Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

Mandatory vs optional insurance the revenue difference

18 Mar 2026 · 1 min

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This content was created by Joe Downs. This content was uploaded by Joe Downs. This is a YouTube video titled "Mandatory vs optional insurance the revenue difference" (created 2026-03-18T23:01:08Z). The excerpt is a single-speaker (labeled SPEAKER A) explanation about implementing tenant insurance programs, contrasting mandatory programs (approximately 80–90% compliance) with optional programs (about 50–60% compliance) and describing the resulting impact on compliance rates and revenue.

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So what's the best way to implement these programs for maximum effectiveness, you ask? Well, it's the choice between making the insurance mandatory or optional, and that significantly impacts your compliance rates and therefore your revenue. So mandatory programs see an 80-90%, 80-90% compliance because tenants typically choose your convenient program over the hassle of anything else. So optional programs or management requirements, or lack thereof, being optional, however, dropped to 50 to 60% compliance as tenants try to save money.