Deans & Homer, a provider of specialty insurance products for the self-storage industry, is broadening is insurance-coverage options nationwide and reducing the rates on its self-storage policy program in California.
The company has filed a set of broadening coverage endorsements nationwide, expanding its program guidelines to include more ancillary services, such as mobile-storage operations and their consequential property and liability exposures. Also added are green property coverage and a new equipment-breakdown coverage, designed to address the unique risks of climate-controlled facilities. These additions should help self-storage operators respond to increasing insurance requirements made by lenders.
In addition, the company has received approval for a 9 percent property rate reduction for insured facilities in California on new and renewal policies beginning Dec. 1.
Deans & Homer has provided self-storage insurance products since 1974.