Nearly every insurance policy contains an “other insurance” clause.  The “other insurance” exclusions are applicable when two or more insurance policies are on the same subject matter, risk and interest.  The “other Insurance” provision is to address the situation where an insured has multiple polices that insure the same risk.

This problem arises in self storage when a customer buys an insurance policy from an operator and they either have another policy covering the same risk and exposures or at some point in the future purchase a policy that covers the same risk and exposures. When a loss arises on the storage unit, the “other insurance” clause will come into play and either deny coverage for the tenant citing the “other policy” is primary or severely limit recovery in the proportional share settlement of the loss with the “other insurance” that is in place. 

Neither of these situations is ideal and can result in angry customers at claim time. Please review how these two different applications of the “other insurance” clause can be detrimental to your customers.

With the Storage Property Protection program there is no "Other Insurance"  clause. We pay first regardless of what any other insurance the customer may have. In addition SPP pays Replacement Value as opposed to Actual Cash Value (ACV) the way other programs pay.