An Insurance Tool That Does It all
✓ Ensure your tenants are protected with coverage that's better aligned to storage needs
✓ Drive higher monthly revenue with flexible, unit-specific coverage minimums
✓ Improve efficiency by eliminating manual enrollment and upsells
Better protect tenants and grow your bottom line with Storable's new tenant insurance solution
"Around 85% of our rented units have a policy in place, so this has been a tremendous profit center for us. We have had no negative interactions with the tiered pricing, if anything I think customers expect a larger policy to be in place with a larger unit."
- David Hurless, COO of Stor-It Self Storage
Why should a basic 5x5' unit be insured at the same level as a climate-controlled 20x20'?
Inadequate coverage for valuable goods is a risk most tenants don't want to take.
Research shows that tenants are willing to pay up to 25% of their rental payment toward insurance coverage.
Give them peace of mind with Storable's new Insured-To-Value technology.
* Research based on national average pricing for 5'x5' storage units.
Built for Flexibility
Customize ITV to meet the needs of your unique market. Choose a recommended approach, or create your own.
Watch what can happen when self-storage operations finally move past facility-wide $2K policies for $10/month
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➞ Cautious Approach |
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BEST FOR Markets with pricing sensitivity due to lower rental rates and occupancy |
ADJUSTED COVERAGE Adjust minimum coverage requirement for units above 150 sq ft to $3,000 ($15/month) |
RESULT 12.5% increase in insurance take-home revenue over the traditional model* |
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➞ Balanced Approach |
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BEST FOR Resilient markets with operators still able to achieve 87%-90% occupancy rates |
ADJUSTED COVERAGE Adjust minimum coverage requirement for: • Units above 50 sq ft to $3,000 ($15/month) • Units above 150 sq ft to $5,000 ($26/month) |
RESULT 55% increase in insurance take-home revenue over the traditional model* |
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➞ Assertive Approach |
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RESULT Strong markets or operators experienced in dynamic pricing strategies |
ADJUSTED COVERAGE Adjust minimum coverage requirements for: • Units above 25 sq ft to $3,000 ($15/month) • Units above 50 sq ft to $5,000 ($26/month) |
RESULT 98% increase in insurance take-home revenue over the traditional model* |
*Representative ITV example compared to typical insurance fee structuring of 500 insured, storage units comprised of 125 units of 5x5's; 100 units of 5x10's; 75 units of 10x10's; 75 units of 10x15’s; 50 units of 10x20's; 45 units of 15x20's; and 30 units of 20x20's. Information and corresponding revenue shown is provided for illustrative purposes only. Actual results and revenue will vary depending upon number of units, unit types and sizes, customer enrollment, and fee structuring.
Tenant insurance, reimagined
Learn more about how Storable's newest innovation can take your operation to the next level and get your questions answered by one of our insurance experts.
Insured-To-Value Technology Webinar + Q&A July 25th at 2pm EST
➞ Registration Coming Soon