Storage Unit Insurance | A Closer Look at Protecting Your Belongings as a Customer
Even though most storage facilities have safeguards and security in place, it can still be a little unnerving to leave your valuables stored in a location that is away from your home. When it comes to using a storage facility for your valuable possessions, out of sight is definitely not out of mind, and there is no doubt that you will want some layer of extra protection. Storage unit insurance protection is the perfect solution, but not many customers know a great deal about this option to protect their stored belongings.
Storage Unit Insurance May Be Covered by Your Home Insurance Policy
One of the things that most storage customers do not know is that in some cases, the belongings that they place in storage will be covered by their homeowner's insurance policy. This is especially true if you have extended coverage for your personal belongings. However, not all policies have coverage available for items that are stored off of the property. If your policy does not cover stored items, you may be able to obtain coverage by taking out a renter's insurance policy, which essentially covers items that you keep stored at a rented location, even if it is just a storage unit.
Always Ask If Storage Insurance is Available through the Storage Facility
Some storage facilities will have their own renter's insurance available for customers. However, this coverage is likely not included in the quoted price and will be billed as an additional service offering. This is done to keep advertised prices low and competitive. It is always a good idea to ask about renter's insurance that will be available when you are shopping for a storage unit.
Frequently Asked Questions
- Do all renter's insurance policies cover items kept in storage? - With so many different insurance companies and policy variations, you cannot assume that an existing renter's insurance policy would pick up the tab if your stored items did get damaged. Therefore, it is always a good idea to ask your policyholder to be certain.
- How much is the average renter's insurance policy? - The average consumer pays between $15 and $30 a month for renter's insurance. However, you can often get discounts if you bundle the policy with other types of coverage, such as auto.
- Is it better to look for a facility that offers storage renter's insurance rather than trying to get coverage on your own?- This is only a matter of preference, but if you can find facility-offered insurance, you may be able to get the coverage for less, as the coverage will typically be an extension of existing business liability insurance and figured at a group rate.
Items kept in storage may be away from home, but this does not mean that you care any less about their safety. Talk to an insurance company like Scovotti Insurance or a storage facility manager for more information about obtaining renter's insurance to cover your stored items.