What Should Self-Storage Facilities Look For In Tenant Insurance Coverages?

The right self-storage tenant insurance is important and valuable for a number of reasons. Self-storage facilities need to protect themselves and minimize their risk. Having the right options available offers an added convenience for customers. Plus, self-storage facilities can generate an additional stream of income by offering self-storage tenant insurance.

Why is there a need for tenant insurance?

Self-storage facilities do not insure customers’ property. Each customer is responsible for insuring their own stored property. Tenant insurance covers losses due to events that are beyond the facility’s control, including fire, natural disasters, and burglary.

Homeowner Policies May Not Offer Adequate Converge

While some homeowner policies provide some protection for items stored away from home, it is likely that they don’t provide comprehensive coverage. For clarification, self-storage tenants should inquire with their insurance agent or company. For added peace of mind, specialized self-storage insurance is an affordable solution.

What customer benefits should be included in a tenant policy?

  • A low or $0 deductible
  • Replacement cost coverage
  • Vehicle coverage
  • A solid claims reputation
  • Underwritten by a reputable carrier
  • Coverage for a variety of risks, including hail, water damage, building collapse, earthquake, explosion, and vandalism

What benefits and features should a facility owner look for?

  • Easy implementation
  • A simple, effective brochure for tenants
  • Helpful marketing materials
  • No admin or claims handling responsibilities

MiniCo Offers Tenant Insurance for Self-Storage Facilities

Facilities that meet MiniCo’s underwriting standards can qualify to offer one of MiniCo’s tenant insurance programs. Learn more and apply.

 

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