Bruce Berlin v. Public Storage, Inc. CV075007494 Decided: August 05, 2011. A wholly owned subsidiary of Public Storage reinsures the risk for the Orange Door Storage Insurance Program, and Public Storage may benefit financially from your insurance purchase. “They tell consumers [the premium] is a pass-through cost and they will play no role in the insurance of the consumer’s goods,” the firm’s founding partner, Scott Cosgrove, told The SpareFoot Storage Beat. Cosgrove said the suit is open to all Public Storage customers who bought insurance from the company during the past four years. Has anyone from the Public Storage company or the insurance company acknowledged receiving your claim, or offered to pay for your damages? Still, revenue from tenant insurance remains a small portion of the company’s total revenue. All Rights Reserved. Greenberger said it’s common for self-storage operators to collect insurance premiums on behalf of insurers. From winning cases that make streets safer throughout the state of California to using a class action lawsuit to tackle the energy companies that caused the 2001 energy crisis in California, Baker, Burton & Lundy is a champion for consumers. Garcia filed a claim on the insurance policy that he said Public Storage had required him to buy. In 2015, Public Storage settled a class-action suit in Florida in which plaintiffs claimed the REIT misrepresented how it was using the premiums collected from customers who bought tenant insurance through the company, a source reported. But it was actually Public Storage collecting premiums, denying claims and profiting at both ends. Please complete and submit the inquiry form on the right side of this page, or give us a call at (800) 865-1461. Self Storage Acquisition News for January 2021, Storable welcomes new investment partner: EQT, Public Storage to settle class action lawsuit, U-Haul sees 16.7% bump in self-storage revenue, Jernigan: “The reports on the demise of the storage sector are greatly exaggerated”, Property tax pain on tap for self-storage sector. These suits involve all sorts of things. In fact, the suit claims, Public Storage “enriches” itself by retaining much of each premium. New Hampshire Insurance is not a defendant in the suit. The suit against Public Storage contains five counts: violation of the Florida Deceptive and Unfair Trade Practices Act, breach of contract, unjust enrichment, breach of covenant of good faith and fair dealing, and unconscionability. The suit, filed in federal court in Miami, seeks restitution for all of the insurance premiums paid to Public Storage by its customers over the past four years, an amount that potentially could total hundred of millions of dollars. The suit claims that the premiums are excessive compared with similar policies and that there’s no correlation between the underwritten risk and the premium amounts. Cosgrove said in that case, Costa Cruise Lines line invoiced customers for a port charge. Attorneys are either actively filing these cases or investigating to determine whether lawsuits can be filed. The premium appears as a line item on monthly statements for Public Storage customers. Representatives of Public Storage could not be reached for comment. Unsolicited Phone Calls and Text Messages, Audet & Partners, LLP Launches Groundbreaking Class Action Lawsuit Based on Roundup Cancer Link, Defective 3M Earplug Lawsuit Alleges Defective Design, Kona Coffee Lawsuit Alleges Mislabeling of Inferior Blends, Prevagen Lawsuit Alleges False Advertising, Instacart Driver Lawsuit May Allege That Company Misapplied Tips, Amazon Driver Lawsuit May Allege That Company Misapplied Tips. As noted in the company’s 2013 financial report, the company grossed $84.9 million from the sale of tenant insurance policies in 2013. On March 21, 2014, Packwood rented unit No. The REIT is scheduled to file its response to the suit in early June. Eyewitness News tried to reach a manager or supervisor to comment on the investigation, but no calls were returned. Related: Public Storage - 26% rate hike after just a few months. According to the suit, the statements are designed to lead customers to believe the premiums are collected by Public Storage and fully passed on to the insurance company. It alleged that the insurance Public Storage offers is not from a separate company, but from subsidiaries of public storage itself. We offer a wide variety of units and sizes available with no obligation and no long-term commitment. BC611584. Subject to the applicable rules, laws, and regulations, the Law Firm of Audet & Partners, LLP is a national law firm, and seeks to provide experienced legal representation to our clients throughout the United States. Experienced Class Action Lawyers and Complex Litigation Attorneys. Audet & Partners, LLP has initiated a class action lawsuit on behalf of customers of Public Storage in 2015. The number of customers buying policies also has been on the rise. Evidence suggests that the fire was started when intruders used a blowtorch on the lock of a unit they were trying to rob. The practice suggested above appears to have grossed the company more than $80 million in 2013. Public Storage Insurance Lawsuit Public Storage Lawsuit – Basic Information. Then, the insurers typically return a portion of the premiums to the operators in the form of marketing or administrative fees. The suit says Bowe and other customers who bought tenant insurance received a contract addendum authorizing Public Storage to “conduct the administrative function of receiving premium to send to the insurance company on my behalf.”