Indiana Code 27-1-16.1-5. “Self-storage insurance”
Current as of: 2023 | Check for updates
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Sec. 5. (a) As used in this chapter, “self-storage insurance” means:
(2) other coverage that the commissioner approves in connection with the rental of storage space.
(1) insurance that provides insurance coverage for the loss of, or damage to, tangible personal property that is contained in storage space or in transit during a self-storage rental agreement period; or
Terms Used In Indiana Code 27-1-16.1-5
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- 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
- 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
(b) The term does not include any of the following:
(1) A homeowner’s insurance policy.
(2) A renter’s insurance policy.
(3) A private passenger motor vehicle insurance policy.
(4) An insurance policy that provides coverage similar to the insurance provided by a policy described in subdivisions (1) through (3).
As added by P.L.81-2013, SEC.3.