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  • #31
    Originally posted by RandyL View Post

    This is the first I have heard of this and is certainly something I will be checking in with my tenant insurance plan. Some people are capable of breaking into a unit with a disc lock without leaving a mark on the latch.

    I wonder would video surveillance of the lock cutting happening be enough?
    Not sure. I would think so, but policies vary so much as do state laws. Burglaries are not an issue at our facility and we use cylinder locks which require drilling so I haven't done a deep dive into all the ins and outs of it like I would normally.

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    • #32
      Huh, I don't know what the outcome of the tenant insurance requests after our break in. I do know that a tenant who lost a bunch of expensive stuff couldn't prove it because he didn't have photos or receipts etc. I provided police reports and pics of the damaged locks for any insurance co that requested it.
      Even duct-tape can't fix stupid. But it can muffle the noises.

      WA State

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      • #33
        Originally posted by T_Champeau View Post

        Not sure. I would think so, but policies vary so much as do state laws. Burglaries are not an issue at our facility and we use cylinder locks which require drilling so I haven't done a deep dive into all the ins and outs of it like I would normally.
        So I just contacted SafeStor about this issue. And what it comes down to is in the police report that it needs to be reported as a burglary with forced entry.

        So the tenant needs to prove forced entry to the unit. This can be done via video evidence or signs of damage to the door. I asked the person how do I protect a customer from a case where a lock is cut and no evidence is left behind. He said the tenant would need to have photo evidence of their unit locked with their lock. Which they could show to the police to prove a lock was there and removed.

        I am not sure how that would really prove something as you wouldn't be able to prove that someone with a key didn't remove it.

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        • #34
          Originally posted by RandyL View Post

          So I just contacted SafeStor about this issue. And what it comes down to is in the police report that it needs to be reported as a burglary with forced entry.

          So the tenant needs to prove forced entry to the unit. This can be done via video evidence or signs of damage to the door. I asked the person how do I protect a customer from a case where a lock is cut and no evidence is left behind. He said the tenant would need to have photo evidence of their unit locked with their lock. Which they could show to the police to prove a lock was there and removed.
          ..and good luck getting a policeman to look at a photo of a lock and then state in the police report that it was a forced entry.

          This is all double talk by the "insurance" companies. A policeman won't state it's forced entry without evidence of forced entry.

          I've said it before, one of the top 3 selling points I use on my phone pitch is that "I don't require you to buy useless 'insurance' from me or any other type of blatant ripoff". I can't tell you how powerful that is with so many potential customers, people know it's just a hidden fee.

          How happy are you when you find a great rate on a hotel room, only to get to the checkout screen and see a $40 per day "resort fee"?.
          Yeah, that's how these customers feel. I hope all the big storage companies keep requiring it though, it's good for my business.
          Last edited by Storman; 27th January 2020, 05:49 PM.
          In no way affiliated with Storman software.

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          • #35
            Originally posted by Storman View Post

            ..and good luck getting a policeman to look at a photo of a lock and then state in the police report that it was a forced entry.

            This is all double talk by the "insurance" companies. A policeman won't state it's forced entry without evidence of forced entry.

            I've said it before, one of the top 3 selling points I use on my phone pitch is that "I don't require you to buy useless 'insurance' from me or any other type of blatant ripoff". I can't tell you how powerful that is with so many potential customers, people know it's just a hidden fee.

            How happy are you when you find a great rate on a hotel room, only to get to the checkout screen and see a $40 per day "resort fee"?.
            Yeah, that's how these customers feel. I hope all the big storage companies keep requiring it though, it's good for my business.
            I have mixed feelings about insurance. Yes, it's a revenue generator. Yes, I think our industry prices are puffed up. BUT, I've seen a lot of cases in my old job (disaster recovery and home fires) where people without insurance have a MUCH more difficult time recovering (a lot of times they basically didn't) than people who do have insurance. Especially if they are moving and all their furniture and home goods are in the unit. (Their homeowner's insurance might be suspended while they are in between houses too). That's a big cost to replace.

            A lot of it comes down to what the customer is storing in the unit. I like to think that if it's worth storing then it's worth insuring.

            However, another point to consider is liability to the company. Depending on your state, by not ensuring your customers insure their things, you open yourself up to a potential lawsuit even if the lease says you are not responsible for the contents. Even if you win, you still end up paying in court/lawyer fees.

            Finding the right balance between a good insurance plan that covers what your tenants ACTUALLY need and won't cost them too much is the trick. Plenty of landlords require a tenant have renter's insurance and they don't benefit from that requirement in a direct, financial way.

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            • #36
              My relief manager was here today (acting maintenance) and he said at one of our sister facilities they'd had flooding from a record heavy rain and the self storage insurance didn't cover any of it.
              Even duct-tape can't fix stupid. But it can muffle the noises.

              WA State

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              • #37
                Originally posted by KrisinNC View Post
                My relief manager was here today (acting maintenance) and he said at one of our sister facilities they'd had flooding from a record heavy rain and the self storage insurance didn't cover any of it.
                Flood coverage can be gotten with a contents only policy from a licensed flood insurance sales person.

