13 May, 2016

As the number of mini-storage facilities has grown, so does the chance something bad could happen to the items located inside.

Many people renting storage units usually think the storage facility’s property insurance coverage will protect their stored items. However, a storage facility’s property insurance provides protection for the building that houses the storage units, not the contents of individual mini-warehouses.  That is if the facility you are with even carries this type of insurance.  That is why it is important to always check on these things before renting with any storage facility.

Home insurance may offer storage tenants some protection. The most common standard home insurance policy covers personal property “anywhere in the world” but you will have to check with your current provider to ensure this is actually the case. Off-premises home insurance coverage has a limit of $1,000 or 10 percent of the policy’s personal property limit on some insurances. That means if hypothetically if your property limit is $100,000, up to $10,000 worth of property in a storage unit could be covered.

Many Brand Name Storage Facilities will provide this type of insurance as an option when you sign up.  Similar to the insurance offered when you rent a car. In some cases it was as low as $7/month on top of your monthly storage bill.  It is almost always a good option to choose this option when placing your belonging, especially valuables in a storage unit.