Is Your Storage Facility Fully Insured?


Self Storage facility owners face unique needs from a risk management and insurance perspective.

Depending on whether you have the traditional drive-up mini storage facility layout, strictly indoor unit-access, secured and climate controlled, or a mix of the two, these needs can vary, and should be assessed and updated by your insurance broker annually to be sure the proper overages are in place to protect you against a property or liability claim.

Most important to consider are the following…

  • Do you have the proper protections in place at your facility(ies) such as central station burglar and fire alarms where applicable?
  • Do you have a surveillance system in place that covers not only indoor common space but parking areas and entrance ways as well? This is a rather inexpensive system to have installed, and will be well worth your money spent especially in the case of a claims situation.
  • Is your indoor facility fully sprinklered?
  • Does it have a key fob or similar security system that allows elevator access to the client for only the floor that their unit is located?
  • Is your outdoor facility enclosed with a fence at least 6′ in height on all sides, and does your office have a clear and unobstructed view of the entrance to your facility?
  • Do you have a sufficient outdoor lighting system, and have you repaired any cracks, dips, or heaves in the blacktop parking area?
  • When was the last time you updated your lease agreement, and have you had an attorney review for you and make recommendations?

These items are important because not only will most of them help you to obtain better insurance premiums, but they will certainly protect you and your business assets from a claims situation arising.

The more your insurance agent knows about the safety and security at your facility, the better they will be able to present your facility to an underwriter to provide the most competitive pricing available.

Lauren Nicholson