Ponderosa Insurance Agency LLC, a subsidiary of Repwest Insurance Co., has introduced a property and liability insurance program for self-storage businesses. The new offering joins the company’s signature tenant-insurance product, Safestor. Along with its broader coverage, the program is priced 40 percent to 60 percent less than other commercial policies in the self-storage market, according to a company press release. It’s backed by two insurance companies that are rated A++ by A.M. Best, the release stated.
The program’s best rates are reserved for storage operators who are members of the U-Haul Neighborhood Dealer Network and U-Haul Self-Storage Affiliation. “The U-Haul Affiliation lowers a self-storage operator’s risk and exposure and, thus, lowers insurance premiums,” said Doug Bell, president of Repwest. “Having two of the largest insurance companies in the world partner with Ponderosa and U-Haul is positive proof that the U-Haul Self-Storage Affiliation works.”
“Almost any self-storage operator can join the program, and once they see the cost savings and the benefits of offering Safestor, most are eager to join,” added Blake Johnson, program director.
Ponderosa has offered specialized insurance to the self-storage industry since 1973.