As a selfpreservation investor you are likely to be affected by crime at some point in time. Whether it is vandalism fire regulations burglary drugs or an accident there is the possibility that selfcontained facilities are occupied. And with the wide range of goods being stored selfstorage facilities are an important target for burglary. Having said that offering your tenants insurance is a cautious idea.
Do not scare yourself away from selfdefense investments but also the best managed facilities are at risk. According to a 2002 report nearly 25 percent of all US selfdefense operators reported a burglary or theft. Although prices have fallen in recent years you can probably expect your facility to meet at some point during your commitment to the operation. So while doing everything you can to deter crime and keep your facility clean and safe it would be useful for the selfpreservation owners and managers to offer any tenant insurance to their customers as well.
The type of coverage you should consider offering is a special insurance that protects your tenants property from theft loss or damage. Tenant insurance coverage is usually not included in the selfdefense insurance policy but your insurance agent will be able to offer you alternatives or refer to a company that can.
There are several reasons why it is advisable to offer tenant coverage with the most important to limit your debt. Because many tenants do not understand selfpreservation and their responsibility to protect their personal belongings they are likely to blame you the selfservice provider if their property is lost destroyed or stolen.
Even if your lease agreement makes it clear that the selfstorage facility is not responsible in any way for the clients property you become the first to blame and possibly be correct. By offering tenant insurance directly from getgo many courts will reduce the owners responsibility.
Another advantage of offering the tenant is that your potential and existing customers will feel more secure in hiring storage space from you. Most customers go through some kind of change of life and whatever they are they do not need another responsibility. In addition they are linked to the items they store. By offering the tenant insurance and educating them about the benefits you will help your customers feel more comfortable about renting selfcatering space.
An often renowned advantage of offering the tenant is that some insurance companies pay a fee to sell and manage their rental insurance programs. This can add to the bottom line of the company while increasing the value of the business. While the fee as an insurance company pays the owner for own storage space varies all adds.
Depending on the subject purchases will always be shouted on most occasions. But with regard to storage containers it is unanimously agreed that renting is the best option. It is very common for people to end up with extra things over the years. While selling or donating it would be the most obvious solution some people are not only prepared to share their valuables and would rather stick to it even though there is no place for it at home. Storage trolleys only provide the space needed to store such belongings.
An operator for own storage facility generally offers tenant insurance in two ways. The first is an emailin program where the insurance company provides all marketing requirements and forms to the operator which drives them to new customers. The tenant fills in the forms and submits it together with the payment. This is easy for the operator but fewer tenants will sign up. The second method is popular because the insurance payment is included in the storage fee. This is more work for the operator but keeps things simple for the tenant. More customers will buy insurance if offered in this way and most appreciate the comfort and peace of mind it provides.