HI HB894

Exempts individuals from obtaining an insurance producer license if they only solicit stored property insurance in connection with self-service storage facility rentals under rental agreements not exceeding one year.

Requires that solicitors receive no commission for the stored property insurance they sell and that the insurance provider bears responsibility for the solicitor's actions.

Mandates written disclosure materials be provided to customers at time of solicitation stating that solicitors are unlicensed, the insurance is optional and not required by law, and may duplicate existing homeowners or renters insurance coverage.

Limits stored property insurance policies to a maximum insured value of $10,000 and defines stored property insurance as coverage for tangible personal property contained in or in transit to a self-service storage facility.

Takes effect on July 1, 2099.