. Coral Gables, FL, law firm León Cosgrove is representing Bowe, who rented a unit at a Public Storage facility in Miami. Public Storage customers that purchased self-storage insurance in California between 2010-2016 may have been charged illegally excessive premiums for self-storage insurance. Every few weeks it seems another class-action lawsuit is being filed against a storage business. Plaintiffs in the Public Storage lawsuit are seeking reimbursement in an approximate amount of $100 million for insurance that they claim was fraudulently and/or illegally sold to them by Public Storage. “The cruise line became liable for that fee because they had provided an impression to the consumer that they were collecting that fee on behalf of a third party,” Cosgrove said. The sale of insurance policies is high-margin source of revenue for Public Storage. 153 at Public Storage in Monmouth Junction at a cost of $174 per month. “If it turns out to be the case that you aren’t allowed to recommend your own insurance to people … a lot of other businesses would be in bad, bad shape,” Greenberger said. Case Summary: This is a settlement for a class action alleging that Public Storage told Florida tenants it would send premiums collected for self-storage insurance to an insurance company, but that it retained more than 75% of the money collected. The Lawsuit involves Public Storage’s self-storage insurance sold to its tenants at Public Storage's California facilities. Public Storage is being represented by William M. Audet, Steven R. Weinmann, and Ling Y. Kuang of Audet & Partners. He did not take the additional insurance that was offered because his … The plaintiff, Colin Bowe, alleges that Public Storage sold tenant insurance to him and other storage consumers without properly disclosing that the company retains a “substantial portion” of the premiums. January 6, 2018 I already posted about this topic. The Class-Action Lawsuit The self-storage industry has grown so much over the past decade that it’s now on the radar of class-action attorneys. Call today at 800-688-8057 for a free reservation and get your first month's rent for just $1. James Colby of Kansas City is also waiting. On Monday, January 28, 2019, the Public Storage class action trial began in the Superior Court of California, County of Los Angeles. If you are eligible for this class action lawsuit, file a claim by 1/11/2016 to receive up to 50% of the total alleged damages. The SpareFoot Storage Beat is your go-to source for self-storage news, features and analysis. Attorneys with the two law firms could not be reached for comment. The Lawsuit alleges Public Storage led tenants to believe that they had to purchase insurance through Public Storage, and concealed from its tenants that they had other options to fulfill the requirement in their lease that they have insurance. “Meanwhile, they are taking an enormous chunk, if not all of it, and we think it is a deception.”. The SpareFoot Storage Beat is your go-to source for self-storage news, features and analysis. According to the lawsuit, Public Storage tricked its customers into buying its own insurance at inflated rates – in violation of the Florida Deceptive and Unfair Trade Practices Act. In 2011, 61 percent of the REIT’s customers bought insurance policies marketed by Public Storage. Success! B291662, ___Cal.App.5th___ (Feb. 6, 2020), the Court of Appeal affirmed an order denying class certification on the grounds that issues of deception and reliance were not susceptible to common proof. Public Storage has agreed to settle a class action lawsuit alleging it deceived some of its tenants by misrepresenting that it would send the premiums collected through the sale of self-storage insurance to an independent insurance company. You'll begin receiving the newsletter within a week. Superior Court of Connecticut. Perez v. Public Storage, No. He loves reading Elmore Leonard novels and listening to classic country music. At that hearing, plaintiffs clarified that they were seeking to certify a class only for purposes of obtaining restitutionary relief, not injunctive relief. Greenberger is not involved in the suit. BC611584, is a class action lawsuit (the “Lawsuit”) filed against Public Storage in the Superior Court of California for the County of Los Angeles (the “Court”). Public Storage was also the target of a class-action suit in Florida after customers discovered that the insurance policy they were required to purchase wasn’t through an independent insurer, but rather through Public Storage — meaning Public Storage was charging people more for storage units than advertised. Weekly Self Storage Acquisition Round Up 1.20.21, The Roll Up: Weekly Self Storage Development News 1.20.21, Soon to be a public company, Janus aims for $1 billion in sales by 2023, Extra Space Storage continues clean energy leadership with 65 more solar installations from Pivot Energy, Storage Exchange debuts brokerage alternative for self-storage