Get answers to your questions.
About Savvy Storage Insurance Program
Why do I need the Savvy Storage Insurance Program?
As an owner, your rental agreement likely states that you are not responsible for insuring your customers’ property when it is stored at your facility, and that it is your customers’ responsibility to insure their own goods should something happen on the property. The Savvy Storage Insurance program is tailored specifically for stored property and provides added peace of mind for your customers with the broadest and most competitive coverage available.
Is the Savvy Storage Insurance Program currently offered in all states?
The Savvy Insurance is currently available in ALL states with the exception of: CA, IL, KY, LA, OH, PA, SC, and WA.
What is the difference between tenant insurance and a protection plan?
A protection plan is not insurance. Insurance is highly regulated by state insurance departments and is administered by insurance companies. Regulated insurance companies have reserves to pay customers in the event of a claim. In the case of a protection plan, a catastrophe such as a fire could trigger a lot of claims that you would be responsible for paying directly.
Don't most homeowners' policies cover customers' stored goods?
Not necessarily. Some homeowners’ policies provide limited coverage for items stored away from home. Your customers should review our “Questions to ask your insurance agent” document provided to them at move-in and use it as a guide to consult their insurance agent. The Savvy Storage Insurance Program is a tailored program designed to address the unique needs of your storage facility’s customers.
What types of property are eligible for coverage under the Savvy Storage Insurance Program?
Almost any personal or business property a customer stores can be eligible for coverage. There are a few types of items that are not covered under the policy, such as valuable papers, photographs, money, jewelry, furs, and animals. A complete list can be found in our brochure, and in the certificate of insurance.
Customer Enrollment, Claims & Cancellation
What types of losses are covered under the Savvy Storage Insurance Program?
The Savvy Storage Insurance Program covers loss or damage caused by water, flood, fire, smoke, hail, lightning, windstorm, vandalism and:
- Burglary – Covered, provided it is a result of visible signs of forced entry into a properly locked storage space
- Flood – This could be a real value added benefit for your customers
- Vermin – $250 of coverage is provided for damage caused by vermin to covered property while in storage at your facility (coverage is
- excluded when any food, food product, or ingestible is stored in the enclosed storage space with the insured property)
- Fungus – $250 of coverage is provided for damage caused by fungus to covered property while in storage at your facility. No sublimit in NY.
*This is meant to serve as a general description only. For more details on the coverage, exclusions and requirements of the policy, please refer to the certificate of insurance.
What is the cost of insurance and limits provided for my customers?
This insurance program provides $5,000 limits for a $15 monthly premium. Your customers can have peace of mind for less than 50 cents a day.
Is there a deductible for the Savvy Storage Insurance Program?
When your customers purchase insurance, in the case of a claim, they are responsible for the first $100 of any loss. This is their deductible. The insurance company will compensate them, based on the Terms and Conditions, for any amount above this $100 deductible. They will not be required to make any payment to Sedgwick, the claims administrator.
How do customers enroll in the Savvy Storage Insurance Program?
Your rental agreement requires all customers to have insurance on their goods in storage. One option is the Savvy Storage Insurance Program. Your customers will be automatically enrolled at the facility office or online when they sign their rental agreement and the premium will be waived by the insurance company for the first rental month. Coverage begins as soon as your customers are enrolled and move into their storage space. Coverage automatically cancels when they move out. The Savvy enrollment and cancellation process is designed to be hassle-free with the customer experience in mind. If after the first rental month, your customer hasn’t confirmed other coverage and cancelled the insurance, the next monthly premium will be billed.
When will my customers be billed?
The monthly insurance premium of $15 will be waived by the insurance company for the first rental month to allow your customer time to consult with their insurance agent and weigh their options. If after the first rental month, your customer hasn’t confirmed other coverage and cancelled the insurance, the next monthly premium will be billed.
Do my customers pay their insurance premium with their rent?
Yes, insurance premiums are paid with rent. They can cancel their insurance at any time and any unearned premium will be refunded.
What documents will my customers receive?
Customers will receive the following documents upon enrolling in the Savvy Storage Insurance program: completed insurance application, insurance certificate, insurance privacy notice, brochure, and questions to ask your insurance agent along with information on how to cancel insurance.
How do my customers cancel their insurance?
