This text of North Dakota § 26.1-26.9-03 (Sale of self-service storage insurance - Requirements) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. At every location where self-service storage insurance is offered to occupants, the
owner shall make available to occupants brochures or other written or electronic
materials that:
a. Disclose that self-service storage insurance may provide a duplication of
coverage already provided by an occupant's homeowner's insurance policy,
renter's insurance policy, or other source of coverage.
b. State the purchase by the occupant of the self-service storage insurance offered
by the owner is not required to lease a space at the self-service storage facility.
c. Provide the actual terms of the self-service storage insurance coverage, or
summarize the material terms of the insurance coverage, including:
(1)The identity of the insurer;
(2)The identity of the supervising entity;
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1. At every location where self-service storage insurance is offered to occupants, the
owner shall make available to occupants brochures or other written or electronic
materials that:
a. Disclose that self-service storage insurance may provide a duplication of
coverage already provided by an occupant's homeowner's insurance policy,
renter's insurance policy, or other source of coverage.
b. State the purchase by the occupant of the self-service storage insurance offered
by the owner is not required to lease a space at the self-service storage facility.
c. Provide the actual terms of the self-service storage insurance coverage, or
summarize the material terms of the insurance coverage, including:
(1) The identity of the insurer;
(2) The identity of the supervising entity;
(3) The amount of any applicable deductible and how the deductible is to be
paid;
(4) Benefits of the coverage; and
(5) Key terms and conditions of the coverage.
d. Summarize the process for filing a claim.
e. State an occupant that purchases self-service storage insurance may cancel
enrollment for the occupant's coverage at any time, and the person paying the
premium shall receive a refund of any applicable unearned premium.
2. The written materials required by this section are not subject to filing or approval
requirements with the commissioner.
3. Self-service storage insurance may be provided under an individual policy or a
commercial, corporate, group, or master policy. Form, policy, and rate filings for
self-service storage insurance must be made with the commissioner in accordance
with this chapter and section 26.1-30-19.
4. Eligibility and underwriting standards for occupants electing to purchase self-service
storage insurance coverage must be established for the self-service storage insurance
program.
5. The owner is exempt from the examination and education requirements in chapter
26.1-26.