How Much Is Insurance For A Storage Facility In Canada?

How Much Is Insurance For A Storage Facility In Canada?

The storage industry is booming in Canada for a number of reasons and increasingly sites are popping up beside highways, near cities, in industrial parks all across Canada.  Not only do storage facilities offer the independence that comes with owning your business, but they can help build considerable wealth as they generate considerable and consistent cash and can be a great way to invest in the real estate market.  However, the storage industry is also incredibly competitive and understanding the operating costs and getting the best pricing for products and services needed for insurance for a storage facility is very important.

Thankfully the experienced commercial insurance brokers at the Canadian insurance brokerage ALIGNED Insurance can help with all the insurance needs for your storage facility and help answer questions like “how much is insurance for a storage facility in Canada?”  In addition, great organizations like the Canadian Self Storage Association (CSSA) are dedicated to helping those involved and interested in the self-storage industry be successful.

Factors That Impact How Much Is Insurance For A Storage Facility In Canada

There are numerous factors that go into determining how much is insurance for a storage facility in Canada and actuarial scientists spend hours painstakingly analyzing all considerations, huge amounts of data, claims histories etc. etc.  They take all that data and distill it down into rating factors which include some of the following:

  1. Square footage of the storage facility
  2. Construction materials used to make us the storage facility
  3. Quality of physical protection at the storage facility like cameras, gates, security system, guards or 24-hour onsite staff etc.
  4. Amount of revenue generated by the facility
  5. Size and type of units being rented
  6. Historic claims
  7. % of units rented
  8. Location
  9. Numerous others
ALIGNED Across Canada   

100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.


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