Storage solution provider SafeStorage has tied up with United India Insurance for coverage of 112 Crore effective from June 7, 2021.
SafeStorage currently has 7.5 Lakh sq ft space in warehouses across five cities in India- Bengaluru, Hyderabad, Chennai, Mumbai & Pune. SafeStorage’s warehouses are covered for fire, theft, and natural calamities.
Till date SafeStorage has served over 12000 household customers and 300 corporate customers. However, neither any customer nor the company has ever filed a claim, a release said.
The list of items covered under insurance at SafeStorage include- electronic and electrical items, household/office furniture, office/home equipment, machinery, motor vehicles of client and related items of clients stored in warehouses.
The company’s fleet of 15 owned vehicles is also covered under insurance by default. SafeStorage warehouses are fully equipped with modular fire extinguishers, smoke detectors, and alarm systems.
Safe Storage follows regular pest control services and maintains clean, dry, secure storage facilities. All items are stored on wooden pallets to protect from pests. Each warehouse is well equipped with CCTV cameras, the release added.
SafeStorage CEO & Co-founder Ramesh Madisetty said, “Last year we filed for insurance of Rs 30 Crore for our 1.5 lakh sq. ft warehouse facilities. This year the coverage is almost 4x more owing to our rapid expansion and business growth.”
“We aim to be present across 9 cities in India by end of 2021. Our target is to be one stop shop for storage & logistics solution in the country,” he added.
The self-storage business saw a boom in the year 2020 with onset of Coronavirus pandemic. With companies adopting the Work from Home model since early 2020 many people, who were working in cities have moved out of their rented apartments back to their native places/hometowns for social & economic reasons.
In such times, Self- Storage units come to their rescue, safely housing their valuable belongings and furniture while they give up their rented spaces in their cities of work.