In the intricate, high-stakes world of architecture and engineering, every blueprint drawn and calculation made carries immense responsibility. Professionals in these fields face unique risks that require specialized protection. Whether you’re catering to architects designing skyscrapers or engineers developing innovative infrastructure,...
Hidden Hazards: Identifying and Insuring Common Self-Storage Property Exposures
Self-storage facilities may look like typical brick-and-mortar business operations from the outside — but, when it comes to insurance coverage, they’re not. The truth is, with their distinct property exposures, self-storage facilities require a different approach to insurance coverage, one that accounts for their specific vulnerabilities. ...
How to Navigate Slip, Fall, and Injury Risks for Self-Storage Facilities
Self-storage facilities, sometimes perceived as low-risk environments, can unexpectedly become targets for liability issues, particularly in the category of slip, fall, and bodily injury claims. Picture this: An excited college student, arms full of boxes, takes a serious fall while walking down an interior hallway to their rented unit due to a...
Meeting the Growing Need for Expert Self-Storage Insurance
The self-storage industry has grown rapidly in the past several years, reaching an estimated market value of $44.37 billion, outpacing many other notable companies like Aflac, General Mills, Humana, and even 7-Eleven. The reason? People love their stuff — and they don’t want to part ways with it. According to Josh Leykam, MiniCo Vice...
Decoding Specialty BOPs: Tailored Insurance to Mitigate Self-Storage Risks
Most business owners understand the importance of having the right general liability (GL) insurance. What they may not know is that their GL policy isn’t all-inclusive and doesn’t provide protection for losses associated with business personal property as well as other critical coverages. A business owner’s policy (BOP) is an effective option for...
Self-Storage Demand Holds Steady With Few Signs of Post-Boom Decline
Americans love our stuff — and we’re so reluctant to part with it that we’re willing to pay someone else to store it. Storage Cafe estimates that 38% of Americans have used or plan to rent space to store what they can’t (or don’t want to) keep in their homes. Over the past two years, there’s been a boom in the self-storage industry, driven...
Protecting Property Owners’ Associations: Understanding Directors & Officers Liability Coverage
Property owners’ associations (POAs), such as homeowners’ associations and condo owners’ associations, play a crucial role in maintaining community grounds, shared buildings, and other assets. However, leading and managing these associations comes with its fair share of responsibilities and potential risks. “The individuals who serve on...
Behind Locked Doors: Unusual Finds in Self-Storage Units
Abandoned storage units have long held an aura of mystery and intrigue, captivating the public’s imagination through television shows like “Storage Wars” and “Auction Hunters.” And who could forget the scene in the classic horror film “Silence of the Lambs” where Clarice Starling, played by Jodie Foster, crawls into storage unit #31 in pursuit of...
4 Specialized Insurance Coverages for Self-Storage Businesses
Within the commercial real estate market, the self-storage industry stands out from the crowd. With its seeming immunity to economic fluctuations, the self-storage sector rode out the Great Recession, a global pandemic, and supply-chain disruptions and is currently seeing an upswing in new construction and expansion. Industry newcomers need to be...
MiniCo Announces Sale of its Publishing Division to Storelocal
Phoenix, AZ (March 8, 2023) – MiniCo Insurance Agency LLC (MiniCo) announced today that it has finalized the sale of its Publishing Division, effective March 1, 2023, to Storelocal Media Corporation (Storelocal). “It’s very exciting,” said Travis Morrow, Storelocal’s CEO, “Mini-Storage Messenger is not about just a magazine–it’s what it...
Insider Perspective: 2023 Trends to Watch in the Self-Storage Insurance Market
Insurance rates are rising, media is buzzing about a possible recession, and capital is becoming harder to find. We spoke with MiniCo VP of Underwriting and P&C Insurance expert, Josh Leykam, about how these factors are impacting commercial self-storage and what we can expect in the year ahead. Although no one can say for sure what 2023 will...