Licensing + Compliance
get set up, stay kept up
let us set you up for success
The licensing process can be a long and daunting process. Once a facility has met the limited lines licensing requirement (per state), the facility operator must apply to hold a Self Storage Insurance license. This means the facility becomes a licensed producer & 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, and the policy number.
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, that 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.
because it’s cool to comply
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, correctiveness of behaviors toward tenants, and correct contractual information. It’s a necessary evil that is mandatory, can be complicated or confusing, and sucks up valuable time + 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.
At sage, compliance has, and always be, our cornerstone. We are the only carrier working with admitted paper that has filed rates in each of the states. As an insurance company, we can credit and debit our filed rates. This has all been approved by the Departments of Insurance and by our carriers.
Currently, we offer our licensed storage insurance program in more than half of the states across the nation, with sights set on several target markets.