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WEBINAR 6/20/18: Decrease Liability and Increase Revenue with Self-Storage Tenant Insurance

Sue_CSue_C NADaily Operations Certified, Advanced Operations Certified, Administrator Certified ✭✭✭✭✭
edited June 2018 in Industry Webinars
June Industry Webinar! 

Decrease Liability and Increase Revenue with Self-Storage Tenant Insurance

June 20, 2018
with James Appleton of
MiniCo Tenant Insurance

Self-Storage operators of all sizes have adopted tenant insurance as a way to decrease liability, increase revenue, and provide a valuable solution to often inadequate homeowners/renters policies. Learn all about the ease of setup and administration, the claims process, as well as revenue potential. Plus, discover how SiteLink customers specifically, can utilize built-in reports and API integration to decrease liability and increase revenue with self-storage tenant insurance.

Did you miss the live webinar? On-demand access is now available!

Comments

  • i43storagei43storage WIRegistered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    How does that decrease the operator's liability? 
    Jean Marie
    I-43 Storage
  • MiniCoTenantInsJAMiniCoTenantInsJA AZRegistered User
    edited May 2018
    Hi Jean Marie... that's a great question and something I'll address in the webinar. For now though, here are the general thoughts on how it can indeed reduce the operator's liability. 

    Tenants, as you are aware, rarely read the lease and in the absence of a Tenant Insurance program often attempt to recover losses from the facility despite it being stated in the lease that the facility is NOT responsible for such a loss and that customers are responsible for providing their own coverage. If left to the Tenant, they will likely go uninsured or default to their homeowners/renters policy which is in MANY cases inadequate, subject to sub-limits, and NOT replacement value but ACV (Actual Cash Value) which can leave the tenant less than whole. This can lead to them seeking compensation through legal means, creating a liability exposure whether at fault or not, which can be a significant burden from both a time and financial perspective for an operator.

    When a tenant fully understands that they are contractually obligated to carry such a policy or furnish evidence of insurance via homeowners/renters, they are more apt to purchase the Tenant Insurance policy. Most often they find that it is superior coverage to their homeowners/renters policy due to the fact that it is Replacement Value with a ZERO Deductible and covers more perils. They will feel better covered and more secure in the knowledge that a claim will likely be paid in the event of a covered loss and LESS likely to pursue financial compensation from the operator directly; effectively reducing YOUR liability. 
  • i43storagei43storage WIRegistered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    @MiniCoTenantInsJA - Thanks for the information.  Offering insurance to our tenants is one of the few sources of revenue left untapped with us.  Insurance is not required here and the paperwork seems like a hassle for the few dollars it will kick back to us.  Also, 50% of our tenants would never have the means to take us to court and the other 50% have insurance already.  I am looking forward to learning more though.  Thanks again.
    Jean Marie
    I-43 Storage
  • Sue_CSue_C NADaily Operations Certified, Advanced Operations Certified, Administrator Certified ✭✭✭✭✭
    edited June 2018
    Thank you James Appleton for presenting this very informative and important webinar!

    This webinar is now available on-demand.

    Did you miss the presentation? Want to go back and review the info?

    Watch Decrease Liability and Increase Revenue with Self-Storage Tenant Insurance on your own time at your convenience!
  • Sue_CSue_C NADaily Operations Certified, Advanced Operations Certified, Administrator Certified ✭✭✭✭✭
    The Q&A from this webinar is now posted. Feel free to add comments, ask a question, or learn more about tenant insurance.

    The Q&A also shows results from polls taken during the presentation. 

    Go to Q&A now.
This discussion has been closed.