industry, Billion dollar deal sets stage for self-storage acquisition activity in 2021, The Roll Up: Self Storage Development News for January 2021, Sold! Public Storage customers that purchased self-storage insurance in California between 2010-2016 may have been charged illegally excessive premiums for self-storage insurance. Self-storage industry attorney Jeffrey Greenberger of Cincinnati law firm Katz Greenberger & Norton said he isn’t convinced that Public Storage did anything wrong in this case. Self-storage categories covered by The SpareFoot Storage Beat include public companies, private companies, industry trends, real estate development, facility acquisitions, hirings and promotions. By contrast, $4,000 worth of coverage from U-Haul’s recommended insurer, SafeStor, goes for $6 a month in Florida. The suit claims that the insurance program offered by Public Storage is “a hidden profit center for itself that kicks back unconscionable profits at the expense of consumers.”. In 2013, that number increased to 65 percent. In a new class-action lawsuit, a Florida man alleges self-storage operator Public Storage deceived customers who bought tenant insurance policies. The company claims that the accusations are unfounded, and that the customers purchased the insurance of their own volition. If you used Public Storage and were sold self-storage insurance in California between 2010-2016, you are urged to contact Audet & Partners, LLP for a free, confidential case evaluation. Public Storage is a class action lawsuit (the "Lawsuit") filed against Public Storage in the Superior Court of California for the County of Los Angeles (the "Court") Case No. If they are not being responsive at all, you will need to make an assessment of the dollar amount of your damages and sue them. The legal outcome is that a California appellate court reversed a trial court. I fee violated. The Lawsuit involves Public Storage’s self-storage insurance … If you rented storage units from Public Storage in the state of Florida and purchased self-insurance policies, you may be entitled to benefits from the class … The Lawsuit involves the self-storage insurance sold at Public Storage’s California facilities. Be sure to read Boswell v. The Retreat Community Association. Orange Door Claim Intake Form Email: 2618orangedoor@sedgwickcms.com Fax: 844-244-2286 *Orange Door Storage Insurance Program *CONTRACT : 2618 Internal Sedgwick use only Reporter Information Information suggests that Public Storage fraudulently failed to disclose to customers that a significant portion of the premiums collected for this insurance were being wrongfully diverted directly to Public Storage. PUBLIC STORAGE BURGLARY - INSIDE JOB?! “If my deductible is $2,500 and I agree to a $3,000 value limit at Public Storage and I had a complete loss, I’d get $500 back, at best,” Greenberger told The SpareFoot Storage Beat. Currently, we are involved with a class action that alleges deceptive business practices by Public Storage. You can call him Al. I ALSO found out that my certificate of storage insurance provided coverage up to a maximum of $2,000, subject to a $100 deductible. Alexander Harris/May 27, 2014March 10, 2020. In a new class-action lawsuit, a Florida man alleges self-storage operator Public Storage deceived customers who bought tenant insurance policies. When 911 emergency responders sent a team to a fire at a storage facility on Milwaukee’s northwest side in November 2015, Casey Dorsey was one of three customers whose property suffered extensive damage in the blaze. Information suggests that Public … Our attorney team represents legal clients in class action lawsuits, personal injury law suits and related legal matters, and other types of law and litigation. Audet & Partners, LLP has initiated a class action lawsuit on behalf of customers of Public Storage in 2015. A lawsuit filed in California state court alleges that Public Storage has been unfairly profiting from these forced insurance payments. Willis started working with Public Storage after the lawsuit … Part of the port charge did go to the port, he said, but the cruise line also kept a portion. Copyright © 2020 by Audet & Partners, LLP. The anatomy of a self-storage zoning case, SiteLink wins $1.7 million judgment against eMove, E-commerce trailblazer Scott Bintz sells storage portfolio in North Dakota, Sold! Public Storage’s insurance revenue rose 8.8 percent from 2012 to 2013. Public Storage denies of any wrongdoings however, the have agreed to settle the self-storage insurance class action lawsuit to avoid the cost and uncertainty of trial. MEMORANDUM OF DECISION. This action arises from the plaintiff's alleged loss of his personal property kept in a self-storage unit at the defendant's place of business in Bridgeport, Connecticut. After Public Storage filed an opposition and plaintiffs filed their reply, the trial court held a hearing to entertain argument. Office 415.568.2555 Fax 415.568.2556 Toll Free 800.965.1461. Perfect Solution Storage’s cheapest policy in Florida costs $11 a month for $3,000 worth of coverage, according to the suit. $2000.00 is not even a coverage listed in their Brochure. Alexander Harris is a reporter covering the business of self-storage. 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