1. defendant owed a duty of care to the plaintiff (you'll be hard pressed to show this)
2. defendant breached that duty by failing to act with due care
3. breach caused injury
In re: to #1, the commuter pass you purchased probably disclaims any and all warranty or claim to due care by parking on campus. I'm sure there is language to the effect of "blaa blaa blaa parking is done at your own risk, we are not liable for any damage yada yada yada." If you can show that they owed a duty of care by failing to maintain the drains which caused the breach, you will probably get damages. But how much is that going to cost for an attorney? Probably not worth it. But seriously, don't settle for $1500 from insurance, thats ridiculous.