Self Storage Coverage Summary

The Self Storage Policy affords property and liability coverage for well managed, well maintained Self Storage facilities. It is specifically designed to insure the unique exposures of Self Storage businesses. Limits shown below may not reflect all policies written. Please contact the Storage Division for clarification.

Business Property and Loss of Income
Coverage is provided for:

  • Blanket limit at one location for Business Property:
    • Buildings and Structures.
    • Business personal property owned by the insured and used in the self storage business.
  • Loss of Income including extra expense and accrued rents.

Features:

  • Business property limit 20% higher than agreed replacement cost.
  • Replacement cost coverage, if actually replaced.
  • No coinsurance clause.
  • Loss of Income built in at up to 30% of business property limit and increasable.
  • Loss of Income coverage includes extra expense and accrued rents.
  • Loss of Income extended to cover actual loss sustained up to 180 days beyond the date of repair or replacement.
  • Loss of Income and Extended Period coverage up to 24 months.

Additional coverage provided:

Most limits shown below may be increased for an additional premium.

  • Business Property coverage includes coverage for ordinances or laws requiring demolition of undamaged portion of structure.
  • $100,000 for increased costs and loss of rents caused by ordinance or law.
  • $5,000 for money, checks, money orders and stamps.
  • $10,000 for exterior signs.
  • $5,000 for employees' property, subject to sublimits on certain types of property.
  • $10,000 for computer media, valuable papers and records.
  • $25,000 for accounts receivable.
  • $25,000 for fences.
  • $10,000 for property off premises or in transit.
  • $1,000,000 for newly acquired business property.
  • $10,000 for lawns, outdoor trees, shrubs and plants, not to exceed $1,000 on any one tree, shrub or plant.
  • Actual expense incurred in replacement of glass.
  • $25,000 for pollution extraction (when resulting from a covered cause of loss and reported to us within 180 days).

Employee Dishonesty

  • Covers loss of money, your business personal property or personal property of your tenants by dishonest or fraudulent acts of your employees.
  • Limits of $5,000, $10,000 or $25,000 available.

Business Liability
Coverage is provided for:

  • Business Liability.
  • Personal Injury and Advertising Injury.
  • Non Owned and Hired Auto Liability.
  • Premises Medical Payments.

Other features:

  • Liability limits available up to $5,000,000 per occurrence and aggregate.
  • Medical Payments limits available up to $10,000.

Customer's Goods Legal Liability:

  • Protects against liability claims by customers for loss or damage to their stored personal property. See overview for more details.
  • Limits available from $25,000 to $1,000,000.

Sale and Disposal Liability:

  • Protects against liability claims by customers for loss to their stored property due to lock out or lien enforcement by the facility owner.See overview for more details.
  • Limits available from $10,000 to $1,000,000.

This is a summary only. Please ask for a policy for complete details, conditions & limitations.