The StorageFirst team encourages applicants to pay close attention to detail when binding coverage. Agents and brokers have no binding authority under this program, and no coverage is bound until written confirmation from StorageFirst is received.The Following Requirements Must be Met in Order to Request Binding:
In order to eliminate — or minimize — the number of endorsements to the policy/policies, StorageFirst asks that you review applications closely to ensure all information is accurate and complete. Policies are issued based on the information provided.Common Policy Corrections Requiring an Endorsement Include:
After coverage has been bound, StorageFirst will issue the policy or policies with net invoice in the following manner:
Please Note: StorageFirst will not provide policies to the insured. The PDF version of the policy emailed to you is the only policy provided. Delivery of the policy to the insured, whether by email or otherwise, is up to you.Renewals
StorageFirst renewal quotes/proposals will be prepared and e-mailed to you between 30 and 60 days prior to the policy expiration date. It is important that you provide a current contact name and e-mail address, so we are able to communicate with your office.Automatic Renewals
Some accounts qualify for automatic renewals. Policy and invoice will be emailed to the broker approximately 60 days prior to the renewal date.
Please Note: We cannot bind your renewal unless your agency status with CoverageFirst is approved. Please make sure your insurance license and errors and omissions information on file with CoverageFirst is up to date. If not, you must provide CoverageFirst (not StorageFirst) with the updated information. You may contact CoverageFirst at 888.650.2685 or coveragefirst.com.
Completion of a renewal application is required every 3 years. Mobile Self-storage supplemental applications are required each year. For larger multi-location accounts, we require an annual updated StorageFirst COPE statement of values in lieu of a StorageFirst application for each location.Payment Terms
StorageFirst is primarily an agency-bill program. Your agency is responsible for payment of premium net of commission to StorageFirst, regardless of whether or not you have collected a premium from the insured or finance company. Payment of invoice(s) is due and payable to StorageFirst upon receipt. Policies are subject to cancellation if payment is not received within 30 days. Reinstatement is offered on an exception-only basis. Please refer to your StorageFirst invoice.
Some accounts are automatically renewed, which means the policy and net invoice are generated about 60 days prior to the renewal date and sent to the broker. Payment by the broker on these automatic renewals is due prior to the renewal date.Commission