Posted on 04 Feb 09
Storefront owner Britt/Paulk Insurance continues to expand its Self Storage commercial insurance program. In response to changes within the industry, Britt/Paulk’s appetite now includes Mobile Self Storage operations. Existing self storage facilities which also offer mobile self storage containers and services, in conjunction with their traditional storage business model.
Presently Britt/Paulk has a portfolio of individual policies to handle the Property, General Liability, and Inland Marine needs of these accounts. However, they are introducing enhancements to the Self Storage Businessowners Policy to streamline coverage and marketability. The expansion is rolling out as state filings are approved.*
The Mobile Self Storage Operators Extension Endorsement extends coverage to mobile containers owned and leased by the insured while: at any rental site, awaiting installation, in transit by the insured, or at a temporary storage location. Sub-limits for Flood and Earthquake are automatically provided, with options for increased limits at an additional premium. Coverage for Sale & Disposal Legal Liability and Customer Goods Legal Liability is also afforded for the mobile storage operator.
Because this industry is new and various types of business arrangements exist, our underwriting appetite focuses upon:
Dedicated mobile self-storage companies, which operate under a franchise or dealer arrangement for a specific territory. Such operations will have a dedicated warehouse or business premises used solely for storage of mobile containers.
We will not solicit accounts, which are identified as:
Legal entities, which are household moving & storage companies or agents.
Rental of ocean shipping containers, refuse containers, transport containers, or refrigerated food containers.
Agents should remember that Britt/Paulk offers a carrier, which writes the Business Auto Coverage along with its Self Storage BOP. The typical account should have these auto characteristics:
Radius – under 200 miles
Acceptable MVR for drivers – (agents should verify before submitting).
Business use vehicles only – (no family autos on the schedule)
Most franchises & facilities will have less than 5 autos and most trucks will not require a CDL.
Producers should always submit a copy of the customer contract with an application. If the account is a franchisee or dealer/distributor, information on the safety and loss control requirements of the franchisor is often helpful.
Self Storage, whether traditional or mobile, is an ever-changing industry. Britt/Paulk also offers solutions for Umbrella, Employment Related Practices, Environmental Liability, Management Professional Liability, and Workers Compensation.
*For more information on state availability and underwriting, please contact David Campbell, CPCU, Underwriting Manager at 1-800-842-8917 – ext. 7627
For more information, visit their storefront at www.programbusiness.com.