Your customers may cancel their insurance at any time online at SavvyStorageInsurance.com. They acknowledge 2 statements:
- Confirm that they have other coverage; and
- Confirm that they wish to cancel their insurance.
Please note that they are not required to upload proof of other coverage. Any unearned premium will be refunded.
What is my role in the cancellation process?
Your customers may request to cancel their insurance at any time online at SavvyStorageInsurance.com. Savvy will send a confirmation email to your customer letting them know that their insurance has been cancelled. Please allow three business days for the cancellation request to be completed.
How do my customers file a claim?
Customers can file a claim by calling the Savvy Storage Insurance Program Hotline toll free at 800-784-1290 and select “Option 1” or online at SavvyStorageInsurance.com.
What is the claims process for my customer?
If possible, the customer should notify the property manager when a loss is discovered. If the loss is due to burglary or vandalism, they will need to contact the police and file a police report. Customers should then protect their property from further loss. Once the claim is filed, they should wait until a claims adjuster has contacted them and advised them that they can discard their damaged goods. If this is not possible, they should take a photograph of the item(s) before discarding them.
How can I assist my customers with their claims?
Be sure to complete an incident report in your owner-operator portal at www.SavvyStorageInsurance.com. Once a claim is submitted, a Sedgwick claims adjuster will reach out to you for more information regarding the claim. Sedgwick is the independent claims adjusting firm that will handle your customer’s claim. Sedgwick has an experienced team dedicated to handling Savvy program claims. You can help by providing Sedgwick with the most accurate and complete answers to their questions.
How do I report an incident?
You can report an incident by completing an Incident Report Form through your owner-operator portal at www.SavvyStorageInsurance.com. In the event a claim is reported by your customer, the incident form will assist with Sedgwick’s claim investigation.
Owner Compensation, Benefits & Responsibilities
Will I be compensated for my participation in the Savvy Storage Insurance Program?
Yes, PSCC will pay $4 monthly for each occupied unit, regardless of their enrollment status in the Savvy Storage Insurance Program. However, we don’t encourage sales incentives or contests of any kind to enroll customers in the program.
What is expected from me as part of my participation in the Savvy Storage Insurance Program?
In return for compensation, we expect certain requirements from owner operators:
- The Savvy Storage Insurance program is the exclusive program offered to all customers and that any other insurance is cancelled.
- All customers must be presented with the Starr Indemnity Insurance application.
- All insurance materials should be present and visible on your office counter.
- Encourage customers to use theft deterrent locks.
- Repair any deficiencies at your properties.
- All employees must be trained when they are hired and on an annual basis, thereafter.
- You must also maintain your limited lines license in all states in which you operate.
- Monthly reports must be provided to us within 10 days after the end of the month.
- All premiums should be collected and remitted accurately and timely (with report to be submitted within 10 days after the end of the month).
- In the event of a claim, you’ll be required to cooperate with claims adjusters.
Will this be an easy transition/implementation?
Yes, we have a dedicated client relationship manager, hotline, and website in order to deliver white glove service. Our client relationship manager will work with you each step of the way to ensure easy implementation.
Do I need an insurance license to provide the Savvy Storage Insurance Program?
Yes, a limited lines insurance license is required in most states. We will assist you in obtaining and maintaining your limited lines insurance license. We will also pay the licensing fees for the first year!
How do I train my employees on the Savvy program?
We require your employees to take a training provided by us upon hire and on an annual basis thereafter.
Do I pay for marketing materials?
No, there is no cost to you for marketing materials
Can I insure my facility or facilities and property I own with the Savvy Storage Insurance Program?
Unfortunately no, the Savvy Program is designed exclusively to insure your customer’s property in enclosed storage units.
Who do I contact if I have questions that were not addressed above?
If you have any additional questions, you can email us at [email protected] or call us at 800-784-1290 option 4.
Who are the partners in the Savvy Storage Insurance Program?
- Program Administrator: PSCC, Inc. (Insurance Agency, a wholly owned subsidiary of Public Storage and licensed in all 50 states)
- Insurance Company: Starr Indemnity & Liability Company (Best Rated A XV)
- Claims Administrator: Sedgwick (One of the largest claims administrators in the world)
How do I sign up?
Signing up is as easy as completing a short application. Please email or call us at [email protected] or 800-784-1290 option 4 to get started.
Contact Us
Have additional questions about our Owners and Operators program?