HB419 Summary

• Clarifies that self-service storage facilities are not engaged in the insurance business when providing coverages for personal property incidental to storage rental under existing law.

• Adds "self-service storage facility insurance" to the definition of limited lines insurance under Section 27-7-1 of the Code of Alabama 1975.

• Creates a limited license for self-service storage facility owners to sell insurance related to rental of storage space, covering loss or damage to stored personal property and other losses directly related to rental agreements.

• Exempts limited licensees from the 40-hour pre-qualification course, written examination requirements, and continuing education requirements that normally apply to insurance agents.

• Requires limited licensees to provide written disclosures to occupants about coverage terms, insurer identity, potential duplication of coverage, claim procedures, and that insurance purchase is not required to rent storage space.