When it comes to using a self-storage unit, people often
think about size, location, and price. However, one important aspect that is
commonly overlooked is insurance. Ensuring that your belongings are adequately
insured can save you from a lot of stress and financial burden in case of
unexpected events like theft, fire, or natural disasters. In this blog post,
we'll guide you through the essentials of storage unit insurance: why you need
it, what it covers, and how to go about securing it.
You might be asking, "Isn't the storage facility
responsible for keeping my items safe?" While it's true that reputable
storage facilities offer robust security measures, no facility can completely
guarantee that your items will be 100% secure from unforeseen incidents. That's
where insurance comes in. It serves as an additional layer of protection for
your valuables, providing you with peace of mind.
Here are the main types of insurance coverage you can
consider for your storage unit:
Tenant insurance is specific to storage units and covers
events like fire, theft, and some natural disasters. This is often the most
comprehensive type of insurance for self-storage, and facilities may offer it
at a low cost as part of their service.
Your existing homeowner's or renter's insurance might offer
some level of coverage for items stored off-site. However, this is usually
limited and may not cover all risks. Always check your policy's details.
Some people opt to purchase insurance from third-party
providers. This option allows you to customize your coverage but can sometimes
be more expensive than tenant insurance offered by the storage facility.
Most insurance policies for storage units will cover:
However, most policies do not cover:
The price of storage unit insurance can vary based on the
coverage amount and the value of items being stored. Tenant insurance can
sometimes be as cheap as a few dollars a month, added to the cost of your
storage unit rental.
To get covered, you can usually:
While it may seem like an extra step and an added cost,
securing insurance for your storage unit is a wise decision. The small monthly
fee can end up saving you a lot in the long run, especially if you are storing
valuable items. So don't overlook this important aspect of using a self-storage
unit. Make sure to consult with your storage facility and insurance provider to
find the best option for your needs.