MiniCo Insurance Agency LLC, a provider of insurance products for the self-storage industry, has introduced a new tenant-insurance solution for self-storage operators. The company is partnering with Charter Atlantic Insurance Co. to provide captive-insurance services, enabling storage operators to share in the profit from the program. The insurance is underwritten by an “A” rated insurance carrier, according to a MiniCo press release.
The new tenant-insurance program offers a proprietary structure that has the potential for self-storage owners to generate revenue, build wealth, increase cash flow and net operating income, increase market valuation, and enhance their return on investment, the release said. Business owners will benefit from direct ownership of their own independently operated captive-series business units as well as ongoing business support from MiniCo. Support elements include risk analysis, expert-claims management and staff training.
“The combined expertise of MiniCo and Charter Atlantic, with underwriting by our ‘A’ rated insurance partner, offers an outstanding opportunity to self-storage operators looking to expand their businesses and maximize their revenue,” said Mike Schofield, CEO and president.
MiniCo was founded in 1974 as a provider of specialty insurance products and publications for the self-storage industry. The company offers multiple specialty property and casualty insurance products for a variety of industries and exposures, including self-storage. MiniCo also operates MiniCo Insurance Agency of Canada Inc. Both are members of the Aran Insurance Services Group.