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Bill for Self-Storage Insurance Licensing Resurrected in New York

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Senate Bill 7118, a bill clarifying the right of self-storage operators to offer point-of-rent tenant insurance, was introduced in New York on March 15 by Sen. Neil D. Breslin. SB 7118 authorizes the issuance of limited licenses to self-storage companies for sale of insurance coverage on personal property stored in self-service storage spaces. It has been referred to the Committee on Insurance. 

Last year similar legislation, Senate Bill 3477, was vetoed by the governor after passing the House and Senate. Technical corrections have been made to the new bill. The national Self Storage Association and New York Self Storage Association are working to get the legislation passed. 

The details of SB 7118 can be viewed at http://open.nysenate.gov/legislation/bill/S7118.

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