Does Facility Insurance Protect You Against a Tenant Not Paying Their Rent?
In business, there are times when customers do not follow the rules of paying for services they receive. This is not only frustrating to handle, but it also has a negative impact on business profits and cause you to have to take further action against the client. In the self-storage business, when customers don’t pay for the space they use, their items have to be removed and you lose out on the money they were supposed to pay. Once the items are removed, it is still possible for a facility to face a lawsuit, even though the client didn’t pay for the space. Fortunately, there is self-storage facility insurance that protects against this legal action. Insurance for self-storage facilities helps business owners to be able to continue business processes when they encounter tenants who refuse to pay to use the storage unit.
Liability Coverage for Delinquent Tenants
In the event that a tenant is delinquent and has not paid to store their items, there are legal regulations that allow the owner to remove the items. However, the regulations must be explicitly followed, and one infraction can make the owner liable. At StorInsure, our professionals are familiar with how these laws work and can show how insurance for self-storage facilities works in conjunction with the laws. Self-storage facility insurance provides the protection business owners need when they have to remove or discard the items of delinquent tenants. It is obvious that they would not be happy about this and may initiate a lawsuit. In that case, a business owner would need to be prepared to defend their rights and have the insurance coverage that covers any cost with doing so.
If you would like to learn more about the types of liability coverage offered at StorInsure, contact us for more information. One of our professionals can answer your questions and get your business insured today.
