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14 Optional Coverages

Self-Storage Businesses Like Yours Often Buy

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What's Included

Self-storage businesses have special considerations when it comes to running a business. To protect your business, you will need insurance custom-tailored for self-storage operations. Our FREE guide includes 14 optional coverages you should consider for your self-storage business.

  • Business Income Coverage
  • Business Income for Off-Premises Utility Services Coverage
  • Computer and Media Coverage
  • Non-Owned Auto/Hired Auto Coverage
  • Commercial Umbrella Liability Policy
  • Employee Benefits Liability Coverage
  • Data Breach Coverage
  • Life Insurance
  • Employee Dishonesty
  • Tenants Legal Liability
  • Employee Practices Liability – EPLI
  • Customers’ Good’s Legal Liability
  • Sale & Disposal Legal Liability
  • Resident Manager’s Personal Liability
Auto

Errors and Omissions Insurance (E&O)

Risk Factor

Property management firms have many exposures that can lead to a lawsuit. Dealing with boards of directors, owners, residents, employees, vendors and regulatory authorities can and often does lead to lawsuits.

Solution

Errors and omissions liability insurance protects property management firms if a client alleges that you were professionally negligent or failed to perform professional duties.

Commercial Property Insurance

Risk Factor

Property management firms may face serious financial consequences from property loss by fire, wind or other causes.

Solution

A business owners policy (BOP) or package policy providing commercial property insurance will provide coverage for damage to a building you own, along with coverage for personal property and income lost due to a covered cause of loss.

General Liability

Risk Factor

Property management firms can be sued for injuries or property damage at their office and sometimes at the properties they manage.

Solution

General liability insurance is an absolute necessity for any property management firm. It provides coverage for legal fees and judgments when the firm is named in a covered lawsuit for bodily injury, property damage, associated medical costs and more.

Crime and Fidelity Coverage

Risk Factor

As a property management firm, you have access to your clients’ money. Illegal activity such as forgery or theft can occur.

Solution

Crime and fidelity coverage is designed to provide coverage for theft of not only money and personal property owned by the firm, but money that the firm has in their custody for their clients.

Cyber Liability Insurance

Risk Factor

Property management firms have exposures including the need for protection of privacy, data and financial information for their clients. Breach of data can result in costly fees and lawsuits for the association if held liable.

Solution

Cyber liability coverage covers fees and lawsuits resulting from the breach of personal data in the event your firm is liable.

Hired and Non-Owned Auto Liability Insurance

Risk Factor

Property managers must drive to the sites they manage regularly. Accidents can and do happen. If an employee were to get into an auto accident while working, the management firm could be named in a suit by the injured party.

Solution

If any automobiles are owned by the property management firm, a commercial auto insurance policy should be obtained. In addition, hired and non-owned auto liability should be maintained in any case to provide coverage in the event an employee gets into an accident while using their own car.

Get Your Free Guide

This exclusive guide allows you to identify potential gaps in insurance coverage for your self-storage business.

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What Our Clients Say

Saved over $1,100 a Year! We were able to qualified for a preferred insurance program resulting in $1,100 in annual savings. It is nice to know we have an insurance agent that is always looking out for our best interests.

B. KeeneyCollegeville

Meschter Insurance…We saved thousands! We were with another agency for over 10 years handling over 10 policies for both our business and personal. Here is what they did for us…Meschter saved us thousands for better coverage in every policy. I am so mad we waited for so long…I did the search on the internet blindly to get some pricing…what a nightmare 20 agents rounding the corners and went like fire after our lead…then a friend said…WHAT ABOUT MESCHTER!!! This is awesome just for faxing over some sheets BIG money comes back in our pocket!!!

D. DornNorth Wales, PA

Saved $450 – Better Coverage – Excellent Service! Every year my premium went up – this time $140. in just 6 months. Researched 9 companies – went through 1 bait and switch. Referred by a co-worker to try Meschter Insurance – got better coverage and excellent customer service and saved over $450.

A. BrownholtzCo founder, Coffee Inc