Hey, everyone, this is jim ross. Thanks for joining me again for the self storage show this episode talk about tenant insurance and, uh, got a cool video right on a cool video is going to scare you to death with some fire footage at a site and again.
Gonna have some other people coming on this show in the future that's can specifically talk about 10 insurance and you know their vendors from those companies and could talk more directly about that.
I'm looking at it more from the manager operator order, point of view when it comes toe tenant insurance and really, quite frankly, it just comes down to it.
It's just more. It's a win win in my eyes. You know, as as an owner of a site, i'm minimizing my liability.
Not if when something goes wrong at the site, you know, I could to save on okay here because our insurance company, you know, call them that they don't take care of you. This makes life so much easier on the manager point of view. Same thing.
You know, something happens at your location. Managers watching this, listening to this, you know?
Yeah, it's your fault. I don't care what's happened. You know, there was a break in. There was a fire.
Don't want to talk about that flood. What have you as a manager of the property, you're the face of the property. I pretty much automatic. That makes it your fault.
And i've been on that side of it, and it's terrible. You know, when you got customers pointing fingers and blaming you when something goes wrong, it would be much easier on you to say empathize and society what's happened?
Thankfully, you have. You know, your your insurance company that you got with us when you rented.
They will take care of you from beginning to end and make this ah, much easier process and just we don't have that someone in your corner. They help you out for this kind of stuff. What it does happen.
It's a life changer, you know, save your life when it comes to a lot of the stuff that could just be just be draining on you rather than speed is kind of talk about it.
I'm just sorry some footage here, and I gotta through these things in my pocket, I could I can show you later on. I just want to show you one video right now. It's yeah, it's kind of mind blowing.
Somebody pull it up real quick. You could do. Okay. It's coming eventually. I cool. Got that. All right, here we go.
Getting yeah, cool. Seeing that's make that bigger. Cool. There you go. This? Yeah, it's, ah, someone I know. It's here.
Some local to me and probably to my attention. I'm not gonna give me any more specifics than that. And this this guy, this is watch the video explain a little more later on, like and real quick those. Er well, listen to the podcast again.
Could be some dead air for a second. Sorry about that. So if you wanna watch this find on youtube, facebook. Look at the link, daniel. See it there? But stereo.
Yeah, and going back, these ones here, those kind of cuts. Uh, that's what the fire department does that come in with big still.
Just go through and cut, just to make sure there's no smoke and mirrors fire. That's gonna light more units on fire. So well, both start going down. Just cutting those units just to make sure nothing is still going on.
That's yeah. They don't have time for you to be cutting locks off and rolling doors up. They'll just still just cut through the door. Yeah. I can't imagine having that your site going through this.
I mean, just makes my heart hurt. Okay, drawing. And from what I gathered, you have to talk this this, uh, managers properties to make sure, but when I heard it sounded like it started with a car fire.
I don't think I was working on his car in the unit. Don't know, but start originally in a car, that car caught fire went boom.
And as you'll see, there are other cars adjacent. And once it hit those cars and they went up, it just it just castigated. It's the whole entire row of the site is gone, right?
Oh, yeah. Just total destruction. Okay. And it goes on. And given that, see, that was the cars that was just, uh, sure they had fuel on them, and yeah, they went boom.
Okay, on this is where it all started. Their ugo could do que yeah. I just can't imagine going through that scenario as a manager and owner, obviously. But having to deal with that?
It just keeps going. Okay, a few more seconds here. Yeah, there we go. Kind of ends there. Yeah, i'm just looking at that.
These guys, their entire life, all their perceptions air in that unit. That one got saved, but it was seconds away from being gone and torched.
Oh, so yeah, kind of makes you a little sick, you know, watching that. But sometimes it takes watching something like that be make you really think about, you know, do I need it?
I should need it. I should get it. I'll talk to some owners and i've had this discussion and they said, I don't wanna be greedy.
I don't want to come off greedy and making, you know, my customers get 10 insurance, and it's like you're doing them. You have to kind of flip it.
You're doing them a favor. You know, they're trusting you with their life. With all their goods. Are prized possessions, you know you might like. I didn't think it might be junk, but it's everything for them.
You know that I wouldn't be taking the time and energy and money to spend come to your site and store their items. Great. We'll do them that one extra favor. They're they're trusting you with everything.
You're the professionals, you know? You're really that that's your business. Act like it. Okay. This is a very important part of looking out for your customer.
Okay? You might say I want to get my customers the best deals. I'm gonna give my customers the best customer service and blah, blah, blah.
Great. Okay. Oh, step up. Make sure they have the best coverage when something goes wrong. If something goes wrong, just you're looking out for him.
They're not thinking, you know, i'm starting my stuff here, you know, there's something could go wrong.
They're not. They're not that mentality. So it's your job. As as the business owner and that manager to make sure they're aware that here, here's here's our insurance that we have i'm not gonna get into specifically, like, make it mandatory.
I just to me, it's almost like alipay cool. When I go on auto pay, get correct information. It comes doing this every time this month will hit your card.
You don't get in late fees, probably movement process. Boom. This is our insurance. It's just much mud this much month, this much coverage this is added on your monthly insurance or your monthly payment.
Just it's just part of the moving process. You know, you don't have to do a high sales tactic when when it comes to this, because again, that's just it just comes with the part of writing and your facility, and it comes with insurance.
And a lot of times of these insurance companies. They'll take the time multiple call you and talk to you and talk to managers. They'll have some cells go through just to see how how to actually present it correctly. So and more comfortable representing it and then rolling it into your program, rolling into your facility again, looking after the customer is a win for them. It's a win for you because you're gonna get some extra revenue as well. I mean, we're not gonna get into that aspect of it as far as a revenue stream, but it can be huge.
Uh, in many, many cases on gay again, I look at it. Maura's just a now have to worry about. It's the mental anguish of something went wrong, but again, as a revenue management, uh, aspect of this, it's it's massive.
Just look at the reeds and they've been doing this for years. They're not dumb. They see they see these. There's their streams of revenue coming in from their insurance.
Coverage is it's huge. So they're doing it. Okay, there's probably a good reason. And nowadays, playing insurance companies that have great customer service, that great, uh, premiums, you know that they will share with you as well have that revenue share.
It's there's there's no reason not to anymore, okay, it's it's much more acceptable. Just put that way. Sometimes I get the accurate that pushback from owners going on.
You know, I don't wanna be the only one in my area that's that's doing this. I'm gonna lose some reynolds. No, it's it's much, much more acceptable than it was just a few years ago.
Okay, a lot of companies were doing this, so jump on board again. I'm not gonna sit here and planting flags. They call these guys, call these guys where there's plenty of them out there.
Just start talking to him. Get that conversation going with they'll do for training what they do for sales. How to roll this out, how to get it to your current customers on your current customer list to get them on board. And, of course, your future customers.
Because, yeah, last thing you want to have to go through and have a fire like that on deal with something like that and just it might be out. Okay.
It doesn't take much for something like that to happen. And an instant the end of get. So let's wrap it up with that. I'll get off my soapbox for a minute and have a great rest of your day.
Guys, uh, after I signed off a look at the comments. So again, thanks so much for tuning in to the storage show.
I'll be back. Take care. Have a good day. Bye.
Video walk through of a fire at a self storage facility.
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