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

Two common insurance failure modes that will burn you

9 May 2026 · 1 min

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Two ways tenant insurance fails: operators collect certificates at move-in then never check them again, and they don't track renewals, so coverage lapses unnoticed. One tenant's insurance expired for 14 months before a boat damage incident exposed it. Set up annual verification to avoid the mess.

Let me give you the 2 failure modes I see most often on tenant insurance. Failure mode 1, the operator requires insurance but doesn't verify it. Maybe they ask for a certificate at move-in, file it, and never look at it again. And then 2 years later, tenant's boat is damaged. The operator asks for their certificate and it expired 14 months ago. So the tenant's coverage lapsed and nobody caught it. That conversation that follows that is not the one you want to have, and it was entirely avoidable with an annual renewal system.