How Much Is Insurance For A Storage Facility In Canada?
The storage industry is booming in Canada. Many storage facilities are popping up beside highways, cities, and industrial parks across Canada. Not only do storage facilities offer the independence that comes with owning your business, but they can also help build significant 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 facility owners need to understand the operating costs and get the best pricing for products and services needed for self-storage insurance coverage.
Thankfully, the experienced commercial insurance brokers at ALIGNED Insurance can help with all the insurance needs for your storage facility and help answer questions like “How much is insurance for a self-storage facility in Canada?” or “What are my coverage options?” 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 The Cost of Self-Storage Facility Insurance In Canada
There are numerous factors that go into determining how much insurance is for a self-storage facility in Canada, and actuarial scientists spend hours painstakingly analyzing all considerations, huge amounts of data, claims histories, etc. They take all that data and distill it down into rating factors, which include some of the following:
- Square footage of the storage facility
- Construction materials used to make us the storage facility
- Quality of physical protection at the storage facility, such as cameras, gates, security systems, guards, or 24-hour onsite staff
- Amount of revenue generated by the storage units
- Size and type of each rented storage unit
- Historic claims
- % of units rented
- Location
- Numerous others
ALIGNED Across Canada100% Canadian-owned, ALIGNED is a premiere insurance brokerage serving thousands of 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. If you’re a storage unit company looking to purchase insurance, want to learn about your insurance options, need a custom insurance package, or have any storage unit insurance questions, please don’t hesitate to reach out to our team for their expert advice. Click here and get a free quote for self-storage insurance today! |
