Montana Code 33-24-304. Brochures and materials explaining self-storage coverage
33-24-304. Brochures and materials explaining self-storage coverage. (1) At each location where self-storage insurance coverage is offered to renters, written or electronic brochures or materials must be made available to renters that:
Terms Used In Montana Code 33-24-304
- Location: means any physical location in this state. See Montana Code 33-24-302
- Operator: means a business entity that is the owner, operator, lessor, or sublessor of a self-storage facility or an agent or another person authorized to manage the facility or to receive rent from a renter under a rental agreement. See Montana Code 33-24-302
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
- Renter: means a person entitled to the use of a leased space at a self-storage facility under a rental agreement or the person's successors or assigns. See Montana Code 33-24-302
- Self-storage facility: means real property consisting of individual storage spaces in which a renter customarily stores and removes personal property on a self-service basis. See Montana Code 33-24-302
- Self-storage insurance: means insurance offered in connection with and incidental to the rental of a leased space at a self-storage facility and which provides coverage to renters for the loss of or damage to personal property occurring at the facility or when the property is in transit to or from the facility during the term of the rental agreement. See Montana Code 33-24-302
- Supervising entity: means a business entity that is a licensed insurer or insurance producer that is authorized by a licensed insurer to supervise the administration of a self-storage insurance program. See Montana Code 33-24-302
(a)disclose that self-storage insurance may provide a duplication of coverage already provided by a renter‘s homeowner’s insurance policy, renter’s insurance policy, or other source of coverage;
(b)state that the enrollment by the renter in a self-storage insurance program offered by the operator is not required in order to rent a leased space at the self-storage facility;
(c)provide a copy of the actual self-storage insurance coverage, or summarize the material terms of the insurance coverage, including:
(i)the identity of the insurer;
(ii)the identity of the supervising entity, if different from the insurer;
(iii)the amount of any applicable deductible and how it is to be met;
(iv)benefits of the coverage; and
(v)key terms and conditions of the coverage;
(d)summarize the process for filing a claim; and
(e)state that a renter that purchases self-storage insurance coverage may cancel the coverage at any time and that the person paying the premium must receive a refund of any applicable unearned premium.
(2)The written or electronic brochures or materials required by this section are not subject to filing with or approval by the commissioner.