                Floods require special coverage no matter if it is for storage or your home.

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                • #38
                  Originally posted by KrisinNC View Post
                  My relief manager was here today (acting maintenance) and he said at one of our sister facilities they'd had flooding from a record heavy rain and the self storage insurance didn't cover any of it.
                  That's interesting. Having lived in Louisiana previously, I've been really concerned about getting water damage coverage for our tenants. Because nothing is ever straightforward, different companies seem to have different rules when it comes to water damage.

                  The big difference to insurance seems to be Surface water flooding and falling water flooding. Surface water flooding is water from rising lakes, rivers, storm surge from hurricanes, etc. and falling water is your hurricane rain & heavy rainstorms like KrisinNC got.

                  I have yet to find a company that will cover surface water, which actually isn't that different than normal flood protection. And frankly it's a disservice to your customers to build in an area that's at high risk from surface flooding without taking precautions. RandyL is right, for homes and apartments normal insurance won't cover flood damage and there's plenty of places that are considered too high risk for even the govt. to insure.

                  However, I have hope! I have found a few insurance companies that say they will cover falling water (I'm still waiting to see it in writing before I believe them though!). Of course sometimes that coverage seems to cost the company extra (of course!) or needs to be specially requested. KrisinNC if you don't mind sharing what insurance do you all use? I'm in the middle of researching potential companies for my facility so I'm really curious.

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                  • #39
                    Originally posted by T_Champeau View Post

                    That's interesting. Having lived in Louisiana previously, I've been really concerned about getting water damage coverage for our tenants. Because nothing is ever straightforward, different companies seem to have different rules when it comes to water damage.

                    The big difference to insurance seems to be Surface water flooding and falling water flooding. Surface water flooding is water from rising lakes, rivers, storm surge from hurricanes, etc. and falling water is your hurricane rain & heavy rainstorms like KrisinNC got.

                    I have yet to find a company that will cover surface water, which actually isn't that different than normal flood protection. And frankly it's a disservice to your customers to build in an area that's at high risk from surface flooding without taking precautions. RandyL is right, for homes and apartments normal insurance won't cover flood damage and there's plenty of places that are considered too high risk for even the govt. to insure.

                    However, I have hope! I have found a few insurance companies that say they will cover falling water (I'm still waiting to see it in writing before I believe them though!). Of course sometimes that coverage seems to cost the company extra (of course!) or needs to be specially requested. KrisinNC if you don't mind sharing what insurance do you all use? I'm in the middle of researching potential companies for my facility so I'm really curious.
                    We use Bader-however they've been bought up by the self storage monopoly headed by Sparefoot.
                    Even duct-tape can't fix stupid. But it can muffle the noises.

                    WA State

                    Comment


                    • #40
                      We had a very successful retired contract lawyer storing her goods with us after she sold her house to the travel around the world. She was very concerned about insurance and covering her goods. She looked into the policy that was offered through our software. I will NOT name any names but let's just say she was NOT impressed. So she researched for plans on her own time and found one she felt okay about. We started encouraging tenants to purchase this insurance as well on their own time and dime thus her confidence in it.

                      Well, turns out that insurance didn't come through for one of our tenants who rightfully deserved to be reimbursed for something that occurred in her unit. It had to do with water damage. All of this talk about flooding insurance on this thread is spot on. Apparently, if she has spent an extra $1.00 a month she would have been good to go. It's a major disappointment. If any storage insurance companies are reading this, please know there is lost faith in your reimbursements. Your policies/coverages are unclear. Make it right.

                      We now do NOT offer insurance but encourage our tenants to speak with their current agent who handles their rental or home insurance. It's surprising how many rental/homeowners plans offer coverage for a percentage of goods in storage. USAA does a nice job covering our beloved military folks and I recently called my Allstate agent to see if I could add an addendum that would cover my goods in storage. She said that 30 % of my contents were covered in storage already.
                      Great discussion.

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                      • #41
                        Originally posted by KrisinNC View Post

                        We use Bader-however they've been bought up by the self storage monopoly headed by Sparefoot.
                        Thanks! They are an interesting company and one of the few I looked at that did not have an accredited BBB rating which always raises an eyebrow when dealing with an insurance company. Hopefully under Sparefoot/storable they will become a bit more reliable/transparent.

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                        • #42
                          Originally posted by NCstorageguru View Post

                          We now do NOT offer insurance but encourage our tenants to speak with their current agent who handles their rental or home insurance. It's surprising how many rental/homeowners plans offer coverage for a percentage of goods in storage. USAA does a nice job covering our beloved military folks and I recently called my Allstate agent to see if I could add an addendum that would cover my goods in storage. She said that 30 % of my contents were covered in storage already.
                          I do the same, encourage customers to contact their existing "real" insurance carriers about adding their storage contents to their policies. In many cases over the years, people have told me that their agents have added their stored contents to their policies without additional charge. Granted, many of my customers don't own a home or pay for renter's insurance, so this option doesn't work for them.
                          Last edited by Storman; 28th January 2020, 06:47 PM.
                          In no way affiliated with Storman software.

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