The first defined list of tenant insurance best practices created for the self-storage industry addresses factors such as regulatory requirements, program selection, carrier rating, lease agreement, manager training, and customer communication.
MiniCo Insurance Agency, a leading provider of specialty insurance solutions for the self-storage industry, has published a list of best practices for offering tenant insurance at self-storage operations. MiniCo's best practices address factors such as regulatory requirements, program selection, carrier rating, lease agreement, manager training, and customer communication.
MiniCo President and CEO Mike Schofield commented, "There has been significant dialogue in the self-storage industry on the topic of financial products and models being marketed to protect a tenant’s stored property. As one of the pioneers in offering the tenant insurance model to the self-storage industry, we thought the creation of best practices for managing and offering tenant insurance was long overdue."
Founded in 1974 with self-storage tenant insurance as its sole insurance product, MiniCo Insurance Agency offers multiple insurance models and products to address the specific needs and corporate growth strategies of self-storage operations.
Commenting on the benefits of tenant insurance to the self-storage industry, Schofield said, "MiniCo's customer storage insurance products have served the industry and the tenant well for many years by responding to the tenant at the time of a loss. It has been a product that has historically protected the reputation of the industry by doing what the insurance product was designed to do: pay claims for covered losses."
MiniCo's tenant insurance best practices are available at www.minico.com/bestpractices. The best practices will be updated to reflect future enhancements and revisions.
MiniCo Insurance Agency, LLC, was founded in 1974 as a provider of specialty insurance products and publications for the self-storage industry. Today the company is a program administrator offering multiple specialty property and casualty insurance products for a variety of unique industries and exposures. MiniCo Insurance Agency, LLC, the parent company of MiniCo Insurance Agency of Canada, Inc., is a member of the Aran Insurance Services Group. For more information, visit www.minico.com.
MiniCo Insurance Agency