Self Storage

Self Storage Business Insurance Coverage

Florida’s Finest Insurance Group 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

Coverage For Self Storage Include:

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)

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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
At all described premises	$50,000
In transit or at all undescribed premises	$25,000
Fine Arts	$10,000
Personal Property at other Premises	$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
At or within 1,000 feet of described premises	$50,000
Undescribed premises	$5,000
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
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
$1,000 Deductible per Claim

Optional Coverage Lines

Hired and Non-Owned Auto. The limit 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 $5 Million; however higher limits may be available upon request)
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