Should You Insure Your Storage Unit?

If you’re a homeowner, chances are you have homeowner’s insurance.

And if you rent an apartment, you probably have renter’s insurance.

So if you rent a storage unit from Ten Mini Storage (or any other self storage company, for that matter) should you have storage insurance?

In order to make that determination, it’s important to know what storage insurance really is.

What is self-storage insurance?

Your storage unit is protected by safety and security features like:

24/7 video monitoring
Individual key code entry
Gated security

So from an access perspective, it’s very safe.

Storage insurance, just like homeowner’s or renter’s insurance, protects your belongings from things like:

Fire and smoke damage
Flooding or leaking water
Wind damage
Lightning strikes
Building collapses
Vermin or rodent damage

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What does storage insurance cover?

Mostly everything.

It may be easier to list items which most self-storage plans don’t cover:

Jewelry
Money or currency
Artwork
Antiques
Fur coats
Deeds and documents

Generally, there are two types of storage insurance available to you: Commercial storage for your business items and residential storage for your personal belongings.

How do I get storage insurance?

Most people assume their home insurance policy also covers possessions stored outside the home.

That may not be the case.

So it’s always wise to double-check your insurance plan and see what coverage you do have.

And if your homeowner’s or renter’s insurance does cover self-storage too, it may be limited in what it covers and how much.

Your best bet to make sure your storage rental is properly insured is to contact your storage solution provider and ask about what types of insurance they can offer you directly.

Is it expensive to get storage insurance from my storage company?

In many cases, it’s cheaper to buy insurance from your storage company versus buying it from your insurance provider.

Something else to consider: In case you do need to make a claim, it wouldn’t count against your home or commercial insurance policy.

As a result, your rates wouldn’t be impacted.

So, should you get storage insurance?

If you have something worth storing, then it’s worth protecting in every way possible.

Whether it’s long-term car storage, short-term storage while you move or something else, you shouldn’t just assume you’re homeowner’s insurance extends to your storage unit.

It’s also worth noting that while we do everything we can to provide you with a safe, clean and dry storage environment, there are some things (mostly weather-related) we can’t control.

Storage insurance is a smart way to get extra peace of mind knowing that your items will be replaced should there be an unfortunate incident or accident while they’re in storage.

Contact us for more information

Want to know more about our self-storage facilities? Interested in purchasing storage insurance for your current or future units?

Visit out contact us page and fill in the form. It only takes a few seconds and you can also tell us exactly what you want to know.

Then, we’ll get back to you with the answers your need.