MO SB503

Self-service storage facility operators may offer and sell insurance covering loss or damage to personal property stored at their facilities, but only under the supervision of a licensed "limited lines self-service storage insurance producer"

Licensed insurance producers must maintain a register of all storage operators selling insurance on their behalf, including names, addresses, contact information, and federal tax identification numbers, and submit it within 30 days upon department request

Storage operators must provide customers with written materials disclosing that insurance purchase is not required to rent a unit, that unlicensed employees cannot answer technical insurance questions, and that coverage may duplicate existing homeowner's or renter's insurance

Unlicensed storage facility employees may provide general information about coverage and pricing and process applications, but cannot evaluate policy terms, advise on existing coverage, or hold themselves out as insurance experts

The Director of Insurance may promulgate rules to implement the section, with any rules adopted after August 28, 2015 subject to standard rulemaking procedures under Chapter 536