                                 CODE OF VIRGINIA

REQUIREMENTS FOR SALE OF SELF STORAGE INSURANCE (§ 38.2-1883)

A. At every location where self storage insurance is offered to customers, the
lessor shall make available to a prospective customer brochures or other written
materials that:

   1. Disclose that self storage insurance may provide a duplication of coverage
   already provided by a customer&#8217;s homeowners insurance policy,
   renter&#8217;s insurance policy, or other source of coverage;

   2. State that the purchase of coverage by a customer of self storage insurance
   is not required in order to lease a self storage unit;

   3. Summarize the material terms of the insurance coverage, including (i) the
   identity of the insurer; (ii) the amount of any applicable deductible and how
   it is to be paid; (iii) benefits of the coverage; and (iv) key terms and
   conditions of coverage; and

   4. Summarize the process for filing a claim, including proof of loss
   requirements.

B. Self storage insurance may be offered on a month-to-month or other periodic
basis as an individual policy or a group or master policy issued to a lessor
under which the individual customer may elect to purchase coverage.

HISTORY: 2013, c. 203.