HB 430 Summary

• Establishes licensing requirements for self-service storage facilities offering insurance to customers, requiring them to obtain a "self-service storage insurance" limited lines license under section 3905.063.

• Allows unlicensed employees (endorsees) of self-service storage facilities to sell self-service storage insurance if the facility is properly licensed and a supervising entity provides training and oversight.

• Requires self-service storage facilities to disclose to customers that insurance may be optional, that coverage may duplicate existing homeowner's or renter's insurance, and that customers can cancel anytime for a refund.

• Mandates training programs for endorsees covering prohibited practices, including prohibitions against misrepresenting themselves as licensed agents or misleading customers about insurance requirements and their own qualifications to evaluate coverage.

• Sets application and renewal fees for self-service storage insurance licenses at not to exceed $10 for initial application and $25 for biennial renewal, and exempts these facilities from standard biennial renewal fees applicable to other insurance agents.