Tenant coverage programs (including tenant protection and tenant insurance plans) are one of the biggest revenue drivers in self-storage.¹ Yet many operators still see their enrollment rates stuck around 20–30%, leaving significant money on the table.

The difference? Top-performing facilities treat tenant coverage plans as a core part of the move-in process—not a last-minute upsell. 

Industry data shows that tenant coverage programs typically generate 50-70% revenue retention to operators after costs are paid.⁵  But with a few key changes, operators can routinely achieve enrollment rates above 70%.²

Facilities with optimized tenant coverage programs can see NOI increases of up to 12% while also improving tenant satisfaction scores. The key is treating coverage as an essential service, not an optional add-on.

Here's how the best operators do it:

1. Enforce a Coverage Requirement

Operators who enforce a coverage requirement for all tenants, - where coverage is included unless tenants submit proof of private insurance - consistently reach enrollment rates of 70–85%.²

Facilities applying the coverage requirement for new tenants only are often able to achieve 50–60% enrollment rates within a few months.

Why it works: Enforcing tenant coverage requires zero capex investment, and it’s a better way to boost revenue than an ECRI (Existing Customer Rent Increase).  In an economy where prices are going up, your tenants are able to get something in return for the investment.  It’s a mutually beneficial arrangement.

Built-in coverage also streamlines the leasing process. Coverage is included automatically in the move-in flow, so tenants don’t have to shop around or make additional decisions - they’re simply covered. This creates a smoother, more seamless rental experience.  The key is balancing consistency and flexibility. Every tenant starts with the same minimum level of coverage, but those with their own insurance can easily opt out. That combination - built-in convenience with a clear opt-out path - makes the process feel effortless rather than mandatory.

Some operators resist default coverage requirements thinking that it will create friction with tenants, but the opposite is true. Tenants are often more receptive because coverage is already handled for them. It’s just presented as a standard part of the lease – like renters insurance for apartments – and it’s one less decision to make during an already stressful move-in process.

2. Make Coverage the Default, Not a Decision

Framing matters tremendously in how tenants perceive and respond to coverage programs.

Instead of asking, "Would you like to add coverage?", successful operators frame it as a facility requirement:

• Include coverage terms clearly in the lease

It's the same approach that landlords use with renters insurance—and tenants understand it immediately. This simple shift removes friction and dramatically increases enrollment.

The Psychology Behind Default Options

Research shows that when given a choice, people tend to stick with the default options provided.⁶ By making coverage the default state rather than an optional add-on, you're working with human psychology rather than against it.

This approach also positions your facility as professional and comprehensive in its risk management—something tenants appreciate, especially when storing valuable items.

3. Set Your Team Up to Succeed

Enrollment rates are driven by people and processes.

Top-performing operators provide:

• Scripted explanations at move-in, so staff know exactly what to say
• Checklists to verify coverage or enroll tenants
• On-screen prompts and/or signage at the front desk
• Performance tracking tied to enrollment rates (note: some operators actually have bonuses tied directly to enrollment rates)

When your team clearly understands the tenant coverage workflow, both compliance and enrollment rates improve. It doesn't require management pressure—it just requires clarity.

Sample Move-In Scripts: 

• “The total cost to move in today is $____. This includes your first month’s rent, $2,000 of coverage for your stored property, admin fee, and lock.”
• “As a material condition of our lease, coverage is required. You’ll automatically be enrolled in our $2,000 plan, but we also offer $3,000 and $5,000 options. Which level best matches the value of what you’re storing?”
• “Coverage is required under our lease, and we include $2,000 by default. If you’re storing higher-value items, we also offer $3,000 and $5,000 plans—do you know which one makes the most sense for you?”

4. Treat Compliance as a Process, Not a Barrier

Through simple modifications to your rental agreement, you have the opportunity to auto-enroll tenants.³ Many operators hesitate due to compliance concerns, but following best practices makes tenant coverage programs both effective and defensible.

Best Practices for Requiring Coverage

• Require proof of private insurance to opt out

• Document all opt-outs and proof submissions

• Always verify private policy documents

Auto-enrollment practices vary by jurisdiction, and several states have self-storage specific insurance regulations that require disclosure and opt-out procedures. 

