The Last Word
Don’t Leave Money On The Table! The
self-storage industry has enjoyed sustained prosperity over the generations, so it’s no surprise that real estate investors from various industries are
starting to develop their own storage facility portfolios. Amidst this rapid expansion, self-storage operators must prioritize risk management and customer retention by implementing a robust self-storage insurance program. By protecting stored items and offering peace of mind to customers, operators (both veteran and novice) not only save money through risk management but also enhance customer loyalty and retention.
Risk Mitigation Self-storage insurance can play a crucial role in mitigating future risks to storage units by leveraging the power of data analysis. Insurance providers can collect and analyze a vast amount of data related to storage unit incidents, such as burglary, water, vermin, or natural disasters. By scrutinizing this data, patterns and
trends can be identified, allowing for a comprehensive understanding of the risks associated with storage units. This valuable insight can then be used to develop proactive strategies and preventive measures to minimize future risks. Whether it’s implementing enhanced security measures, conducting regular inspections, or identifying vulnerable areas within storage facilities, data analysis from self-storage insurance enables informed decision-making that ultimately leads to improved risk management and protection for storage units and their contents.
Maureen Lee –
President and COO Xercor Insurance Services
Customer Retention And Satisfaction A crucial aspect of running a successful self-storage business is maintaining a high level of customer satisfaction. Implementing a self-storage insurance program demonstrates a commitment to customer wellbeing and protection. When losses do occur, customers find comfort knowing there is a plan in place to help them
retain financial compensation for their damaged belongings. Customers appreciate knowing that their stored items are safeguarded against unforeseen events. With an insurance program in place, they gain confidence in the facility’s ability to handle emergencies and protect their belongings.
Moreover, self-storage insurance programs provide customers with convenience and peace of mind. Instead of having to
seek individual insurance coverage or rely solely on their homeowners or renters policies, customers can easily opt for the facility’s insurance program. This streamlined process eliminates any potential confusion or delays, allowing customers to quickly secure coverage for their stored items. The convenience factor, coupled with the peace of mind that comes from knowing their belongings are protected, enhances customer satisfaction and loyalty.
Saving You Money In today’s dynamic self-storage industry, risk management and customer retention are critical to long-term success. By identifying and addressing risks in real time, operators can save countless dollars on future claims as well as future repairs that may compound more over time. When customers do experience a loss, having a dedicated adjuster there to handle their needs and truly listen to them goes a long way in terms of customer retention. When a tenant’s loss is addressed efficiently and compassionately, they are more likely to continue renting with you.
Investing in a self-storage insurance program is a strategic move that not only protects stored items but also strengthens
the bond between the facility and its customers. As the industry continues to grow, facilities that prioritize risk management and customer retention through the implementation of robust insurance programs will undoubtedly reap the benefits of financial stability and long-term success.
70 August 2023 •
MiniStorageMessenger.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72
