What is Outdoor Property/StorageFirst?
Outdoor Property (often marketed as StorageFirst) is a type of commercial property insurance designed to protect stored goods, outdoor inventory, and related equipment while they are on your premises or in dedicated storage locations. It addresses physical loss and damage from perils such as fire, vandalism, wind, and theft, and works alongside commercial liability and equipment coverage to give broader protection for businesses that keep inventory outdoors or in non-traditional storage areas.
Who needs it
Organizations that commonly purchase this coverage include contractors, retailers, outdoor suppliers, landscapers, associations, and operators of storage yards or lots. Small organizations and clubs that keep valuable equipment or inventory outside may also find it useful. If you manage off-site storage or maintain seasonal inventory outdoors, consider specialized programs like the Off Course and Storage Program to better align limits and endorsements with your exposures.
What it typically covers
Policies usually cover direct physical loss to stored property, including building additions, outdoor racks, and fixed signage. Common components include property coverage for inventory, equipment coverage for tools and machinery, and optional coverages for debris removal and transit. Insurers assess underwriting factors such as theft controls, sprinkler or suppression systems, and distance from emergency services when offering terms. For guidance on handling and operational controls, see resources like Storage, Handling and Safety Risk Management.
Common exclusions or limitations
Typical exclusions include gradual deterioration, mold from lack of maintenance, war or nuclear hazards, and losses tied to professional negligence. Many policies limit coverage for goods in transit, items stored underwater, or property stored long-term without adequate supervision. Pollution-related losses and certain high-value items may require separate endorsements or higher limits. Always review policy definitions for “stored property” and “scheduled items.”
Factors that influence cost
Premiums reflect several factors: the type and value of stored goods, on-site security measures, proximity to fire protection, frequency of inventory turnover, and historical loss experience. Additional exposures, like transportation risks when items are moved between sites or the presence of flammable liquids in storage tanks, can increase cost—see specialized programs such as the Commercial Storage Tanks Program for related tank liability considerations. Higher limits, lower deductibles, and broader endorsements also raise premiums.
Proof of insurance & compliance
Many landlords, municipalities, and contract partners require a certificate of insurance naming them as an additional insured or loss payee. Policies can be tailored to meet contract language for indemnity and hold-harmless clauses, but verifying requirements in writing before work begins avoids coverage gaps. Maintain digital or printed certificates and an updated inventory schedule for quick compliance checks.
How to get a quote
To get an accurate quote, prepare a current inventory list, describe your storage locations and security measures, and note any recent losses or claims. Discuss these details with your insurance representative — talk to your agent — who can recommend appropriate limits, endorsements, and risk management steps. A broker can also compare multiple programs and carriers to find the best fit for your operations.
Risk scenario: A landscaping contractor stores expensive mowers outdoors overnight; without secured fencing and lighting, the contractor increases theft and vandalism exposure that could be mitigated through improved security and endorsement adjustments.
Frequently Asked Questions
Do standard property policies cover outdoor-stored inventory?
Not always. Standard commercial property policies may have limits or exclusions for outdoor storage; a StorageFirst or outdoor property endorsement can extend coverage specifically for inventory kept outside.
How can I lower my premium for outdoor storage?
Improve physical security (lighting, fencing, locked storage), install surveillance, reduce on-site hazards, and shorten storage durations. Documenting these controls helps underwriting and can lower premiums.
Is transit coverage included for items moved between sites?
Transit coverage is often separate. If you routinely move stored goods, ask about inland marine or commercial auto endorsements that cover property while in transit.
Still have questions? Talk to a local insurance expert.