StorageOne Forcing Insurance

Background: Obtained a 10x15 storage rental unit in Las Vegas, NV. Prepaid for 2 years. (didn't want their games of raising prices).

Just received a letter that seems like BS to me. To summarize it:

They are reminding their customers of the insurance policy "requires tenants to carry insurance on their stored items.". If you don't contact them by Nov 1, 2010, they are going to enroll you in the Bader insurance program and start adding $8 premium to the monthly payment. However, if you homeowners or renters insurance covers the stored items and you don't want to participate then you must fax, mail, email or hand deliver a certificate of insurance or declarations page to their office before Nov 1, 2010. They end the sentence with "Although effective November 1, 2010 all tenants are required to provide proof of insurance coverage for their stored items."

Here's what they reference in the contract (paragraph 13):

"Lessee acknowledges that lessor does not carry any insurance for the lessee's stored property, lessee is advised, and at lessee's expense, agrees to maintain a policy of fire, extended coverage endorsement, burglary, vandalism and malicious mischief insurance for actual cash value of stored property. The Nevada Legislature has declared that such insurance is available through most insurers. Lessee expressly agrees that lessee's insurance carrier shall not be subrogated to any claim of lessee against lessor, or lessor's agents, or employees for any liability released herein."

Nowhere in there does it state that a lessee must provide proof of insurance to the lessor. Also, I have no monthly payments because everything is prepaid.

What kind of scam is this. I'm tired of everyone wanting to force people to buy insurance or other products they don't have any interest in. Can they legally do this or can I ignore it and if they try to charge me or do something with my items they will loose in court?

Thanks

dfatfa said:

Here's what they reference in the contract (paragraph 13):

"Lessee acknowledges that lessor does not carry any insurance for the lessee's stored property, lessee is advised, and [highlight]at lessee's expense, agrees to maintain[/highlight] a policy of fire, extended coverage endorsement, burglary, vandalism and malicious mischief insurance for actual cash value of stored property. The Nevada Legislature has declared that such insurance is available through most insurers. Lessee expressly agrees that lessee's insurance carrier shall not be subrogated to any claim of lessee against lessor, or lessor's agents, or employees for any liability released herein."

Nowhere in there does it state that a lessee must provide proof of insurance to the lessor.

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True, it does not require you to provide them with proof of insurance, but it clearly requires you to have it, and pay for it yourself. So, all they need do is sue you, at which point the court is going to say "provide the proof or lose". Then you run the risk of having to pay court costs and attorneys' fees on top of the cost of the insurance.

So, the $1,000,000 Question - do you actually have insurance?

I'd send them the DEC sheet of your Homeowner's Policy with your acount number and all premiums whited-out, as well as endorsements, that are none of their business (additional jewelry, etc).

Better yet, you can ask your homeowner's insurance company to send them a letter than you have off-premise contents coverage with your homeowner's policy since it sounds like they're only interested in content coverage and not liability insurance.

Country Living said:

I'd send them the DEC sheet of your Homeowner's Policy with your acount number and all premiums whited-out, as well as endorsements, that are none of their business (additional jewelry, etc).

Better yet, you can ask your homeowner's insurance company to send them a letter than you have off-premise contents coverage with your homeowner's policy since it sounds like they're only interested in content coverage and not liability insurance.

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That's what I'll do - the insurance company confirms the personal property coverage includes items in storage.

You Are Guilty said:

True, it does not require you to provide them with proof of insurance, but it clearly requires you to have it, and pay for it yourself. So, all they need do is sue you, at which point the court is going to say "provide the proof or lose". Then you run the risk of having to pay court costs and attorneys' fees on top of the cost of the insurance.

So, the $1,000,000 Question - do you actually have insurance?

Click to expand...

yes, homeowners insurance personal property includes items in storage. it's the whole point of the way these shysters work.

I don't doubt it, but why make a mountain out of a molehill? Send them a redacted copy of your dec sheet leaving the ACV coverage readable. Problem solved.