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Self-Storage Center

Self-storage businesses face unique property and liability risks. This is the case because they cater to a diverse mix of customers and personal property.

Self-storage businesses usually do not own the items customers store in their facilities. They therefore need to have insurance to protect both customers and the property they store.

Insuring Customer and Property Risks

Self-storage unit customers and their property each face risks on the business' property. The business could negligently expose the customers and the items to damage risks. A variety of insurance options may provide protection for the business in case its actions harm the customer.

  • Business Liability Insurance: Stepping into a self-storage center property may pose injury risks to customers. For example, a customer may slip and fall on the premises and break a leg. The customer may sue the business and allege that the business's neglect caused the injury. Liability coverage may help the business cover legal costs or restitution for the injury.
  • Errors & Omissions Coverage: A business' professional mistakes may cause financial harm to a client. For example, billing mistakes may cause clients to pay more than they should in rent. They might wind up losing thousands of dollars in accidental costs. This coverage can help the business mitigate damages from such actions.
  • Customer Goods Legal Liability Coverage: Remember, customer goods remain the property of their owners despite their accommodation in a storage facility. The customer might claim the business caused damage the property might have sustained while in storage. They might sue or request compensation for the damaged property. Customer goods coverage can help the business compensate customers for the lost property.
  • Selling Liability Protection: Many storage units have a legal right to evict customers. If customers don't claim items in the unit, the facility can often sell the unclaimed property. However, should the company make a mistake, it may wind up selling items it was not legally entitled to dispose of. A dispossessed customer may sue the business for damages. This coverage can help the business in case it improperly sells storage unit items.

To reduce liability risks in your storage facility, establish proper lines of business insurance coverage. Then make sure you clearly delineate the customers' and business' respective responsibilities for safeguarding property. Finally, secure your property to make it safer for both the renters and their personal items.

Do you need coverage? Call Southwest Commercial Insurance at (737) 777-6420 for a self-storage center insurance quote today.

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202 Walton Way, Suite 219 | Cedar Park, TX 78613 | Phone: 737.777.6420 | Fax: 512.276.6755
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