There are different types of property to consider when insuring your self storage business; real property and personal property. Real property are items such as buildings and permanently attached items. Personal property includes items that belong to your business such as computers, furniture, and equipment. Insurance policies can include limits for both your real and personal property. These can also be combined with liability coverage on a business owner’s policy. This type of policy can be custom tailored to your business.
In the event of a direct loss, a coverage to consider is Business Income coverage. This type of insurance provides coverage for a direct loss to the business. Examples of a direct loss include fire damage, water damage, and wind damage. This coverage begins at the time of loss and may continue until your facility is fully restored.
If you have a staff of employees, you may also want to consider Employee Dishonesty coverage. Employees can be tempted if they have access to your storage facility or your tenant’s property. An Employee Dishonesty policy can help protect your business.
A personal insurance package can be designed for your self storage business. We realize that your business is unique and the self storage industry has special coverage needs. Contact Barr’s Insurance at 888-399-6368 to create your package today.
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For insuring a business there are several options available to insure everything from business equipments to providing health coverage to employees, what the owner has to do is to choose the options available. In case of a self storage industry as the coverage needs are special so will be the insurance policy.
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