SafeLease Launches Specialized Insurance Programs for Self-Storage Properties
SafeLease has announced the nationwide launch of its specialized insurance programs for self-storage properties, targeting independent retail agents and brokers across the contiguous United States. This initiative aims to offer tailored property and casualty insurance solutions, ensuring efficient quotes and streamlined service, from submission through claims, for producers handling commercial self-storage risks.
The new program provides coverage with a Total Insurable Value (TIV) capacity extending up to $30 million per facility, with larger amounts available when needed. It caters to various facility types, including climate-controlled and non-climate-controlled properties, boat and RV storage, multi-story buildings, and sites in coastal or catastrophe (CAT) prone areas. All coverage is backed by insurance paper rated "A- VIII" or better by AM Best.
Under property coverage, SafeLease insures buildings and business personal property at replacement cost and offers 18 months of business income coverage. Options for equipment breakdown are available, alongside liability coverage which includes commercial general liability with standard limits, customer goods legal liability, sale and disposal liability, and terrorism coverage. Umbrella liability starts at $5 million, with higher limits available if needed.
Utilizing data-driven insights, SafeLease offers competitive pricing with efficient service for producers, supported by a dataset covering over 4,000 self-storage facilities. Submissions are flexible, accommodating email, a producer portal, ACORD forms, or Schedule of Values (SOVs) in various formats. The platform’s automatic document processing facilitates a typical 24-hour turnaround for quotes.
At SafeLease, a single team manages underwriting, services, and claims, ensuring consistency and expertise throughout the insurance process. This structure ensures quick responses and reduces follow-ups necessary from agents, thereby benefiting insured clients. Steven Stein, founder and CEO of SafeLease, emphasized the company's expansion to include trusted agents, as it broadens its strategy to meet diverse customer demands for purchasing options.
Interested agents can begin the appointment process and submit their initial proposals by visiting safelease.com/agents-brokers or via email at submissions@safelease.com. SafeLease, serving as a managing general agent in the self-storage sector, specializes in designing, underwriting, and distributing tailored insurance programs. Operational in over 4,000 locations nationwide, SafeLease's products are crafted to meet the specific requirements of self-storage operators and their clientele. More information is available at safelease.com.