Public Storage Launches Savvy Insurance to Serve the Self-Storage Industry

Rhea-AI Summary

Public Storage launches Savvy Storage Insurance Program, offering property owners increased ancillary revenues and enhanced customer experience. Program benefits include easy onboarding, experienced support, advantaged compensation, and higher customer adoption rates. Integration with Storable's technology solutions. Potential expansion to more software platforms and property owners. Public Storage owns 2,888 self-storage facilities in the US and has a 35% equity interest in Shurgard Self Storage Limited.

Positive

• Launch of Savvy Storage Insurance Program offers potential for increased revenues and customer satisfaction.
• Integration with Storable's technology solutions enhances program implementation and effectiveness.

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• None.

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE:PSA) announced today the launch of the Savvy Storage Insurance Program® (“Savvy”), a one-of-a-kind tenant insurance offering that will enable property owners to increase ancillary revenues while enhancing the customer experience. The program is offered through PSCC, Inc., a wholly-owned subsidiary of Public Storage, which also administers the Orange Door Storage Insurance Program® for Public Storage.

Savvy will share the benefits of the industry-leading storage insurance program with fellow property owners nationwide. Owners should expect easy onboarding and implementation, experienced and dedicated support, advantaged compensation, and significantly higher customer adoption rates than the offerings available in the market today. Their customers will enjoy the same simplified process, broader coverage, and competitive rates that more than 1.4 million Public Storage customers choose for their insurance and peace of mind today.

PSCC, Inc. is integrating with Storable, a leading provider of comprehensive end-to-end technology and business solutions for the self-storage industry, as it rolls out the Savvy program in November. Owners that currently use Storable’s SiteLink, storEDGE, or Easy Storage Solutions management software will be eligible to offer the best-in-class Savvy Storage Insurance Program to their respective customers. Storable is committed to being an open platform that provides choice in vendors for its customers and the integration with Savvy is another example of that commitment.

“We are excited to share the unique benefits of our storage insurance program with fellow property owners and their customers,” said Marshann Varley, President of PSCC, Inc. “There are more than 45,000 self-storage facilities across the United States that could benefit from Savvy. We look forward to expanding the offering through future integrations with additional software platforms and property owners.”

The Savvy team looks forward to meeting with self-storage owners from across the industry at the Self Storage Association’s Fall Conference and Trade Show (Booth 322) in Las Vegas on September 5-8. Property owners interested in meeting with the team or learning more about Savvy’s unique benefits can reach us at:

Website:		www.SavvyStorageInsurance.com
Email:		owner@SavvyStorageInsuranceProgram.com
Phone:		800-784-1290

Public Storage Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard® brand. Our headquarters are located in Glendale, California.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230905853653/en/

Ryan Burke

(818) 244-8080, Ext. 1141

Source: Public Storage