Common use of Loss of Property Clause in Contracts

Loss of Property. I am responsible for the security of my own property. The University will not be responsible for theft, damage, or other loss of my money, valuables, or personal effects in or on University premises, including storage areas. Any personal effects, valuables, or other property I leave in the residence halls or on the premises after termination of this Contract shall be considered abandoned property and handled by the University in accordance with state law and University policy. I understand that, in order to protect myself from losses, the University strongly encourages me to review my homeowner’s policy or to purchase renter’s insurance through a private insurance carrier licensed by the State of Illinois.