Compliance is our cornerstone
Setting you up for success
Compliance with the Department of Insurance (DOI) should be an ongoing priority for any company you use to manage your tenant insurance program. It helps prevent unethical conduct and violations of the law, by setting up the correct internal processes and policies, keeping a specific focus on transparency, correctness of behaviors toward tenants, and correct contractual information. It’s a necessary evil that is mandatory, can be complicated or confusing, and drains valuable time and resources. Don’t believe us? Check out this guide of compliance-related facts and questions, you might not even know you should be thinking about.
Licensing
The licensing process can be daunting. A facility operator must apply to hold a Self Storage Insurance license. This means the facility becomes a limited lines – licensed entity and is given the green light, by the Department of Insurance, to sell self-storage coverage to its tenants. A master policy is then issued to the facility.
When tenants enroll in the Sage Tenant Insurance Program, they receive a certificate of insurance, detailing their rights under the insurance policy.
Since each state has its own set of regulations and requirements set out by their Department of Insurance, it is of the upmost importance that all steps of each phase are executed with attention to detail and patience.
At Sage, we believe that setting you up for success starts with setting you up successfully. The transition to a tenant insurance program doesn’t end at the licensing phase, and neither do we.
We’re by your side every step of the way to ensure a seamless switch to Sage, which won’t interrupt your daily operations. In fact, we’ve even created this visual guide that clearly outlines exactly what we need from you, how long you can expect to wait, and what we’ll be doing in that time. You’re never left in the dark or hung out to dry.