Self storage facilities rent out units to their tenants, but they have little oversite of how they are used. Sometimes facility owners find that their tenants have left pollutants in their units that, by law, must be disposed of in specific ways. This can be expensive and prevent you from leasing the surrounding units until the issue is corrected.
A standard self storage lease agreement should have wording that helps to prevent this type of loss by having a section in it that states that hazardous materials are not to be stored. Some leases go so far to list the types that are restricted such as: Gas, oil, flammable chemicals, explosives, fireworks, ammunition, corrosive, toxic, poisonous, or hazardous materials or waste.
Being a part of your states self storage association may give you access to a tenant lease agreement that has been reviewed by an attorney and has many of the necessary sections to advise a tenant on what they are allowed to store at your facility.
With the StorInsure property policy you can purchase Limited Pollutant Removal coverage for this exposure. This coverage will pay the cost to remove pollutants from or detoxify a unit as required by law.
For those in need of an insurance policy for your self storage facility, contact StorInsure to begin building your policy and discuss your needs with our skilled team.
This page does not guarantee coverage or limits of the policy, please review your policy for full coverage details.
