Self-Storage Facility Insurance

Almost never. GL forms exclude property in your care, custody, or control, and an underwriter will argue that a locked unit on your premises qualifies. Customer goods legal liability fills that hole. It responds when you're legally responsible for the damage: a roof leak you knew about, a break-in through a gate that had been broken for a month. Pair it with sale and disposal coverage, because a wrongful lien sale claim is the one most operators eventually see.

They insure their trucks. Your exposure as the dealer is a different question, and the answer is in a dealer agreement most operators signed without reading the insurance section. Your employee hands over keys to an unfit driver, or moves a truck across the lot and hits a customer. Those claims come to you. We read the agreement, then close the gap with hired and non-owned auto and an umbrella that sits over it.

Usually, and they shouldn't be placed alone. Gulf wind goes to surplus-lines and London capacity, where named-storm deductibles start around 5% of insured value. On a schedule, the inland locations help carry the coastal ones, and the deductible can be negotiated per location instead of across the whole program. One storm shouldn't trigger a deductible on buildings it never touched.

Accounts with roughly $50,000 and up in annual premium. In self-storage that usually means several locations, or one or two large facilities with coastal exposure. If you're a single inland facility under 400 units, a standard package policy is probably the right answer and we'll tell you so.