SELF-SERVICE STORAGE INSURANCE

RSA tit. XXXVII, ch. 402-O

in effect

RSA 402-O:1 Definitions.

402-O:1. Definitions. In this chapter: I. "Commissioner" means the insurance commissioner. II. "Location" means any physical location in the state of New Hampshire. III. "Owner" means a business entity that is the owner, lessor, or sublessor of a self-service storage facility, the owner's agent, or any other person authorized by the owner to manage the facility, or to receive rent from a renter. The owner may be a resident or non-resident of this state. IV. "Personal property" means movable property not affixed to land. V. "Rental agreement" means any written agreement that establishes or modifies the terms, conditions, or rules concerning the use and occupancy of a rented space at a self-service storage facility. VI. "Renter" means a person, or any agent or representative of the person, entitled to the use of rented space at a self-service storage facility under a rental agreement to the exclusion of others. VII. "Self-service storage facility" means any real property designed and used for the purpose of renting or leasing individual storage space in which the renters themselves customarily store and remove their own personal property on a self-service basis. A self-service storage facility is not a warehouse as the term "warehouse" is used in RSA 382-A:7-102. VIII. "Self-service storage insurance" means personal property insurance offered in connection with and incidental to the rental of a rented space at a self-service storage facility and which provides coverage to renters for the loss of or damage to personal property occurring at the facility or when the property is in transit to or from the facility during the period of the rental agreement. IX. "Supervising entity" means a business entity that is a licensed admitted insurer or insurance producer licensed under RSA 402-J that is appointed or authorized by an insurer to supervise the administration of a self-service storage insurance program. Source. 2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.

RSA 402-O:2 Licensure of Owners.

402-O:2. Licensure of Owners. I. An owner shall hold a limited lines license to sell or offer coverage for self-service storage insurance at any location in this state. An owner is not required to hold a license solely to display and make available to renters and prospective renters brochures and other promotional materials created by or on behalf of an authorized insurer or surplus lines insurer. II. A limited lines license issued under this chapter shall authorize the owner and the employees and authorized representatives of the owner to sell and offer coverage for self-service storage insurance to renters at each location at which the owner conducts business. III. The supervising entity shall maintain a registry of each location at which the owner sells or offers self-service storage insurance in this state. IV. Notwithstanding any other provision of law, a license issued pursuant to this chapter shall authorize the licensee and its employees and authorized representatives to engage in those activities that are permitted in this chapter. V. Owners, and their employees and authorized representatives, are exempt from all examination and education requirements under RSA 402-J in regard to self-service storage insurance. Source. 2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.

RSA 402-O:3 Marketing Requirements for Sale of Self-Service Storage Insurance.

402-O:3. Marketing Requirements for Sale of Self-Service Storage Insurance. I. An owner shall not offer or sell insurance under this section unless: (a) The owner provides to the renter written notice that: (1) Summarizes the material terms of insurance coverage offered to renters, including the identity of the insurer, premium amount, benefits, exclusions, and conditions. (2) Discloses that the policies offered by the owner may provide a duplication of coverage already provided by a renter's homeowner's insurance policy, residential renter's insurance policy, vehicle insurance policy, watercraft insurance policy, or other source of property insurance coverage and that no liability coverage is provided by the insurance coverage. This disclosure shall be displayed prominently in 12-point type or capital letters and shall read as follows: Your renters' or homeowners' policy may provide the insurance you need. Check with your insurance agent to determine if your personal property stored at a location other than your home or business is covered. (3) States that if insurance is required as a condition of rental, the requirement may be satisfied by the renter purchasing the insurance described in this section or by presenting evidence of other applicable insurance coverage. (4) Describes the process for filing a claim. (b) All costs related to the insurance are stated in writing. (c) Evidence of coverage in a form developed by the insurer or supervising entity is provided to every renter who purchases the coverage. (d) The insurance is provided by an insurer authorized to transact the applicable kinds of insurance in this state. II. Self-service storage insurance may be offered on a month-to-month or other periodic basis under an individual policy or a group or master commercial policy coverage with limits not exceeding $10,000 in aggregate. All self-service storage insurance policy forms, endorsements, and other contract language shall be submitted pursuant to RSA 412:5, II. RSA 412:5, VI shall not apply to self-service storage insurance regardless of the type of insurance. Source. 2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.

