Public Storage Launches Tenant-Insurance Product for Other Self-Storage Operators

Public Storage Inc., a self-storage real estate investment trust (REIT) and management company, is preparing to launch a new tenant-insurance program for the industry called Savvy Storage. Expected to be available in November, the product will be offered through subsidiary PSCC Inc., which also administers the REIT’s internal tenant-insurance plan, according to a press release.

To begin, Savvy Storage will be integrated with Easy Storage, SiteLink and storEdge facility-management software from Storable, allowing facility operators who use those products to offer the insurance to their customers.

“We are excited to share the unique benefits of our storage insurance program with fellow property owners and their customers,” said Marshann Varley, president of PSCC. “There are more than 45,000 self-storage facilities across the United States that could benefit from Savvy. We look forward to expanding the offering through future integrations with additional software platforms and property owners.”

Based in Glendale, California, Public Storage has interests in 2,888 self-storage facilities in 40 states, with approximately 206 million net rentable square feet. It holds a 35% interest in Shurgard Self Storage Ltd., which has 266 facilities in seven European countries, with approximately 15 million net rentable square feet.

Source: Business Wire, Public Storage Launches Savvy Insurance to Serve the Self-Storage Industry