SBOA: The Magazine Fall 2015 Edition | Page 6

Improvements to Tenant Insurance Made by Storage Owners About the SBOATI OPP Program Here are some of the benefits: Improvements to Tenant Insurance Made by Storage Owners S The program is extremely simple for your facility staff. Discussion with tenants about insurance has been nearly eliminated. • Training is quick and easy. No more worries that your staff is engaged in insurance transactions • Greatly increased performance. The new program captures nearly 100% participation on new moveins. • Claims reporting is now available to tenants 24 hours/7 days a week/365 days a year. • All tenants now have peace of mind that their items are covered. • Coverage is primary. Vehicles and boats in enclosed units are included at the same low price. • Rodent and Replacement Cost options are available for a small increase. By Mario Macaluso BOA Tenant Insurance was created by self-storage owners for self-storage owners. Our mission is – and always will be – to create an opportunity for owners and operators to deliver a great product and service to their customers, while sharing in the success. We are extremely proud to be recognized by our peers as one of the marketplace leaders. For the past three years, SBOA Tenant Insurance (“SBOATI”) has been a recipient of the Inside Self Storage (ISS) Best of Business Award. These awards are a testament to the high level of satisfaction that our customers have for our products and services. In order to remain the best in our industry, we have developed enhancements to our product line to benefit your tenants with improved policy coverage and to benefit operators through programs focused on their specific needs. The Self Storage Association (“SSA”) has done an excellent job under the leadership of Tim Dietz creating a limited lines program in 21 states. The creation of the limited lines licenses makes the laws clear for the departments of insurance, selfstorage owners and consumers. Limited lines licenses now exist in most of the larger states. To take advantage of the expansion of limited lines licenses, we have enhanced our program to better benefit tenants and operators. In states with limited lines licenses, we are converting all current business to our new SBOA Tenant Insurance Renter’s Program. The Renter’s Program is available in all states with a limited lines license (AR, AZ, CA, FL, GA, IL, IN, KY, MD, MN, NC, NJ, Page 6 • NY, OH, OR, SC, TN, TX, UT, VA and WA). All operators on the current SBOA Tenant Insurance product will be converted to the Renter’s Program, and all tenants will immediately receive expanded coverage. If you are operating in a limited lines state, please call us to hear about the positive changes we’ve added to the Renter’s Program such as Primary Coverage and inclusion of vehicles or boats when stored in enclosed units with no additional cost to the tenant. We’ve also added attractive Rodent and Replacement Cost options. In states where Self Storage Limited Licenses do not exist yet, there is a clear need to protect site managers from action by regulators for selling without a license. SBOATI has developed a new program that does just that. This program, SBOA Tenant Insurance Operator Provided Program (“SBOATI OPP”), provides operators an easy to use and tested program that increases enrollments while decreasing risk of regulatory issues. We recently launched the program in Michigan with tremendous success. Here is just one of the customer testimonials we recently received: “As a shareholder, I was skeptical about the new SBOATI Operator Provided Program. It was a change from what we were used to. However, after using this program for the first month, I knew it was a success. I’m looking forward to implementing it in as many states as permitted – the program is easier and provides coverage for all of our tenants in the event of a loss. Thanks Cornerstone and SBOATI.” Kyle A. Schmutzler Simply Self Storage SVP & Authorized House Counsel SBOA Magazine - Fall 2015 Store management is delighted by the new program, too. Our test locations have not seen any decrease in rentals of storage units and have enjoyed significant increases in revenue. Here’s what Peter Spickenagel, Vice President of Operations at Storage Pros Management LLC has to say: “Storage Pros has been using the SBOATI Operator Provided Program in Michigan for a couple of months now. At first, I was not sure about this new program, but now I could not be happier with it. Our sales have increased, and our tenants can rest assured that their treasured items are covered. We are looking forward to implementing this program in several other states!” Protecting yourself and your customers is important. We look forward to introducing you to our enhanced Renter’s Program and our newest innovative product, the Operator Provided Program. Call us today at 888-596-5340 to choose your program. www.theSBOA.com