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Do you need storage unit insurance?

Stuff, stuff and more stuff. Is my strorage unit covered under my home insurance?
7/23/2013

Stuff, stuff and more stuff. It accumulates and overflows into our closets, basements, attics, sheds, and, oftentimes, storage units. Does this sound like your home? If so, you are not alone, as an estimated one in ten of American households use storage units to warehouse surplus possessions. These personal treasures, since you did not find room at home, sell it at a garage sale, or drop off at the local Goodwill, most likely hold some emotional or financial value. When any item holds value, you should maintain insurance coverage in case of theft or damage.

 

Traditional homeowners’ policies may cover storage units, but it is important to examine your specific plan to determine any gaps as they apply to your personal situation. As well, consider whether your coverage reimburses based on Replacement Costs or Actual Cash Value. The distinct disparity between these two terms will directly influence your insurance settlement, especially in relation to collectibles.

 

Talk to your our independent insurance agent about your current insurance coverage and the possible need for extra protection for your stored items. As trained professionals and advisors, independent agents are equipped to determine the best combination of price and coverage based on your comfort level and potential risks.

 

Additional Tips for Keeping your Stored Items Safe

Only rent from clean and maintained storage facilities. Examine the site for intact roofs, sealed doors, adequate locks, security cameras, and alarm systems.
• Keep a detailed inventory and photographs of all items in your storage unit. This information will prove invaluable if you ever need to file a claim.
• Think year-round and plan for temperature changes. Climate controlled environments protect electronics, photos, clothing, and furniture.

 

The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any policies, nor does it provide any guarantees. You should read your specific policy for a complete description of coverage.

 

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