claim for insurance submitted for $3500.
2) Stolen tripod valued at $1000: you pay $1000 as it's under the deductible.
3) 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.
4) Stolen camera on Monday and stolen tripod on Tuesday:
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.
5) 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.
6) 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).
If you rent additional equipment that you want to insure, complete & submit the following spreadsheet to Wendy Stuessy (email@example.com) at least one week in advance. No last minute requests will be accepted. A thru O need to be filled out completely.
Costs for insuring rented equipment will be posted to your What I Owe.
This is for graduate students and undergraduate thesis students only. The rented equipment must be used on a student film project for academic credit in an UT Austin RTF class.