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The Audit Letter Program (Storable Insurance)

⚠️If you are not using the Storable Insurance Audit Letter Program and would like to get started, please reach out to the Storable Insurance team at Insurancecare@storable.com

 

What is the Storable Insurance Audit Letter Program?

The Audit Letter Program helps you safeguard your tenants in the event of a loss while minimizing work for you. The program easily enrolls your current tenants in insurance coverage if they did not purchase insurance or provide proof of insurance at move-in. 

Through the Audit Letter Program, we’ll automatically send letters to your uninsured tenants notifying them that they will be enrolled in your store’s lowest cost coverage plan if they do not provide proof of private insurance or select other coverage by the deadline indicated.

 

Letters to tenants

The following letters will be sent to tenants who are included in the Audit Letter Program:

  1. On the start day of your Audit Letter Program, we’ll send a letter to uninsured tenants. The letter notifies them that, if they do not provide proof of insurance or opt into coverage, they will be automatically enrolled in coverage.
  2. 2-3 weeks later, uninsured tenants will receive a second reminder letter. 
  3. After the deadline date, uninsured tenants will receive a welcome letter notifying them that they’ve been enrolled in our coverage. 

Status updates 

We will remove tenants automatically from the Audit Letter Program if tenants move out, provide proof of insurance, or if they select coverage. 

If there are tenants you do not want to include in the Audit Letter Program, you can opt them out and allow them to not carry insurance coverage. Be sure to opt those tenants out using the instructions below prior to the start date of your Audit Letter Program so they do not receive notifications. 

 

How do I remove an individual from the Audit Letter Program? 

If you’d like to allow a tenant to be exempt from automatic enrollment in your store insurance policy, you’ll need to note that exemption on their tenant page. To do so:

  1. Navigate to the tenant’s page, which can be found on your Facility page using the Tenants tab on the left navigation bar. 
  2. Click Edit Tenant.
    8604BB93-F2A5-4346-84FB-C7E31F617645.png
  3. Scroll down to the Exemptions section of their page and check the box next to Insurance Exempt and enter the reason they’re exempt.
    insurance_exempt.png
  4. Click Update Tenant to save your changes.

How do I unenroll a group of units from the Audit Letter Program?

If you do not want one or several of your units to be enrolled in the Audit Letter Program, you may want to exclude their unit type from your insurance. 

 

To exclude a unit type from insurance:

  1. Navigate to your Unit Types settings on the Software Settings of the Corporate section of your software.
       9BAAC22D-EE06-43C7-AEC2-60384EB516F5_4_5005_c.jpeg
  2. Click Edit next to the unit you’d like to exclude.7FF1ACAC-D24D-427F-8452-1D5596DD7360.png
  3. On the next screen, check the box next to Do not allow store insurance on this Unit TypeD01D3E31-4D05-4E92-BB95-5040138F5F63_4_5005_c.png
  4. Click Save


For more information on how to ensure a tenant will be covered under Auto Protect, check out our article on Auto Protect.

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