Why You Need To Insure Your Stored Items
Keeping your valuable personal belongings in self storage does not mean you have to feel fully secured your things will be kept safe. Although storage providers should be responsible for putting security systems in place in their buildings, customers for their part should also take the right step of protecting their items. And the right step is to get insurance coverage for your personal items.
You never know when untoward incidents can happen and they can happen even at self storage facilities. Although you don’t want to foresee it taking place, natural calamities such as fire, flood and illicit man-made acts such as burglary do happen. As this is a reality, it would be best then not to ignore the need to insure your important belongings particularly when you’re storing them in a place away from your home.
Before you sign a contract with your preferred self storage provider, make sure you check if the facility provides insurance for your items. While some companies do offer this, the coverage may not be sufficient so if possible, you buy a separate policy to protect your personal items.
Most facilities cover for damages that can occur to the rental units. However, the insurance coverage may not necessarily apply to your business items and personal belongings. There are providers that provide insurance but they can charge you for additional fee on top of your monthly rental fee.
In most cases, items stored in rental units are covered under the self storage insurance policies. An exception to the rule is the vehicle which is normally covered by its auto insurance policy.
Being the customer, you have the option to buy your own insurance policy or go with the policy offered by your chosen self storage facility. There are advantages when you go for the second option. Usually, the insurance offered by storage providers cover any items that may get damaged while in transit and this is not possible with your homeowner’s or renter’s insurance policy.
For businesses that have existing coverage for their items, getting the facility’s insurance can provide added benefits. A supplemental coverage for your items won’t hurt.
In terms of price, a storage facility’s insurance can be lower than what you’re paying for your homeowner’s or renter’s policy. And you can be sure to protect your belongings when accidents happen.
In addition, you will have a separate deductible as your claims will be filed through the insurance company of your storage provider. As it’s a separate coverage, it means your other insurance policies such as that for your home or business will not be affected.
An important tip to keep in mind if you’re going to store your items in a self storage unit is to determine the total worth of your belongings before getting an insurance. This will help you obtain the right amount of coverage according to the length of time you will be using a storage facility’s services.
So don’t forget the insurance aspect when you’re considering utilizing a self storage unit. It’s best to protect your items no matter how long you will be keeping them there.