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  • StorSmart Tenant Insurance

    Does anyone use StorSmart and if so how is it working? We are switching over soon from Bader and would like to find out more from real world users.
    Chasing Perfection to catch Excellence

  • #2
    Re: StorSmart Tenant Insurance

    We use StorSmart Insurance and so far I have been very pleased.
    Stephanie

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    • #3
      Re: StorSmart Tenant Insurance

      We just started using StorSmart @ our facility. The training was good and we are happy with the company. I am not doing as well as I would like with signing up customers.

      We are right next to the big orange door company and they make you buy insurance (and a lock) so we would often get angry customers at our facility renting because even though we encouraged we didn't actually make you buy it. Now that has changed. I have renters insurance at the apartment and I believe in insurance...I just have a difficult time getting customers to.

      I stick to the script that StorSmart has us use but customers just don't want an additional monthly charge.
      The future depends on what you do in the present.

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      • #4
        Re: StorSmart Tenant Insurance

        We've been kicking now for 6 weeks and are doing extremely well. Before we were batting 1-1.5% to total tenants. Since switching to StorSmart we are averaging 84% between 4 different locations in the Charlotte, NC market. My location is over 100% if you include some exsisting tenants that signed up. I'm really thrilled about it. My goal starting was to generate enough revenue to cover the cost of my weekend assistant taxes and all. I already have 1.25 days covered so only need 3 more days to reach my goal. Todd Levy has been a huge help. If you have any questions or need anything give him a call @ 7706241824.
        Chasing Perfection to catch Excellence

        Comment


        • #5
          Re: StorSmart Tenant Insurance

          Originally posted by Advantage IT View Post
          We've been kicking now for 6 weeks and are doing extremely well. Before we were batting 1-1.5% to total tenants. Since switching to StorSmart we are averaging 84% between 4 different locations in the Charlotte, NC market. My location is over 100% if you include some exsisting tenants that signed up. I'm really thrilled about it. My goal starting was to generate enough revenue to cover the cost of my weekend assistant taxes and all. I already have 1.25 days covered so only need 3 more days to reach my goal. Todd Levy has been a huge help. If you have any questions or need anything give him a call @ 7706241824.
          This is FANTASTIC!!
          Stephanie Tharpe
          President
          A+ Management Group, LP
          Nashville, TN
          www.aplusmanagementgroup.com
          615.288.2162

          TNSSA Board of Directors
          www.tnssa.net

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          • #6
            Re: StorSmart Tenant Insurance

            I just wanted to update this thread from a year and a half ago. We currently have over 70% of our 1400 tenants enrolled in StorSmart. Yesterday we brought on our last 3 stores. We are converting well over 80% of new tenants to StorSmart insurance. I am making enough to pay for almost 12 days a month for my assistant. We've also seen the value of our property rise because of the additional income and the coverage. I never expected it to go this well. Thanks Todd and StorSmart for the easy transition and the monthly check!
            Chasing Perfection to catch Excellence

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            • #7
              Originally posted by MyStorageOps View Post
              Does anyone use StorSmart and if so how is it working? We are switching over soon from Bader and would like to find out more from real world users.
              Why did you leave Bader? The owner of my company is considering switching to them.

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              • #8
                A lot has changed in the industry since the original 2013 post. We have been very please with StorSmart. My average penetration rate over all is 68%.

                In the last couple of years Bader and StorSmart have essentially merged under the Storable platform. I have just recently brought on a new 3rd party client and they will be using Bader.

                Previously, Bader didn't offer much in the terms of training. We also only had 2% penetration. Again things have changed now. I believe I can be just as successful on Bader or StorSmart it wouldn't matter.
                Chasing Perfection to catch Excellence

                Comment


                • #9
                  Originally posted by Iamkathleenj View Post
                  Re: StorSmart Tenant Insurance

                  We just started using StorSmart @ our facility. The training was good and we are happy with the company. I am not doing as well as I would like with signing up customers.

                  We are right next to the big orange door company and they make you buy insurance (and a lock) so we would often get angry customers at our facility renting because even though we encouraged we didn't actually make you buy it. Now that has changed. I have renters insurance at the apartment and I believe in insurance...I just have a difficult time getting customers to.

                  I stick to the script that StorSmart has us use but customers just don't want an additional monthly charge.
                  Not sure what you mean by the part I put in bold. Are you actually requiring insurance or just pushing it more than you used to?

                  We also use StorSmart and I usually emphasize the fact that "if it's worth storing, it's worth protecting" as well as the fact that it can be cancelled or changed on any month without penalty. Something you might consider is giving a month or two of "free" insurance (by issuing a credit towards rent in the amount of the premium) to sign up. Many will forget about it after that and won't call to cancel it. Obviously that would probably only be wise with more expensive units with tenants who intend to stay more than a few months.

                  Another idea is to push insurance on common forms you send to customers, such as invoices and receipts. If you use SiteLink, there is a keyword <Tenant.InsurCoverage> That will insert the dollar amount of coverage the tenant has into any form you use. You could add a note to receipts/invoices that uses this. For example: "You currently have $xxxx of insurance coverage for this unit. Remember, storage is at your own risk, and we do not cover you for any loss or damage that may occur to your belongings. Please contact us today to add coverage at a low monthly price that can be cancelled at any time. Need more coverage than you currently have? We can help you with that too!"

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                  • #10
                    At one time we didn't require insurance so we would get PS's customers to rent with us because we didn't make them buy insurance and PS did. That changed and we signed up with StorSmart. If they don't being in their own insurance within a day or 2 we sign them up for the minimum policy. I just include it in my spiel and tell them rent, tax and insurance will be $ XX and they usually have no problem with it. If they do they can provide their own or rent somewhere else.

                    I like that idea of putting the insurance keyword into the forms. Thank you!


                    The future depends on what you do in the present.

                    Comment


                    • #11
                      Originally posted by Iamkathleenj View Post
                      At one time we didn't require insurance so we would get PS's customers to rent with us because we didn't make them buy insurance and PS did. That changed and we signed up with StorSmart. If they don't being in their own insurance within a day or 2 we sign them up for the minimum policy. I just include it in my spiel and tell them rent, tax and insurance will be $ XX and they usually have no problem with it. If they do they can provide their own or rent somewhere else.

                      I like that idea of putting the insurance keyword into the forms. Thank you!

                      Ugh...been there with a previous storage company. At first they let people sign waivers, but later they said let them walk if they refuse to provide proof or sign up and they also sent letters to all current tenants demanding proof or be auto-signed up. The store I was managing was an area with a lot of older country folks who were set in their ways big time. It was a nightmare. Got cussed out in person and on the phone. Literally had one old lady come in and throw her insurance notice letter at me before screaming at me. Hope your demographic is more easy-going!

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