According to the Florida Division of Emergency Management, nearly 40% of small businesses that are forced to close following a disaster event never re-open for business. Knowing what to do after a storm hits is important. But planning ahead to prepare your business before disaster strikes is an equally critical step and one that many self-storage business owners overlook.
To help prepare your self-storage clients for the 2009 storm season, MiniCo Insurance has assembled the following resources from the U.S. Department of Homeland Security. Click on the links below to access the information. For additional resources, including planning resources for residences, visit www.ready.gov.
Every Business Should Have a Plan (booklet) Business Continuity and Disaster Preparedness Plan (form) What Are The Costs? (factsheet) Insurance Coverage Discussion Form Computer Hardware Inventory Form
Small businesses all around the country are under pressure to cut expenses, and insurance costs are typically one of the first items to be reviewed. In the event some of your self-storage clients approach you about lowering their premiums, MiniCo Insurance is here to assist you in analyzing each account from a risk management perspective.
You may be aware of the old adage “stepping over dollars to pick up nickels.” This is definitely a year in which your self-storage insureds may request revised quote options that include increasing their deductibles, dropping key coverages, lowering liability limits, or reducing their building values. However, a primary focus on premium savings could leave the insured exposed to a substantial outlay of dollars for uninsured and underinsured claims and the potential loss of the initial premium savings in the event of a major claim.
In addition, the replacement of an admitted carrier with a non-admitted carrier has been observed in today’s market as a tool to lower premium costs. Utilizing the non-admitted carrier may result in savings, but there are other risk factors that need to be considered when placing coverage with a non-admitted carrier. Regulatory, financial rating, comparable coverage, and mortgagee issues should be thoroughly reviewed prior to offering the non-admitted carrier as a viable option.
MiniCo Insurance is committed to working with you to ensure that your self-storage clients are getting cost-effective quality coverage to protect their valuable business investments.
Contact customercare@minico.com or 800-447-8383 for a coverage review.
MiniCo Insurance recently launched an updated version of its Web site for independent insurance agents, www.minicoinsurance.com. The biggest change is that the site now serves as a one-stop resource for agents to stay in touch with changes and developments the self-storage industry.
Features include: Self-storage news updates Streamlined access to applications and agent appointment forms Video presentations offering tips to help agents write more self-storage business Link to the MiniCo Publishing online store
Visit www.minicoinsurance.com to view the changes for yourself. We invite you to share your comments and suggestions by contacting customercare@minico.com.
MiniCo Insurance is now available in cyberspace! We have established social media profiles on a number of Web sites to provide updates and news to independent insurance agents. Find MiniCo Insurance at the following social networking sites for coverage updates, videos, and other information. Click on the listings below to be linked to our profile.
LinkedIn - MiniCo Insurance Facebook - MiniCo Insurance Twitter - MiniCo Insurance YouTube - MiniCo Insurance
The MiniCo Insurance Select Agent program rewards high-performing agencies with added benefits. Members of the MiniCo Select Agent program are eligible to receive expanded benefits at the Gold and Platinum levels.
At least four in-force policies with MiniCo Insurance Benefits include: Prospect lists for up to 15 ZIP codes Customized co-branded marketing flyer (PDF format) Membership in MiniCo's Preferred Referral Program Subscription to Key Agent bimonthly e-newsletter for independent insurance agents Subscription to e-Risk Management quarterly magazine for self-storage professionals Free subscription to Self-Storage Now! quarterly magazine for self-storage managers
At least ten in-force policies or $50,000 in total premium with MiniCo Insurance Benefits include: Prospect lists with prepared prospect letters Customized co-branded marketing flyer (printed format) Membership in MiniCo's Preferred Referral Program Teleconference services for presentations to large accounts including MiniCo executive support Subscription to Key Agent bimonthly e-newsletter for independent insurance agents Subscription to e-Risk Management quarterly magazine for self-storage professionals Free subscription to Self-Storage Now! quarterly magazine for self-storage managers Free subscription to Mini-Storage Messenger digital edition 50% discount on advertising in Mini-Storage Messenger
For more information contact Krys Morrison at kmorrison@minico.com or 800-447-8383.