RSA 402-O:4 Authority of Owners.

402-O:4. Authority of Owners. I. The employees and authorized representatives of owners may sell and offer self-service storage insurance to renters and shall not be subject to licensure as an insurance producer under this chapter provided that: (a) The owner obtains a limited lines license to authorize its employees and authorized representatives to sell and offer self-service storage insurance pursuant to this chapter. (b) The insurer issuing the self-service storage insurance either directly supervises or appoints a supervising entity to supervise the administration of the program, including development of a training program for employees and authorized representatives of the owners. The training required by this section shall comply with the following: (1) The training shall be delivered to the employees and authorized representatives who are directly engaged in the activity of selling and offering self-service storage insurance. (2) The training may be provided in electronic form. However, if conducted in electronic form the supervising entity shall implement a supplemental education program regarding the self-service storage insurance that is conducted and overseen by a licensed producer. (3) Each employee and authorized representative who is directly engaged in the activity of selling and offering self-service storage insurance shall receive basic instruction about the self-service storage insurance offered to renters and the disclosures required under RSA 402-O:3. (4) The training program shall be submitted to the commissioner for approval. (c) No employee or authorized representative of an owner shall advertise, represent, or otherwise hold himself or herself out as a non-limited lines licensed insurance producer, unless otherwise licensed. II. The charges for self-service storage insurance coverage may be billed and collected by the owner and its employees and authorized representatives. Owners billing and collecting such charges shall not be required to maintain such funds in a segregated account provided that the owner is authorized by the insurer or supervising entity to hold such funds in an alternative manner and remits such amounts to the insurer or supervising entity within 60 days of receipt. All premiums received by an owner from a renter for the sale of self-service storage insurance shall be considered funds held by the owner in a fiduciary capacity for the benefit of the insurer. An owner may receive compensation for billing and collection services. Source. 2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.

RSA 402-O:5 Application for License.

402-O:5. Application for License. I. A sworn application for a license under this chapter shall be made to and filed with the commissioner on forms prescribed and furnished by the commissioner. The applicant may be a resident or non-resident of this state. II. The application shall provide: (a) The name, residence address, and other information required by the commissioner for an authorized representative of the owner or supervising entity that is designated by the applicant as the person responsible for the owner's compliance with the requirements of this chapter. However, if the owner derives more than 50 percent of its revenue from the sale of self-service storage insurance the information noted above shall be provided for all officers, directors, and shareholder of record having beneficial ownership of 10 percent or more of any class of securities registered under the federal securities law; and (b) The location of the owner's home office. III. Any owner engaging in self-service storage insurance transactions on or before the effective date of this chapter shall apply for licensure within 90 days of the application being made available by the commissioner. Any applicant commencing operations after the effective date of this chapter shall obtain a license prior to offering self-service storage insurance. IV. Initial licenses issued pursuant to this chapter shall expire on the second May 31 from the date of issue. Renewed licenses shall be effective for 2 years, expiring on May 31. V. Each owner licensed under this chapter shall pay a fee as determined by the commissioner provided that the fee shall not exceed $500 for an initial self-service storage insurance license and $250 for each license renewal. However, for an owner who sells self-service storage insurance at 10 or fewer locations in the state the fee shall not exceed $150 for an initial license and for each renewal of a license. VI. A self-service storage insurance license which lapses may, within 24 months from the due date of the renewal, be reinstated with a penalty in the amount of double the unpaid renewal fee for any renewal received after the due date pursuant to paragraph IV. Source. 2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.

Source: New Hampshire General Court (gc.nh.gov)URL: https://gc.nh.gov/rsa/html/NHTOC/NHTOC-XXXVII-402-O.htmFetched: 10/20/2026