The key is transparency and documentation. Clear communication up front prevents confusion later and ensures better compliance and higher conversion rates.

As your portfolio grows, it can become overwhelming to manually administer a program that allows tenants to opt-out of coverage by submitting proof of a private policy. The most successful operators invest in automated systems that verify private policy documents, track renewal dates, and maintain compliance records without staff intervention. When evaluating tenant coverage providers, look for partners with robust compliance management software—not just providers that will approve every claim. You want a system that can handle the administrative complexity while also maintaining proper documentation standards.

When done right, this isn't about selling—it's about enforcing a standard facility policy that protects both your tenants and your facility.

5. Track and Improve Like It's NOI (Because It Is)

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Sample Tenant coverage Performance Dashboard

Operators who review enrollment performance monthly and share insights across teams tend to sustain higher long-term performance.⁴

Key Metrics to Monitor

Even if you start with default coverage requirements for new tenants only, we recommend that you track your enrollment rates in a variety of ways:

Monthly Tracking:

• Overall enrollment rate percentage
• Revenue per occupied unit
• Opt-out rates and reasons
• Manager-specific performance

Quarterly Analysis:

• Enrollment rate improvements over time
• NOI impact from coverage programs
• Comparison between facilities within your portfolio

The best coverage programs provide unit-level visibility so you can see exactly which tenants are enrolled, which have opted out, and which have submitted private policies. This granular data helps you identify patterns, address compliance gaps, and optimize your enrollment process. Look for dashboard systems that let you bulk-upload policies and track all tenant communications in one place—this level of detail transforms coverage management from a manual headache into a strategic revenue driver.

Integration with Facility Management Software

Ensure your coverage program integrates seamlessly with your FMS to reduce manual work and improve data accuracy.

Best Practices to Boost Enrollment Rates

Do:

• Frame coverage as standard facility policy
• Provide clear scripts and training materials
• Document all interactions for compliance
• Continuously monitor enrollment rates and improve processes

Don't:

• Present coverage as "optional" or "recommended"
• Train staff to ask "Do you want coverage?"
• Make opting-out of tenant coverage difficult for tenants
• Ignore performance tracking and optimization

Bottom Line: Tenant Coverage Is the Easiest Way to Grow NOI

Tenant coverage shouldn’t be an afterthought. With a default coverage requirement in place and a clear move-in process, you’re not selling anything. You’re enforcing a policy, delivering real value for tenants, and capturing revenue that goes directly to your bottom line. Default coverage is a quick, easy, and convenient way to satisfy the lease’s insurance requirement right at move-in. It also offers self-storage–specific terms and month-to-month flexibility, adding value tenants can appreciate.

The operators achieving 70-80%+ enrollment rates aren't doing anything complicated. They've simply recognized that tenant coverage programs work best when treated as essential infrastructure rather than optional services.

For most facilities, the revenue impact is immediate and substantial. A typical 400-unit facility moving from 30% to 75% enrollment rates can see annual revenue increases of $25,000 or more with minimal additional overhead.⁵

Sources

1. Inside Self-Storage, "Peace of Mind, Plus Profit: How Tenant Insurance and Tenant-Protection Plans Bolster the Self-Storage Bottom Line," 2025. 
2. SafeLease internal data, 2024. Aggregated tenant protection enrollment rate performance across customers using Auto-Protect (default coverage requirement).
3. Inside Self-Storage, “Why Self-Storage Operators Should Consider a Tenant-Protection Plan, Plus How They Work”, February 4, 2024,  
4. SafeLease internal insights, customer success and onboarding observations from 2023–2024.
5. Inside Self-Storage, “Tenant-Protection Programs for Self-Storage: How They Work, Pros and Cons, and Best Practices for Success,” 2025.   

Calculation: A typical 400-unit facility moving from 30% to 75% enrollment (an increase of 180 enrolled units) at $12/month generates an additional $25,920 in gross annual revenue (180 units × $12 × 12 months). With typical revenue share arrangements of 60–75%, this translates to $15,552–$19,440 in additional annual NOI with minimal additional overhead.

6. Cambridge University Press, “When and why defaults influence decisions: a meta-analysis of default effects,” 2019.

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