Billion-dollar hail events are on the rise. Data from the National Centers for Environmental Information (NCEI) reflect five such events in 2017 alone. Hail storms can cause catastrophic damage to self storage facilities and often result in repairs or replacement of the entire roof or the damaged portions of the roof.
The following are some recommendations to help protect your facility from the costly effects of hail damage.
Your insurance agent is an excellent source for risk management strategies and resources. Resources for business owners are also available at the Federal Emergency Management Agency (FEMA) website Ready.gov.
About the Author
Mike Schofield is the president and CEO of Phoenix-based MiniCo Insurance Agency, a provider of specialty insurance products and publications for the self storage industry since 1974. MiniCo has partnered with London-based Lloyd’s to offer specialty property and deductible buy-back solutions for insuring the most challenging self storage properties. MiniCo Insurance Agency, LLC, is a member of the Aran Insurance Services Group. For more information, visit MiniCo.com.