As a managing general underwriter, Safehold Special Risk works on behalf of top-rated insurance carriers to create risk management programs that meet the unique needs of the self-storage industry. Available nationwide, our program features low deductibles, flexible payment terms, and accurate, responsive claims handling.
• Hard-to-find coverage options available for coastal properties
• Fraud and legal defense assistance
• Optional coverage extensions - including hazardous contents removal, resident manager’s liability, and equipment breakdown
• Discounts for national and state association memberships, protective devices, and multiple locations
Additional coverage options are available for Self-Storage businesses with employee related exposures, including Resident Managers’ Liability, Employee Dishonesty, Employee Benefit Liability, and Workers’ Compensation.
Target Classes
• Self-Storage
• Limited Lessor's Risk Only (LRO) – Currently under development
• Business Owners’ Protection (BOP) extension for additions and buildings under construction, including alterations and repairs to the building or structure
• Course of construction includes materials, equipment, supplies and temporary structures from time of delivery to completion and occupancy
Coverages
• Self-storage business owners’ coverage form
• Special cause of loss - subject to exclusions & limitations
• Blanket building and personal property
• Loss of business income & extra expense
• Ordinance or law coverage
• Legal liability for customer goods
• Employee theft
• Liability and medical expenses
• Hired and non-owned automobile liability
• Accounts receivable: $25,000*
• Business computers: $25,000*
• Debris removal: $25,000*
• Money and securities: $10,000 on premises*/ $2,000 off premises
• Outdoor signs: $10,000*
• Trees, shrubs, and plants: $500 per tree, shrub or plant
• Valuable papers and records: $25,000*
• Equipment breakdown
• Umbrella/ Excess Liability: $1 million to $10 million for true umbrella or follow-form excess liability coverage
*These limits may be increased for an additional premium.
Additional Liability Coverages
• Customer’s Good Legal Liability: $25,000 with limits up to $1 million available
• Sale and Disposal Liability: $10,000 with limits up to $1 million available
• Hazardous Contents Removal: $25,000-$50,000 or $50,000-$200,000 available
• Business Liability: $300,000 included with $500,000, $1 million, and $2 million options available
• Medical Expense: $5,000 with higher limits available
Deductibles
Options of $1,000, $2,500, $5,000, $10,000 or higher available.
We are happy to discuss our Self-Storage Insurance program further with you and your client, please feel free to reach out to us with any questions you have.