Ind. Code § 27-1-16.1-1 Definitions
Sec. 1. The definitions in IC 27-1-15.6-2 apply throughout this chapter.
As added by P.L.81-2013, SEC.3.
Ind. Code ch. 27-1-16.1
Ind. Code ch. 27-1-16.1
in effectInd. Code § 27-1-16.1-2 "Customer"
Sec. 2. As used in this chapter, "customer" means a person that obtains the use of storage space from a self-storage facility under the terms of a self-storage rental agreement.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-3 "Insured customer"
Sec. 3. As used in this chapter, "insured customer" means a customer that purchases insurance under a self-storage insurance policy that is sold, solicited, or negotiated by a self-storage facility.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-4 "Self-storage facility"
Sec. 4. As used in this chapter, "self-storage facility" means a person that is engaged in the business of providing rented storage space to the public.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-5 "Self-storage insurance"
Sec. 5. (a) As used in this chapter, "self-storage insurance" means:
(1) insurance that provides insurance coverage for the loss of, or damage to, tangible personal property that is contained in storage space or in transit during a self-storage rental agreement period; or
(2) other coverage that the commissioner approves in connection with the rental of storage space.
(b) The term does not include any of the following:
(1) A homeowner's insurance policy.
(2) A renter's insurance policy.
(3) A private passenger motor vehicle insurance policy.
(4) An insurance policy that provides coverage similar to the insurance provided by a policy described in subdivisions (1) through (3).
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-6 "Self-storage rental agreement"
Sec. 6. As used in this chapter, "self-storage rental agreement" means a written agreement containing the terms and conditions governing the use of storage space provided by a self-storage facility.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-7 "Supervising entity"
Sec. 7. As used in this chapter, "supervising entity" means a business entity that:
(1) supervises the activities of a self-storage facility related to a self-storage insurance policy;
(2) is an:
(A) insurer; or
(B) insurance producer;
that is licensed under this title; and
(3) issues, or is appointed by an insurer that issues, the self-storage insurance policy.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-8 Limited lines producer's license required; training and limits on employee and authorized representative conduct
Sec. 8. (a) A self-storage facility shall not sell, solicit, or negotiate self-storage insurance unless the self-storage facility holds a limited lines producer's license issued under IC 27-1-15.6-18 to sell, solicit, or negotiate self-storage insurance.
(b) A limited lines producer's license required by subsection (a) authorizes each of the following to sell, solicit, or negotiate self-storage insurance to a customer at each of a self-storage facility's locations in Indiana:
(1) The self-storage facility.
(2) Each of the self-storage facility's employees or authorized representatives, regardless of whether the employee or authorized representative is individually licensed under IC 27-1-15.6, if the insurer that issues the self-storage insurance directly supervises or appoints a supervising entity to supervise:
(A) the administration of the self-storage insurance sold by the self-storage facility; and
(B) a training program for the employees and authorized representatives.
(c) The following apply to a training program described in subsection (b):
(1) The training must be provided to any employee or authorized representative who is directly engaged in the sale, solicitation, or negotiation of self-storage insurance.
(2) Initial training of an employee or authorized representative:
(A) must be provided before the employee or authorized representative engages in the sale, solicitation, or negotiation of self-storage insurance; and
(B) may be provided in electronic form or another form.
(3) Continuing training of an employee or authorized representative:
(A) must be provided on a periodic basis; and
(B) may be provided in electronic form or another form.
(4) The training must be developed and overseen by employees of the supervising entity who are licensed as insurance producers under IC 27-1-15.6 with the qualifications described in IC 27-1-15.6-7(a)(3) and IC 27-1-15.6-7(a)(4).
(5) The training must provide basic instruction concerning the:
(A) self-storage insurance offered to customers of the self-storage facility; and
(B) disclosures required by section 10 of this chapter.
(d) An employee or authorized representative of a self-storage facility shall not:
(1) sell, solicit, or negotiate self-storage insurance except in connection with and incidental to the rental of storage space by the self-storage facility; or
(2) advertise or represent that the self-storage facility is an insurance producer other than a limited lines producer licensed under IC 27-1-15.6.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-9 Supervising entity registry
Sec. 9. (a) A supervising entity shall:
(1) maintain a registry of locations described in section 8(b) of this chapter; and
(2) make the registry available for examination by the commissioner during the supervising entity's regular business hours.
(b) The commissioner shall, at least ten (10) days before the examination is conducted, provide to a supervising entity written notice of an examination described in subsection (a).
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-10 Written disclosures and information
Sec. 10. (a) A self-storage facility shall, at each location where self-storage insurance is sold, solicited, or negotiated, make available to customers written materials concerning the self-storage insurance.
