Self Storage Tenant Insurance Program
We understand that the personal property you store in your storage unit is valuable and important to you. However, our storage facility is not responsible for property stored at our facility. This is the reason our lease requires each tenant to maintain insurance coverage on their stored property.
Some, but not all, homeowners’ and renters’ insurance policies cover property stored in self-storage facilities. You should contact your insurance agent to confirm whether your insurance policy will cover the property you store at our facility, and also ask your agent about applicable policy deductibles and exclusions. Employees of our storage facility are not qualified or authorized to evaluate the adequacy of insurance provided by your homeowners’ or renter’s policy.
As a convenience, we make available to our tenants a Self Storage Tenant Insurance Program administered by Xercor Insurance Services LLC. This insurance coverage satisfies your lease obligations, and premiums are collected monthly when you pay the rent for your storage unit.
The Self Storage Tenant Insurance Program is underwritten by Old Republic Insurance Company, one of the most reputable carriers in the marketplace. Note that the operator may receive remuneration for its administrative services, such as assisting in enrolling the tenant in the Program and collecting the monthly premium, and affiliates of some owners or operators of certain facilities enrolled in the Program may own a de minimis (less than 4%) interest in the program administrator, Xercor, and in a reinsurance company that reinsures the risk assumed by the underwriter, Old Republic.
Again, you are not required to purchase insurance through the Xercor Program, but you are required to maintain insurance. Please see below for answers to Frequently Asked Questions about Xercor’s Self Storage Tenant Insurance Program.
Frequently Asked Questions About The Self Storage Tenant Insurance Program
Q: What levels of coverage are available under the Self Storage Tenant Insurance Program?
A: Three levels of coverage limits are offered under the Program: $3,000, $4,000 or $5,000. Monthly premiums are $12, $14 or $16, depending on the policy limit you choose.
Q: What losses does the Self Storage Tenant Insurance Program cover?
A: The Program protects your stored property against damage or loss from over thirty perils, including fire, lightning, windstorm, hail, tornados, hurricanes and other perils, like burglary and vandalism, all subject to a $100 deductible for each claim. For a complete list of covered causes of loss, see the sample certificate of insurance at one of our facilities. You can also obtain a copy of the insurance certificate by contacting the Program administrator, Xercor Insurance Services LLC, at 1-844-769-2904.
Q: What types of property does the Self Storage Tenant Insurance Program cover?
A: Most types of personal property are covered under the Program. However, there are some exclusions, such as firearms, photographic equipment, currency, contracts, securities, lottery tickets, precious metals, jewelry, watches, fur, food, alcohol and other specifically identified exclusions. To see a complete list of the property excluded, see the sample certificate at one of our facilities or call the Program administrator, Xercor Insurance Services LLC at 1-844-769-2904.
Q: Does the Program cover losses from flood, mold, rodents and vermin?
A: Yes, subject to the $100 deductible for each claim, the Program protects against all of these perils, but with the following sub-limits:
- $1,000 for loss or damage from flood
- $500 for mold, mildew, fungus, wet or dry rot damage
- $500 for vermin, rodents, moths or insect damage
Q: When does my coverage start? When does coverage expire?
A: Coverage begins when you complete and sign the Enrollment Form and pay the first month’s premium. Coverage ends when your rental agreement terminates or on the date specified in any notice you may receive for failure to pay your monthly premium.
Q: If I’m insured under the Program, how do I file a claim if I suffer a covered loss?
A: All claims for losses should be directed to the Program administrator, Xercor Insurance Services LLC, by calling 1-844-769-2904. You also may submit a claim through Xercor’s website, www.xercor.com.