The importance of the role that an experienced independent insurance agent with specialization in the self-storage industry can play in the success of a self-storage business would be difficult to overstate. MiniCo recognizes the value that agents bring to the insurance process and strives to support our agent partners so they can better support business owners and policyholders.
Insurance Knowledge and Experience
Your clients may be the experts at operating self-storage facilities, but agents understand the fine points of coverages, limits, deductibles, valuation, and identifying exposures. Insurance agents are licensed professionals committed to increasing their knowledge and staying current on insurance laws and coverage options through continuing education. Agencies also tend to have a well-established infrastructure in place to provide effective and informed customer service.
Agents function as a representative of a client’s business and have a fiduciary responsibility to that business. They are able to negotiate with insurance carriers on a client’s behalf to obtain the best coverage, terms, and premium. In the event of a claim, the agent will represent the policyholder’s interests to help ensure a timely resolution with the best possible outcome for the self-storage operation.
Access to Multiple Markets
Independent insurance agents are not tied to a particular carrier, so they have access to a wide range of markets to place coverage for various exposures. Each self-storage operation is unique and requires a customized portfolio of insurance coverages. In addition to a specialty business owner policy, a self-storage business may benefit from additional coverages such as umbrella coverage, cyber insurance, equipment breakdown, wind and hail options, workers compensation, and others.
Risk Management Support
In addition to insurance, agents are a knowledgeable resource for risk management information. Incorporating effective risk management strategies into daily operations can reduce the risk of property and liability claims as well as help reduce insurance premiums. Underwriters evaluate a range of risk characteristics when calculating insurance premium. Agents understand the risks that a business owner can influence, such as staff training, operational procedures, security, maintenance, and management practices, and can provide guidance to help make an operation a “better risk” in the eyes of an underwriter.
Independent insurance agents are valuable partners to both business owners and insurance providers, and their specialized experience can provide benefits that can help protect a client’s business for the long term.
President and CEO