Offering storage rental insurance – yes or no?
If you’re offering storage rental, then you may also be wondering if you should be offering storage rental insurance. The answer to this may be simple, but the explanation is not. So let us take a closer look at it!
Biggest dangers to befall stored items
There are many different nemeses to the well-being of stored possessions. And, same as in the moving industry, when there are dangers, there is moving insurance. But what are the things from which a storage owner should insure its clients?
- When offering storage rental insurance, the first thing to come to mind is most certainly burglary. Thankfully, it is a pretty rare issue to be had. Most fairly secured storage facilities will not face these issues. However, it is definitely on the top of the agenda for those using your storage units. After all, many people are storing very expensive, valuable or even priceless and irreplaceable things in their storage units. They will want some kind of insurance to keep their minds at ease.
- Secondly, there is moisture. Moisture breeds all kinds of trouble upon stored items, especially those which make fertile grounds for mold. If it ever appears in the storage unit you will find that it is a persistent adversary indeed. And ones that will take its toll on cash of the client, as some kind of mold removing service will be needed.
- Thirdly on the list of things you never want to see but have to admit are a possibility – pest! Bugs and even rodents can appear should sanitation or safety fail. Those are the words, eating through many items and packaging materials, often compromising the structural stability of furniture pieces. You can easily see how these could be a problem.
With this out of the way, let’s see what kind of storage are you running.
Different kinds of storage units
There are, as you might be aware (but we will say it nonetheless), 4 main types of storage. And, before we move on to benefits of offering storage rental insurance you should first consider what kind of storage you are running, therefore, what kind of trouble can you expect to occur.
The first storage category is outdoor storage. Of course, this does not mean that the units are open, but simply that they are accessible “from the street” in a way. Storage units like these are more prone to weather damage and are rather inaccessible during bad weather, but during normal days they are easily accessible to cars, meaning they hold some big advantages over indoor storage facilities.
Opposite to that, of course, are indoor storage facilities. These are facilities where storage units are all part of a single, closed structure. This building is climate controlled, making it easily accessible in all weather conditions and somewhat safer from burglars. However, those are often more expensive ones, and all have to be carried by hand in these multistories buildings.
There are also climate-controlled units. These are specially designed with dangers of moisture and mold in mind. They offer clients the most protection possible. And you also have special storage facilities, for things like wine cellars, cars, and other items which require special storage environments.
Benefits of offering storage rental insurance
So, now that we saw what is there to have and from what is there to protect, let us proceed to the main topic at hand. Why should you be offering storage rental insurance?
We compiled a few reasons as to why you might want to take this course of action.
First and foremost, the law requires offering storage rental insurance
As the title of this segment says, you are obligated by law to provide insurance. Now, this does not necceraly mean that you must provide rental insurance, but just like licensed local movers have to provide some kind of insurance for their customers, storage facilities providers have to do the same for theirs. However, if the law in your particular state is different, that does not mean that you necessarily shouldn’t do it. There are still plenty of reasons why you very much should.
Burglaries can happen
You can invest in all the alarms and security personal you want, install security cameras and make sure that everything is under lock and key when you leave the facilities unmanned… but one thing is for certain. Murphy’s law. If something can happen, it will, and be sure that breach of security is always a possibility. This, of course, is not a call for despair. You should invest all you can into proper security. But, if it fails, you want your clients to have insurance, and you will want one as well.
Extreme weather conditions might occur
Speaking of things outside of your control… No matter where you live, these weird climate events can and will happen. Be it floods, strong winds, wildfires, hurricanes or snowstorms.
Think about how much planning the long distance movers do when they plan out the route through bad weather. You can’t just up and move! Instead, you may have to stay put even in these conditions and therefore, stay insured.
You are the middle man
When providing insurance for clients, just remebmer that you are not providing it yourself. All you are doing is being a middle man, someone to connect them to insurance providing firm.
This will make your job a lot easier. It is not the same as movers having to explain what is a binding estimate, provide it for free, etc. This is a relatively easy business. They demand, you move on the demands and just say the price!
So, should you be offering storage rental insurance?
Well, the final word is, naturally, yours. But if you ask us: yes, you should be offering storage rental insurance. It is a natural and relatively easy thing to do, and something clients will appreciate very much.