SELF-STORAGE INSURANCE – WHAT TO KNOW
August 13th, 2021
Choosing self-storage will be the best decision you’ll ever make yet, leaving your valuables behind, we realize, can be difficult. In fact, for most people every belonging has value, including those that are purely sentimental. This is why storage unit insurance is important.
Most storage companies require you to provide proof of insurance at the time of rental, and if you do not have homeowner’s coverage, they will offer their own when you lease your unit. Self-storage insurance is absolutely necessary, and proof of coverage is required by your storage company. Realize that insurance for your storage unit contents is that added peace of mind to assure you that you’ll be properly reimbursed, if the unthinkable happens like, fire, flood, or theft. So, take a deep breath and relax. You’re covered.
Insurance for self-storage units is often available through many homeowner’s or renter’s insurance policies. If you have it, you will want to use it however, the additional coverage offered by most storage companies will be in addition to your homeowner’s policy and will typically cover a large portion of your homeowner’s deductible. Regardless of whether you purchase insurance on your own or through your storage company, we strongly recommend it. Here is a list of what you should know.
Know what’s covered – If you live in a part of the country prone to hurricanes, tornadoes or excess flooding, coverage against these types of disasters will be important. Because not all things are covered by insurance, you’ll want to be careful to determine what items are covered before leaving them in your unit.
Appraisals – Policies have a limit on the amount of damage covered. You’ll have options at the time of purchase. Once a claim is established as valid, the policy will pay up to its coverage limit. It’s a good idea to know how much your items are worth. A general estimate is easy if you still have a receipt or remember how much you paid. Photograph all the items going into your unit and keep records of their appraisal value. Your insurer will inform you of whether an appraisal is needed.
Coverage Limit – You’ll want to find insurance that will cover as much of your valuables as possible. Needless to say, coverage may be limited. Before you sign the paperwork, make sure you have what you need. If you’re still asking yourself whether insurance is really necessary, just think of how much better you’ll feel driving away knowing you’ll be covered if anything should happen to your valuables. By purchasing insurance when you reserve your unit, your valuables are covered immediately. Remember, if it’s worth storing, it’s worth protecting. Visit a location near you or learn more at www.mykeystorage.com.