Self-Storage Building Updates
The self-storage industry is booming, and business owners are expanding their facilities and upgrading older buildings to meet the demand. With this in mind, it is very important to advise your underwriter of any building updates your self-storage clients may have made. Unreported updates can be problematic in the event of a claim. Plus underwriters need current information about a self-storage risk in order to provide the best possible terms and pricing for a renewal or new business quote.
Here are some additional tips to help your underwriter provide a premium proposal quickly and with the best pricing and terms available for your self-storage client.
• Use the Online Portal – MiniCo’s online agent portal is the fastest and most efficient way to submit an application for a self-storage risk. If you need to use a traditional application, please be sure to download the latest version directly from MiniCo’s website.
• Help the Underwriter – Remember that underwriters want to write the business, but they are required to justify their pricing. Be sure to include any information that could help in pricing the account. Don’t be afraid to mention negative information as this can aid in building trust with the underwriter.
• Don’t Guess – Unless you are fairly certain of an answer, don’t guess. Collect the required information prior to submitting the application.
• Know the Coverages – Be aware of the coverages requested on the application as some can have a significant impact on the final premium.
• Attach Documentation – Include photos, site diagrams, loss runs and any other documentation that can be useful in pricing the quote.
For more information about registering for the online agent portal or downloading an application, contact your MiniCo underwriter at 800-528-1056.