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.
In order to make that determination, it’s important to know what storage insurance really is.
What is self-storage insurance?
- 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?
It may be easier to list items which most self-storage plans don’t cover:
- Money or currency
- 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.
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.
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?
Then, we’ll get back to you with the answers your need.