What it does
BP 07 12 is the self-storage class endorsement of the ISO BOP. ISO describes it as modifying Section I – Property and Section II – Liability to include specialized coverages tailored to self-storage facility risks.
Who needs it
Owners and operators of self-storage facilities. ISO's eligibility has no square-foot limit, but buildings may not exceed two stories, and cold storage or storage of industrial materials, chemicals, pollutants and waste is not eligible.
Quoting and selling notes
- Ask about the rental agreement (whether tenants must insure their goods), lien sale practices, on-site management, security, gate access and any truck or trailer rental.
- Tenants' goods are usually the operator's largest liability concern; explain how the class endorsement and the operator's contract work together.
- New York and Oregon use state versions (BP 07 52, BP 07 42).
