When storing items, one of the main goals is to keep them safe. However, self storage units are not immune to accidents, theft and natural disasters. Many people assume that insurance is a part of the package when renting a self storage unit. However, one should take great care in choosing a self storage insurance plan that will adequately cover your belongings in the unfortunate event of damage to the self storage facility and unit. Keep the following tips in mind when looking for self storage insurance:
You might be able to save by bundling your policy – If you have renter’s or home insurance, check with your insurance company first if it would be possible to insure your self storage items. By doing so, you would be able to take advantage of discounts from your current insurance provider instead of switching altogether. It is also simpler and easier to have just one company to deal with your insurance policies. In some cases, the items in your self storage unit might be covered under your home policy. Review these details carefully to avoid incurring additional unnecessary costs.
Purchase sufficient insurance to meet your needs – Do not purchase only the bare minimum in an attempt to cut costs. If you are ever in the unfortunate situation where you have to make a claim, you should ensure that your policy adequately covers the replacement of your belongings. Detail the items in your unit beforehand and check their current market value in order to assist with purchasing a self storage insurance plan.
Carefully review the details of the insurance policy before purchasing – Self storage insurance policies can start as little as $6 a month. However, you should not let the low price entice you into buying without carefully weighing your options. For example, some plans do not cover items such as jewelry, currency, or precious stones. Take the time to ensure the policy you are purchasing meets your current needs and can cover you if you plan to add more items to your unit in the future.
Remember that insurance may not be a part of your monthly rental fee and it is wise to purchase it. The self storage facility might have adequate security but they can do little or nothing to prevent occurrences such as malicious damage, fires, floods, and other natural disasters. You can search a wide range of self storage facilities and inquire about their insurance policies in our Self Storage page.