SafeStorage, India’s leading storage solution provider, has tied up with United India Insurance for coverage of Rs112 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 and Pune. SafeStorage’s warehouses are covered for fire, theft, and natural calamities. Till date SafeStorage has served over 12000 household customers and over 300 corporate customers. However, neither any customer nor the company has ever filed a claim.
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.
Ramesh Madisetty, CEO & Co-founder of SafeStorage, said, “Last year we filed for insurance of Rs30 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 and logistics solution in the country.”
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.