At every location at which stored property insurance is offered, brochures or other written or electronic materials shall be made available to occupants. The brochures or other written or electronic materials shall:

(1) Disclose that stored property 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;

Terms Used In Hawaii Revised Statutes 431:9A-173

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • License: means a document issued by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Hawaii Revised Statutes 431:9A-102
  • producer: means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance. See Hawaii Revised Statutes 431:9A-102
(2) State that purchase by the occupant of the stored property insurance offered by the owner is not required to rent storage space or that, if renting storage space does require the occupant to have property insurance, the occupant may satisfy the requirement by providing evidence that the occupant has coverage from another source of property insurance;
(3) Contain the actual material terms of the insurance coverage, or summarize the material terms of the insurance coverage, including:

(A) The identity of the insurer;
(B) The identity of the supervising entity; and
(C) The price, deductible, benefits, exclusions, and conditions or other limitations of the coverage;
(4) Summarize the process for filing a claim in the event the occupant elects to purchase coverage;
(5) Disclose that the employee of the self-service storage facility is not qualified or authorized to evaluate the adequacy of the occupant’s existing coverages, unless otherwise licensed;
(6) State that the occupant may cancel enrollment for coverage under a stored property insurance policy at any time and the person paying the premium shall receive a refund of any applicable unearned premium; and
(7) State that stored property insurance may also be purchased through licensed property and casualty producers, who may have more general knowledge and experience selling insurance and may better assist the occupant. Owners and employees selling stored property insurance under a limited lines license are not required to meet all of the requirements of a licensed insurance producer.

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