Safestor Tenant Insurance Offers Additional Options

Posted by Modern Storage Media on Oct 27, 2023 11:33:46 AM

The new Safestor® Tenant Insurance policy through Ponderosa Insurance® is now available in all 50 states, offering self-storage operators tenants more coverage options to accompany the industry's best rates. This includes offering tenants flood coverage for just $1 more per month on top of additional coverage.


The flood coverage protects tenants against damage to belongings from rising water (groundwater), which was previously unavailable. This supplement is in high demand in states that face weather events like hurricanes and consistent heavy rains. Non-flood rates continue to protect tenants against water coming into a self-storage unit from above, including leaks and busted pipes.


Additionally, U-Haul Affiliates can now offer up to $20,000 in insurance coverage through the Business Platform® in approved states. Self-storage operators can schedule an in-person demo by texting 602-894-1183.


"Our goal with the new policy is to enhance customer service," said Beverly Liu, Product Manager for Safestor Tenant Insurance. "The option of flood coverage is a significant addition and something self-storage operators have been requesting. We extend the same Safestor coverage on mobile units stored on-site at a storage facility, offering higher limits and removing the deductible involved in claims. This is a goodwill gesture to tenants."


Safestor, which is offered at thousands of U-Haul®-owned facilities across the U.S., is available to any self-storage facility through Ponderosa. Many independent U-Haul Self-Storage Affiliates® use Safestor with the Business Platform, although no U-Haul affiliation is needed to take advantage of Safestor's benefits.


There are no costs involved for self-storage operators that offer Safestor. Operators  sign up, go through an onboarding process, and then policy fees are collected from tenants and sent to Ponderosa along with reports. Operators keep an administration fee. When tenants need to file a claim, they do so through Service is offered 24/7, and Safestor tenant claims are expedited. A nationwide network of agents is available to assist tenants with claims departments located in Arizona, Nebraska and Pennsylvania.


"Because of our low rates, there is no reason for tenants not to insure their belongings," Liu noted. "It protects the facilities that offer Safestor by reducing their liability. 'Protecting your investment' continues to be our philosophy. This new policy offers very needed protection at a very reasonable price point for tenants."