Let's talk about self storage.

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  • 1.  General Liability Insurance

    Posted 05-17-2023 07:37 PM

    In 2021 we opened an RV and boat storage facility on our property behind our home. I have contacted several insurance companies about general liability insurance and I get the same answer. Because the business is located on the same property as our home no one will write the policy. They all suggest subdividing the property and then they could write a policy. We have home owners insurance and I was advised by several agents to not disclose the business to them as they would likely drop me. 

    I really dont want to spend 15 to 20k to subdivide so that we can get insurance. However, I am worried about anything happening and us being in a bad way really quickly. 

    Anyone have any suggestions?

    Thanks



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    Carl Schach
    Owner/Operator
    North Edinburg RV and Boat Storage LLC
    Edinburg TX
    (956) 533-1205
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  • 2.  RE: General Liability Insurance

    Posted 05-23-2023 12:56 PM

    Hi Carl,

    What a pickle you are in! Getting the correct General liability for a Storage business is a nightmare!
    I do not have an answer, but I recommend you contact an escrow officer at a title company to see what insight or pathways they might offer, such as deeding that parcel of land to your child, relative, etc. Then, work with them to get the coverage you need. In addition, there should be an attorney affiliated with the company that hopefully is savvy in real estate law.



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    Caroline Hart
    Vice President
    X-15 Enterprises, LLC
    Jasper TX
    (409) 382-0266
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  • 3.  RE: General Liability Insurance

    Posted 05-23-2023 05:09 PM
    I appreciate the reply. The land is all one parcel which is what creates the problem. I would have to subdivide it to create 2 parcels. The cost of that plus giving up an additional 50 feet ( at least ) of right of way is not something I want to do. 

    --
    Gene Schach
    North Edinburg RV and Boat Storage LLC
    4706 N Jackson Rd.
    Edinburg, TX. 78541
    956-659-3070 office
    956-533-1205 cell




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