Some removers believe that expanding their business in to this sector is a natural step to consider. It is true that there are similarities between the sectors but there are also significant differences in risk profile that should be considered.

If you are thinking about a move in to this sector do consider insurance and risk management aspects early in your planning. PoundGates & Company currently insure over 50% of the UK`s Self Storage Association members and we have been involved in this rapidly expanding sector for the last four years.

Here are some useful tips.

Alarm System
If installing an alarm system make sure it meets the latest ACPO (Association of Chief Police Officers) guidelines to minimise the risk of false alarms. The alarm should be well manufactured and be subject to a maintenance contract. Most insurers will only acknowledge the existence of NSI (National Security Inspectorate) or SSAIB (Security Systems and Alarm Inspection Board) approved systems. Web site addresses for these two organisations to check for approval are www.nsi.org.uk and www.ssaib.org

Many self storage operators alarm each individual room which is centrally controlled at reception and only deactivate the alarm when the customer visits and needs access.

It is highly advisable to check that a proposed alarm system installer appears on one or both of these approved installers lists before committing to the costs of installation.

CCTV
Most insurers of self storage risks will prefer you to install CCTV internally as well as externally in order to provide full cover for customers’ goods in store. The system should be monitored at your reception, as well as having 24 hour recording with as many areas covered as possible. Again it would be a good idea to check out the costs of different systems at an early stage.

Companies installing and maintaining CCTV systems are subject to regulation by the SIA (Security Industry Authority), who run an approved contractors scheme. More about this can be viewed at their website www.the-sia.org.uk

Insurance Cover on Customer’s Goods
Self Storage operators must comply with the insurance industry regulations in the exact same way as the removals trade. The self storage sector has specific terms and conditions (normally called a ‘Licence Agreement’) which are tailored to this type of business. It is not recommended that operators try to use remover style terms of trade for this business.

Not all insurers will be happy to insure customers’ goods in a self storage risk without any transit risks being insured. Well in advance of the intended date for your self storage to start operating check that you have an insurance broker and insurer with the competence and desire to support this new business line.

PoundGates is a broker specialising in the provision of insurance & risk management solutions to the Removals and Self Storage sectors.

For further information please contact the PoundGates team
e-Mail: info@poundgates.com or 01473 216406
Authorised and regulated by the Financial Services Authority