Short answer: Mark makes tenant insurance (or tenant protection) mandatory and calls it a win-win. The owner’s policy doesn’t cover tenants’ belongings, so tenants get coverage for a modest monthly charge, the facility earns income, and it can also help the owner’s own insurance rates.^[1][2]

How Mark sets it up #

Tenant insurance is added to every rental with a basic level of coverage, and tenants can buy more. Anyone who doesn’t want it can bring a declaration page from their homeowner’s policy showing their stored goods are covered, and it is removed. In Mark’s experience few people do.^[1]

Why it’s a win-win #

• The facility’s insurance doesn’t cover tenants’ contents. If something is worth storing, it’s worth insuring.^[1]
• A homeowner’s policy may or may not cover goods stored off-site, and a claim on it can raise the tenant’s premiums for years.^[1]
• After a fire or weather event, the owner can be on the tenant’s side helping with the claim instead of in an adversarial position.^[1]
• Insurance carriers see tenant coverage as an extra layer of protection, which can help the owner’s property insurance rate.^[2]

If competitors don’t require it, some owners worry tenants will leave. Mark doubts many will.^[1]

Related answers #

• What add-on revenue can a self-storage facility offer?
• How can self-storage owners lower their property insurance costs?
• What insurance riders and deductibles should self-storage owners consider?

Sources #

Each numbered note above links to the post of Mark’s it comes from.

1. Self-Storage Revenue Strategies for 2026 Part 3 – Increase Add-on Revenue in 2026, Mark Helm, February 13, 2026
2. Insurance Shock: How Self-Storage Owners Can Fight Back in 2026, Mark Helm, March 19, 2026