Bill > SB577

This bill establishes a new chapter in the New Hampshire statutes to regulate the sale of self-service storage insurance. The key provisions include: requiring owners of self-storage facilities to obtain a limited lines license to sell such insurance; setting marketing requirements for the sale of self-service storage insurance, such as disclosing that it may duplicate existing coverage and that purchase is not required to rent space; authorizing employees and representatives of owners to sell the insurance without being licensed insurance producers, provided they receive appropriate training; and allowing the Insurance Commissioner to impose fines and other penalties for violations of the new law. The bill would take effect on January 1, 2021.

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