Tenant insurance programs have become a standard offering at most self storage facilities. There are several options to choose from, and it’s important that owners choose a provider with a solid track record for delivering value and excellent claims service. It’s also important for owners to choose a program that won’t jeopardize the overall business of renting storage units, and adequately protects both the self storage operator and tenant in the unlikely event of a loss.
So what is one of the keys to maximizing your profitability and having success with your tenant insurance program? It’s training.
A strong program will be backed with comprehensive training resources that ensure you and your staff are educated and equipped to handle policies and optimize profitability.
Here are three things to look for when it comes to tenant insurance training:
- Simple, Straightforward Training There are plenty of complicated issues for self storage managers to deal with. Selling tenant insurance shouldn’t be one of them. Choosing a simple and straightforward tenant insurance program will ensure that the training aspect of your program is simple and straightforward as well. If the program is as simple as it should be, then training your staff should be quick and painless.
- Online Training Tools In our high-turnover environment, you need the ability to onboard new hires quickly and effectively. And while in-person training sounds great in theory, it’s not feasible to wait for corporate trainers to administer on-site training at your facility each time you hire someone new. That’s why your tenant insurance program should offer training tools – like online tutorials – that clearly explain the tenant insurance process and scenarios that managers may encounter. Online training tools also make it easy for managers to revisit the training materials if they wish to have a refresher course. Another big benefit of online training tools is that most give you access to your employees’ training history, so you can easily track which employees have or have not yet participated in training.
- Training for Both Non-Licensing and Licensing States Your tenant insurance provider should have training materials that distinguish between states that do or do not require a limited lines license for insurance. In non-licensing states, SBOA Tenant Insurance makes the daily operations of the facility manager easier than ever. Since coverage is outlined in the rental agreement and provided automatically under the operator’s master policy with SBOATI, facility managers are entirely removed from any insurance transaction. Both you and your managers can appreciate the simplicity of the Operator Provided Program.
Do Your Research
Remember – it’s always important to do your research when it comes to choosing a tenant insurance provider. Make sure they have a strong understanding of the insurance regulations for your state so you’re sure to always be in compliance. Ask questions, and be certain that your provider offers comprehensive training tools that can easily and effectively be used by your staff. With the right insurance provider and the right training resources, both self storage owners and tenants will be fully protected from the unexpected.