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.
Property Coverage Highlights
The Travelers' Deluxe III property policy form offers numerous coverage enhancements including:
- Replacement cost coverage on buildings and your self storage business personal property.
- Blanket limits for buildings, BPP and BI.
- Agreed value. No coinsurance.
- Fencing and gates included under the definition of building.
- Business income with Extra Expense.
- Extended business income-protects the insured for loss of income for up to 180 days after reconstruction and during the rent up period.
Property Coverage Enhancements*
| Newly Acquired or Constructed Property |
|
| Each Building |
$2,000,000 |
| Each Location for Business Personal Property |
$1,000,000 |
| Debris Removal |
$250,000 |
| Pollutant Cleanup & Removal |
$100,000 |
| Fire Department Service Charge Policy Limit |
Policy Limit |
| Ordinance or Law |
$250,000 |
| Fire Protection Equipment Discharge Policy Limit |
Policy Limit |
| Personal Effects |
$25,000 |
| Valuable Papers & Records |
$25,000 |
| Claim Data |
$25,000 |
| Outdoor Property |
$25,000 |
| Accounts Receivable |
$25,000 |
| Fine Arts |
$50,000 |
| Personal Property at other Premises |
$10,000 |
| Personal Property in Transit |
$10,000 |
| Extra Expense |
$10,000 |
| Employee Dishonesty |
$25,000 |
| Electronic Data Processing |
$20,000 |
| Money & Securities |
$10,000 |
| Forgery or Alteration |
$10,000 |
* Higher limits are available for most items above.
General Liability and Customers' Goods Legal 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 |
| Fire Damage Limit |
$100,000 |
| Customers' Goods Legal Liability-Available limits $25,000 to $1 million |
|
Optional Storage Business Insurance Coverages
- Sale & Disposal Liability--Available limits: $25,000 to $1 million
- Hired and non-owned auto
- Umbrella Liability (up to $25 million limit)
- Workers' compensation
- Resident managers' personal Liability
- Employee benefit liability
- Systems breakdown
- Inland Marine
StorageFirst typically does not offer owned auto coverage.