Self Storage Insurance
Self-Storage Units aren’t immune to disaster themselves. Which is why it’s important to secure your property with storage unit insurance.
Why Is Insurance Even Necessary? The fact is you need a storage unit insurance program to help you repair or replace any of your property which may get damaged or destroyed while in storage.
Accidental fire damage, which causes millions more in losses to self-storage renters who aren’t insured.
In many instances, a self-storage facility will require proof of insurance before renting out a unit.
- Motor vehicles: As a general rule, insurance policies offered by self-storage companies will exclude motor vehicles from coverage. If you don’t already have auto insurance for the vehicles you wish to store, you’ll need to look into purchasing separate policies for each machine or shopping around for a third-party program of self-storage insurance which does include motor vehicles under its terms.
- Damage resulting from the actions of insects, rodents, or other vermin: It’s important to ask the storage facility management how they cope with their rodent and insect populations, as damage from these creatures is typically excluded from coverage in a similar manner to homeowners and renters insurance policies.
- So-called “missing” items: Any item which goes missing from your storage unit when there’s no physical evidence of a break-in may be described as such, or classified as a “mysterious disappearance”. Neither definition qualifies for insurance coverage under the terms for burglary.
- “Expensive” items or documents: Storage facility insurance typically excludes more items from coverage than a third-party policy. Vital protection for items such as art, jewelry, furs, collectibles, cash, securities, title deeds, or other valuable documents will typically be absent – and you’ll need to look to a reputable third-party insurance provider, or look into the possibility of purchasing riders to your existing homeowners or renters insurance, if you want coverage for these.