RIPTENANTINSURANCE.COM

About 15 years ago, one Insurance company figured out that if there was a way to include the coverage with the tenants' rent, the process would be far more convenient. And when commission was offered to the storage operator, a huge market was developed. The idea was successful from the start. Owners were much more interested when they shared in the sales revenue of the product, and some of the smarter ones even compensated their mangers so they also became more involved in the sales effort... Storage owners didn't know that they needed licenses to sell tenant insurance so they treated it just like the sale of anything else. They also raised and lowered the price of the insurance without notifying their State Insurance Department…which was another violation... Tenant Insurance would have disappeared 10-12 years ago but lobbying efforts by associations, on the behalf of their paid Insurance sponsors, have kept it hanging around. You read that right, lobbyists have been working overtime..

Primary location: Phoenix United States