risk management: tip of the week

Preparing for a Loss Control Inspection

The insurance policy on your self-storage business gives the insurance company the right to perform a loss control underwriting inspection of your property and operations, typically within 60 days after the policy has been bound. If you get a request to schedule such an inspection, it is important to understand how the process works and the things you can do to prepare for the visit. Here are some guidelines to keep in mind.

Pre-Inspection Preparation

  • Take the inspection seriously.
  • Work with your agent to identify the lines of coverage to be included in the inspection and the items, documents, and data that need to be made available for the visit.
  • Make sure you and your agent have a clear understanding of when the visit will occur, when you will receive the inspector's report, and the deadline for complying with any recommendations.

During The Inspection

  • Be friendly, professional, and cooperative, and expect the same from the inspector.
  • Stay with the inspector throughout the visit.
  • Ask questions and discuss any issues that come up during the inspection.

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Sincerely,

Mike Schofield

Mike Schofield
President & CEO

MINICO INSURANCE AGENCY, LLC
Member ARAN Insurance Services Group

10851 N. Black Canyon Highway, Suite 200, Phoenix, AZ 85029