AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO SELF-SERVICE STORAGE INSURANCE PRODUCER LICENSURE.

As the self-storage industry continues to grow, it is important for consumers to have the option to insure their items stored in a self-storage facility. Currently, Delaware law does not provide a licensing structure for the sale of self-storage insurance. This type of insurance is becoming more commonplace with the growth in the self-storage industry. This legislation provides a licensing structure for self-storage businesses engaged in the sale of this type of insurance, grants the Insurance Commissioner regulatory oversight over the sales practices for this type of insurance and provides important protections and disclosures for consumers who purchase this insurance product.