RENTER ELECTION RELATED TO RISK OF LOSS
Renter understands that Company and Company’s Agents are not insurance agents. Neither the Company nor the Company Agents have explained any coverage or assisted Renter in making any choices regarding coverage under any insurance policy.
Insurance and Renter’s Risk of Loss: ALL PROPERTY IS STORED BY RENTER IN THE UNIT AT RENTER’S SOLE RISK. UNLESS OTHERWISE ELECTED, ALL INSURANCE IS RENTER’S SOLE RESPONSIBILITY. Renter may obtain insurance from an insurance company of Renter’s choice. Renter agrees to insure the actual full value of the stored property. COMPANY ASSUMES NO LIABILITY AND SHALL NOT BE LIABLE FOR ANY DAMAGE TO OR LOSS OF PROPERTY STORED IN THE UNIT. All risk of loss, including but not limited to damage or theft of a tenant’s property due to burglary, disappearance, fire, water, wind, hurricanes, mold, rodent damage, earthquakes, acts of God, vandalism or other damages are at Tenant’s sole risk. Renter expressly agrees that the carrier of any insurance obtained by Renter shall not be subrogated to any claim of Renter against Company or Company’s officers, agents, affiliates, authorized representatives and employees (Company Agents).
Insurance and UNITS’ Risk of Loss: AGREEMENT: Subject to all terms and conditions of the policy, we shall pay for loss to covered property stored or transported in containers leased from UNITS provided such loss arises from a covered cause of loss.
DEDUCTIBLE: RenteroftheUnitwillberesponsibleforadeductibleperoccurrenceof$100forallcoveredperilsunderthisinsurancesectionwiththe exceptionofalllossesasaresultofaNamedStormasassignedbytheWorldMeteorologicalOrganizationwhichwillbesubjecttoa $2,500deductible.
COVERED CAUSES OF LOSS: Unless the loss is otherwise excluded, we will only pay for Loss to covered property resulting from: Fire Or Lightning; Windstorm Or Hail but not loss caused by rain, snow, sleet, sand or dust unless the direct force of wind or hail damages the container causing an opening in a roof or wall and the rain, snow, sleet, sand or dust enters through this opening; Explosion; Riot Or Civil Commotion; Aircraft or Vehicles; Smoke; Vandalism and Malicious Mischief; Weight Of Ice, Snow Or Sleet; Accidental Discharge or Overflow Of Water Or Steam from plumbing, heating, air conditioning or automatic fire protective sprinkler system; Falling Objects, but only if the roof or an outside wall of the container is first damaged by the falling object; Burglary, excluding on the customer storage site, with evidence of forcible break in and entry; Collapse of the container or of a building onto the container but only if the collapse was caused by a covered cause of loss; Federally Certified Acts of Terrorism (but not to include acts of chemical, biological and nuclear terrorism); and Collision, upset or overturn while the covered property is in transit to or from the Named Insured’s storage facility or the tenant’s designated location or at the tenant’s origination or destination location; any negligent acts by us or our representatives in the handling of the container.
PROPERTY NOT COVERED: The following is not covered property and we do not pay for loss to any of the following types of personal property: money, banknotes, scrip, securities, accounts, deeds and evidences of debt; letters of credit and notes other than bank notes; bullion, gold, goldware, silver, silverware, platinum, coins, precious medals and pewter; stored value cards and smart cards; manuscripts, personal records, photos, passports, tickets and stamps; jewelry, watches, furs, precious and semiprecious stones firearms; animals, birds and fish; aircraft, hovercraft, motor vehicles and engines, trailers; property not owned by the tenant or for which you are not legally liable; computer software or programs, media or computer data contained on hard disks or drives; any items ineligible or unsuitable by the Contract.
