Acknowledgement of Insurance Availability

When to Use
Acknowledgement of Insurance Availability (ADD-7). This form can be used if you have obtained a specialty license to sell tenant contents insurance onsite. It is an acknowledgement by the tenant that the tenant has received your insurance brochure and either chooses to purchase the coverage you offer, or declines to purchase the insurance.

How to Use
If you have a specialty license, use this form with every lease signed. In this form, the tenant checks one of the two check boxes, indicating that he either elects to purchase your insurance coverage, or declines coverage and will accept full responsibility for all losses. The tenant then signs the form.
The TSSA lease already makes clear that the Lessor is not responsible for property damage. But this added “sign off” by the tenant is additional help when the tenant experiences a loss, and expects your facility to cover the costs. In addition to pointing out the lease language, you can also pull out the form—a separate sheet of paper—on which the tenant expressly declined coverage and agreed to assume all responsibility. TSSA members who use this form report it is highly effective in taking the “wind out of the sails” of a tenant who is bent on trying to hold the facility liable for whatever type of property damage occurred.

Tips for Use
The lease says this explicitly, but I would suggest making it clear to all tenants storing vehicles, trailers or boats that only the vehicle, trailer or boat listed on the lease may be stored at the premises, and if the tenant wants to be able to “swap out” vehicles in the space, he must fill out the addendum for additional vehicle storage. Otherwise, unidentified vehicles, trailers and boats are subject to towing.