Self Storage Business Insurance Coverage

StorageFirst is one of the most comprehensive property and liability programs for self-storage business, mobile self-storage and records storage operators. The following is an overview of the self storage business insurance coverage offered. This is only a summary of coverage and is subject to policy conditions, limitations and exclusions that may vary from state to state.

Note:  Document/Records storage accounts are only eligible if part of a traditional self-storage operation.

Property Coverage Highlights

The NOVA Casualty Company property policy form offers numerous coverage enhancements including:

  • Replacement cost coverage on buildings and your self storage business personal property.
  • Blanket limits for buildings, business personal property and business income.
  • Agreed value. No coinsurance.
  • Fencing and gates included under the definition of building.
  • Business income with Extra Expense.  (Reimburses the insured for loss of income during the construction period)
  • Extended business income.  (Reimburses the insured for loss of income for up to 180 days after reconstruction during the rent up period)

Property Coverage Enhancements*

Newly Acquired or Constructed Property  
    Each Building  $1,000,000
    Each Location for Business Personal Property  $500,000
Debris Removal (additional)
$250,000
Pollutant Cleanup & Removal $100,000
Fire Department Service Charge Policy Limit $50,000
Ordinance or Law
   Coverage A - Included in the building limit
Included
   Coverage B & C - Combined Limit
$250,000
Personal Effects $25,000
Valuable Papers & Records (other than electronic data)
$25,000
   At all described premises
$50,000
   In transit or at all undescribed premises
$25,000
Loss Data Preparation Costs
$25,000
Outdoor Property  $25,000
Accounts Receivable  $25,000
Fine Arts  $10,000
Personal Property at other Premises  $25,000
Personal Property in Transit  $25,000
Extra Expense  $25,000
Employee Theft $50,000
Electronic Data
$50,000
Money & Securities  $25,000
Money Orders & Counterfeit Paper Currency
$25,000
Forgery or Alteration  $25,000
Outdoor Signs
$50,000
Lost Key Consequential Loss
$25,000
Appurtenant Buildings & Structures
$100,000
Sewers and Drains - Backup - up to
$100,000

* Higher limits are available for most items above.

Commercial General Liability

General Aggregate Limit $2,000,000
Products-Completed Operations Aggregate Limit $2,000,000
Personal & Advertising Injury Limit  $1,000,000
Each Occurrence Limit  $1,000,000
Damage to Premises Rented to You Limit (any one premise)
$100,000
Medical Expense Limit (any one person)
$5,000

Customers' Goods Legal Liability

  • Available Limits - $50,000 to $1 Million per occurrence & Aggregate
  • No Mold Exclusion
  • Duty to Defend
  • Defense Costs - Outside the Limit
  • No Deductible for traditional self-storage accounts (Mobile self-storage and Records/Document storage accounts will have a $1,000 per occurrence deductible)

Sale & Disposal Legal Liability

  • Available Limits - $50,000 to $1 Million per Claim & Aggregate
  • Duty to Defend
  • Defense Costs - Outside the Limit
  • $1,000 Deductible per Claim

Optional Coverage Lines

  • Hired and Non-Owned Auto.  The lmiit is included in the GL limit.  (This coverage is only offered when the named insured does not have an owned auto policy)
  • Umbrella Liability (up to $10 Million limit available)
  • Workers' Compensation - Not available in all states.  See WC section.
  • Resident Manager's Personal Liability (Can be included as an endorsement to the GL policy - $100 minimum premium)
  • Employee Benefit Liability (Claims-made form)
  • Equipment Breakdown (Can be included as an endorsement to the property policy form)
  • Inland Marine

StorageFirst does not offer owned auto coverage. 

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