ShinMac, a Texas self-storage operator with 7 facilities and 2000+ units under management discovered they were overpaying $60,000 annually for their insurance - not because they had better coverage, but because they had inflated building valuations.

The Problem

The company had been auto-renewing their policy for years, accepting rate increases without questioning the underlying valuations. When premiums began eating into profits, they decided to explore alternatives. 

"SafeLease saved us over $60,000 annually while actually improving our coverage. Their underwriters right-sized our building values instead of just rolling over inflated numbers. It's better protection at a fraction of the cost." -  Jim McCartney, ShinMac Self Storage

The Discovery

After reviewing the building details, SafeLease underwriters found that their building was valued at $27 million when the true replacement costs were $15 million. That $12 million overvaluation was driving unnecessary premium costs across their entire policy.

The Solution

SafeLease provided comprehensive coverage with comparable deductible options

Better Protection:

• Agreed Value coverage with no coinsurance penalties
• $1M Sale & Disposal and Customer Goods Legal Liability
• Tailored sublimits for business income, sewer backup, and service interruption
• Simple per-location deductibles

Lower Costs:

• Right-sized building valuations to actual replacement cost
• Streamlined pricing with no hidden fees
• Lower out-of-pocket on wind/storm claims

The Results

More comprehensive coverage, tailored for self-storage, at a fraction of the cost.

Annual savings: Over $60,000

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