EXCLUSIONS: We will not pay for loss caused directly or indirectly by any of the following; regardless of any other cause or event contributing concurrently or in any sequence to loss: (1)Ordinance or law regulating demolition, cleanup or removal of pollutants; (2)Earth Movement, meaning: earthquake, land shock, waves or tremors; volcanic eruption; landslide, mudslide and mud flow including earth shrinking, rising or shifting; or earth sinking, sink hole collapse, subsidence, rising or shifting including soil conditions which cause settling, cracking or other disarrangement of foundations or other parts of realty. Soil conditions include contraction, expansion, freezing, thawing, erosion, improperly compacted soil and the action of water under the ground surface. (3)Water Damage, meaning: flood, surface water, waves, tidal water, overflow of a body of water, or their spray, all whether driven by wind or not; or mudslide or mudflow; water or water-borne material which backs up from a sewer or drain or which overflows or is discharged from a sump, sump pump or related equipment; or water or water-borne material under the ground surface, including water which exerts pressure on, flows, seeps or leaks through a foundation, wall, floor, ceiling, porch, sidewalk, driveway, swimming pool, paved surface, basement, door, window or other opening; (4)War, civil war, insurrection, military action, discharge of any biological or chemical agent or a nuclear weapon, nuclear reaction, radiation, or radioactive contamination; (5)Intentional Acts by or at the tenant’s direction with the intent to cause loss or damage; even if the person committing the act is insane, intoxicated or otherwise impaired; (6)Destruction, confiscation or seizure of property by order of any governmental or public authority; (7)Presence, growth, proliferation or spread of mold, fungus, wet rot, mildew, bacteria, rust, corrosion, dampness, dryness, contamination, spoilage, decay or any expense for testing, monitoring, abatement, mitigation, removal, remediation, restoration, neutralization, detoxification or disposal of such; (8)Wear and Tear, marring and scratching, deterioration, hidden or latent defect; nesting or infestation, or discharge or release of waste products or secretions, by insects, birds, rodents or other animals; (9)Chemical, biological and nuclear terrorism and acts other than Federally Certified Acts of Terrorism; (10) loss occurring prior to or after the Coverage Period; (11) loss occurring prior to or after termination of the Contract; (12) Burglary or theft of your property that is not in the care, custody, or control of the Named Insured at the time of loss, is specifically excluded from this coverage.
DUTIES IN THE EVENT OF LOSS: You or the tenant shall see that the following are done in the event of loss or damage to Covered Property: (1) Notify the police if a law may have been broken, (2) Give us prompt notice of the loss or damage including a description of the property involved, (3) As soon as possible, give us a description of how, when and where the loss or damage occurred, and (4) Take all reasonable steps to protect the Covered Property from further damage, and keep a record of expenses necessary to protect the Covered Property, for consideration in the settlement of the claim. This will not increase the Limit of Insurance. However, we will not pay for any subsequent loss or damage resulting from a cause of loss that is not a Covered Cause of Loss. Also, if feasible, set the damaged property aside and in the best possible order for examination, (5) except at such party’s own cost, not voluntarily make a payment, assume any obligation, or incur any expense without our consent, (6) As often as may be reasonably required, permit us to inspect the property proving the loss or damage and examine relevant books and records. Also permit us to take samples of damaged and undamaged property for inspection, testing and analysis, and permit us to make copies from books and records, (7) We may examine you or the tenant under oath at such times as may be reasonably required, about any matter relating to this insurance or the claim, including an insured’s books and records. In the event of an examination, all answers must be signed, (8) Send us a signed, sworn proof of loss containing the information we request to settle the claim. You or the tenant must do this within 60 days after our request. We will supply the necessary forms, (9) Immediately send us copies of any demands, notices, summonses or legal papers received in connection with the claim or suit, and (10) Cooperate with us in the investigation or settlement of the claim.
SETTLEMENT OPTIONS: Our liability shall not exceed the lesser of the following amounts after deduction of any amounts paid by a third party, and less the applicable deductible: (a.) the replacement cost value; (b.) Tenant’s interest in the covered property; (c.) the Tenant’s Declared Value; or (d.) the Limit of Insurance. If Tenant’s Declared Value is less than ninety (90%) of the replacement cost value, all loss settlement payments shall be reduced proportionately based upon the relationship that the Tenant’s Declared Values bears to ninety (90%) of the replacement cost value. If property is recovered for which we have made payment, we are to be notified of such recovery. At our option, we may retain such property but there shall be no abandonment of property to us. If there is damage to the covered property caused by more than one loss, each loss shall be adjusted separately, and the applicable deductible amount shall be applied separately to each loss. At our option, we may pay the loss in money, or we may repair or replace the damaged or stolen covered property. In the event of a total loss, we may require assignment of title to us . In case of loss or damage to any part of a pair or set we may: repair or replace any part to restore the pair or set to its value before the loss or damage; or pay the difference between the value of the pair or set before and after the loss or damage. In case of loss or damage to any part of Covered Property consisting of several parts when complete, we will only pay for the value of the lost or damaged part.
LOSS PAYMENT: We will give notice of our intention within 30 days after we receive the sworn proof of loss. We will not pay more than party’s financial interest in the covered property. Payment shall be made to Tenant as Loss Payee unless covered property is identified as owned by others. We will adjust losses with owners of lost or damaged property if other than Tenant. If we pay owners, such payments will satisfy all claims against us for owners’ property. We will not pay the owners more than their financial interest in the Covered Property. We may elect to defend Tenant against suits arising from claims of owners of property. We will do this at our expense. We will pay for covered loss or damage within 30 days after we receive the sworn proof of loss if there has been compliance with all the terms of the policy and: we have reached agreement on the amount of the loss; or an appraisal award has been made. We will not be liable for any part of a loss that has been paid or made good by others.