When a tenant experiences a loss at your self-storage facility, you should always hope for the best but plan for the worst. Being prepared to handle any incident that may arise might not only save the tenant-owner relationship – it could make it stronger.
Following a loss, the tenant comes through your door first. Even though the lease releases you of liability for their items, tenants are upset.
Try to remember the good news: if any loss occurs, your tenant insurance provider is the quarterback of the claims process:
The following are suggested measures you can take to protect your reputation and your tenants:
Be Proactive in Preventing Loss
You can help avert loss by investing in your property with these preventative measures:
Take Action When Loss Happens
Both the tenant and facility have responsibilities when loss occurs.
The facility should:
These steps ensure the carrier has enough documentation to efficiently process the claim. Through teamwork and open communication, you can maintain a positive relationship with your tenant and contribute to a seamless claims process.
About the Author
Mario J. Macaluso is senior vice president for SBOA Tenant Insurance (SBOATI). For five consecutive years, SBOATI has been rated the Best Tenant Insurance by Inside Self Storage. SBOATI is administered by Cornerstone Insurance Producers who is licensed where the product is sold and is dedicated to providing quality insurance products that are compliant with state law. For more information, call 1-800-792-0345 or visit SBOATI.com.