Businesses that provide self-service storage for rent or lease must have a Self-Service Storage license if they want to sell insurance coverage to customers.
The two-year license expires on the last day of the same month in which the license is issued.
The initial cost of a license is $200.
Applying for a license
All license and renewal applications are to be submitted through NIPR.com.
You must provide written material about self-service storage insurance to prospective customers. The material must disclose the following:
- Self-service storage insurance coverage may duplicate coverage already held by the customer, including homeowners insurance or renters insurance.
- The customer is not required to have self-service storage insurance coverage to lease storage space. Or, if insurance is required, the occupant may satisfy the requirement by providing proof of coverage from another source.
- The material terms of coverage, including:
- The identity of and contact information for the insurer that issued the insurance policy.
- The amount of any applicable deductible and how the deductible is required to be paid when a claim is made.
- How to file a claim.
- List of all costs to the occupant.
- The benefits of coverage.
- The customer may cancel the self-service storage insurance coverage at any time and that the person paying the premium shall receive a refund of the unused portion of any amount that has been paid for coverage. A reasonable administrative fee of up to 10 percent of the refund due may be charged.
The employee training syllabus must also be filed with the Insurance Division with the application.
You must update the Insurance Division with your contact information any time a change is made. Complete information must be submitted bi-annually at renewal. The update must include:
- The name and street address of an employee, agent, or authorized representative the facility designates as responsible for compliance with the requirements of the license.
- The name and address in Oregon of a person the facility designates as the agent who may be served (ORS 59.155) at any time in any civil proceeding involving self-service storage insurance coverage. This includes a proceeding brought by the director of the Department of Consumer and Business Services.