risk potential here. Storage unit risk is very high relative to other similar risks. Most have to get insurance in the surplus market (the non-standard market where prices aren't very regulated because insureds can't get insurance through standard companies). This model probably has huge fraud potential.

On the other hand, a lot of the high risk comes from storage units being in relatively remote places, poor security, sketchy management, and poor fire protection with a lot of unknown stored items, so a lot of the risk might be mitigated by the storage being at residences.

There is probably a huge amount of potential for risk mitigation, and to be honest as someone who currently works as an actuary for a large tech company with similar liability risk, they need an actuary. There is no way in my mind that insurance risk isn't far and away the single largest cost on their balance sheet. And if it's not, it will be as losses emerge and the business develops.