Indiana Code 27-1-16.1-10. Written disclosures and information
(b) The written materials available under subsection (a) must do all the following:
Terms Used In Indiana Code 27-1-16.1-10
- customer: means a person that obtains the use of storage space from a self-storage facility under the terms of a self-storage rental agreement. See Indiana Code 27-1-16.1-2
- 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.
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- insured customer: means a customer that purchases insurance under a self-storage insurance policy that is sold, solicited, or negotiated by a self-storage facility. See Indiana Code 27-1-16.1-3
- insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
- person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
- premium: means money or any other thing of value paid or given in consideration to an insurer, insurance producer, or solicitor on account of or in connection with a contract of insurance and shall include as a part but not in limitation of the above, policy fees, admission fees, membership fees and regular or special assessments and payments made on account of annuities. See Indiana Code 27-1-2-3
- self-storage facility: means a person that is engaged in the business of providing rented storage space to the public. See Indiana Code 27-1-16.1-4
- self-storage insurance: means :
Indiana Code 27-1-16.1-5
- self-storage rental agreement: means a written agreement containing the terms and conditions governing the use of storage space provided by a self-storage facility. See Indiana Code 27-1-16.1-6
- supervising entity: means a business entity that:
Indiana Code 27-1-16.1-7
(2) State that if insurance is required as a condition of a self-storage rental agreement, the requirement may be satisfied by the customer’s:
(A) purchase of self-storage insurance that is sold, solicited, or negotiated by the self-storage facility; or
(B) presentation to the self-storage facility of evidence of other applicable insurance coverage.
(3) Summarize the material terms of each self-storage insurance policy under which insurance is available from the self-storage facility, including all the following:
(A) The identity of the insurer that issues the self-storage insurance policy.
(B) The identity of any supervising entity.
(C) All costs related to the self-storage insurance policy.
(D) The amount of any applicable deductible.
(E) The benefits of the self-storage insurance.
(F) The key terms and conditions of coverage.
(4) Summarize the process for filing a claim.
(5) State that an insured customer may cancel the insured customer’s coverage under the self-storage insurance policy at any time and the person who pays the premium will receive a refund of unearned premium.
As added by P.L.81-2013, SEC.3.