(b) The written materials available under subsection (a) must do all the following:
(1) Disclose that self-storage insurance may duplicate coverage already provided under a customer's homeowner's insurance policy, renter's insurance policy, or other coverage.
(2) State that if insurance is required as a condition of a self-storage rental agreement, the requirement may be satisfied by the customer's:
(A) purchase of self-storage insurance that is sold, solicited, or negotiated by the self-storage facility; or
(B) presentation to the self-storage facility of evidence of other applicable insurance coverage.
(3) Summarize the material terms of each self-storage insurance policy under which insurance is available from the self-storage facility, including all the following:
(A) The identity of the insurer that issues the self-storage insurance policy.
(B) The identity of any supervising entity.
(C) All costs related to the self-storage insurance policy.
(D) The amount of any applicable deductible.
(E) The benefits of the self-storage insurance.
(F) The key terms and conditions of coverage.
(4) Summarize the process for filing a claim.
(5) State that an insured customer may cancel the insured customer's coverage under the self-storage insurance policy at any time and the person who pays the premium will receive a refund of unearned premium.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-11 Evidence of coverage
Sec. 11. A self-storage facility, supervising entity, or insurer shall provide an evidence of coverage to each insured customer.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-12 Manner in which self-storage insurance may be sold
Sec. 12. Self-storage insurance may be sold:
(1) for any period; and
(2) under:
(A) an individual policy; or
(B) a group, commercial, or master policy issued to a self-storage facility to provide insurance for the self-storage facility's customers.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-13 Eligibility and underwriting standards
Sec. 13. The:
(1) insurer that issues a self-storage insurance policy; or
(2) supervising entity that supervises a self-storage facility with respect to a self-storage insurance policy;
shall establish eligibility and underwriting standards for each self-storage insurance policy that is sold, solicited, or negotiated by a self-storage facility.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-14 Charges for self-storage insurance; handling of funds; compensation
Sec. 14. The following apply to charges for self-storage insurance:
(1) The charges may be billed and collected by the self-storage facility.
(2) If the insurance cost is not included in the cost associated with the self-storage rental agreement, the insurance cost must be separately itemized on the insured customer's bill.
(3) If the insurance cost is included in the cost associated with the self-storage rental agreement, the self-storage facility shall clearly and conspicuously disclose to the insured customer that the self-storage insurance cost is included with the cost of the self-storage rental agreement.
(4) A self-storage facility that bills and collects the charges shall maintain collected funds in a segregated account unless the:
(A) insurer that issues the self-storage insurance policy authorizes the self-storage facility to hold the funds in an alternative manner; and
(B) self-storage facility remits the funds to the supervising entity less than sixty (60) days after the self-storage facility receives the funds.
(5) All funds received by the self-storage facility from an insured customer as payment for the purchase of coverage under a self-storage insurance policy are considered to be funds held in trust by the self-storage facility in a fiduciary capacity for the benefit of the insurer.
(6) A self-storage facility may receive from an insurer or a supervising entity compensation for billing and collection services. Compensation described in this subdivision may be dependent on the sale of self-storage insurance.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-15 Violations
Sec. 15. (a) This section supplements and does not limit the actions that may be taken by the commissioner for a violation under IC 27-1-15.6.
(b) If a self-storage facility or an employee or authorized representative of a self-storage facility violates this chapter, the commissioner may do any of the following:
(1) After notice and hearing, impose on the self-storage facility a civil penalty of at least fifty dollars ($50) and not more than ten thousand dollars ($10,000).
(2) After notice and hearing, impose other penalties that the commissioner considers necessary and reasonable, including:
(A) suspending the privilege of transacting self-storage insurance under this chapter at specific self-storage facility locations where violations have occurred; and
(B) suspending or revoking the ability of an individual employee or authorized representative to act under the self-storage facility's limited lines producer's license.
As added by P.L.81-2013, SEC.3.
Ind. Code § 27-1-16.1-16 Application for limited lines producer's license
Sec. 16. (a) A self-storage facility shall apply for a limited lines producer's license required by this chapter by filing a sworn application for the license with the commissioner on forms prescribed and furnished by the commissioner.
(b) An application filed under subsection (a) must include the following information:
(1) The name, residence address, and other information required by the commissioner for an employee or officer of the self-storage facility who is designated by the self-storage facility as the individual who is responsible for the self-storage facility's compliance with this chapter.
(2) The physical address of the self-storage facility's home office.
As added by P.L.81-2013, SEC.3.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/27Fetched: 10/17/2026