Self-storage facilities are facing an increasing array of environmental exposures
including mold, clandestine methamphetamine labs, and illicit abandonment of unknown
materials. Many self-storage facilities operate without insurance protection from
environmental risks because these risks have been excluded from conventional insurance
policies. Until recently, environmental insurance coverage has been considered to
be uneconomical, complicated and burdensome to obtain.
Ponderosa has worked with insurance companies to create a solution that helps protect
self-storage facilities. This coverage is designed to protect from the uncertainty
of potential environmental liabilities associated with owning or operating self-storage
facilities.
There are two coverage options available to help manage these environmental exposures.
Option #1.
Coverage only for illicit Abandonment & Mold
 |
Limit of $500,000 |
|
$2,500 Deductible to apply for illicit abandonment of materials or methamphetamine labs coverage |
|
$5,000 Deductible to apply for mold coverage |
|
Annual premium of $.40 cents per room subject to a minimum annual premium of $75 shall apply to each self-storage facility |
|
Policy term up to 12 months |
Option #2. Coverage for claims as a result of Bodily Injury, Property
Damage and Remediation Costs related to Pollution incidents, Illicit Abandonment
and Mold
|
Limit of $500,000 |
|
$2,500 Deductible to apply for illicit abandonment of materials or methamphetamine labs coverage |
|
$5,000 Deductible to apply for mold coverage and other pollution incidents |
|
Annual premium of $1 per room subject to a minimum annual premium of $150 shall apply to each self-storage facility |
|
Policy term up to 12 months |
For more information, please contact
kcollins@ponderosainsurance.com or
pfenton@ponderosainsurance.com
Underwritten by Chubb Custom Insurance Company, a member of the Chubb Group of Insurance
Companies, rated AA by Standard & Poors and A++ by A. M. Best