Do I Need Insurance On A Storage Unit?

Did you know that around 90 percent of storage facilities in the U.S. are occupied and that this number will likely rise as demand for extra storage rises?

With the ability to declutter your home and get some secure space for a decent price, these statistics come as no surprise. However, what would happen if your conveniently stored items at these places get damaged or stolen?

You might think you don’t need insurance for a storage unit, but that can be a costly mistake. Look at five reasons why you definitely need storage unit coverage.

Don’t Assume You Have Enough Coverage Elsewhere

If you have renters or homeowners insurance, you may have some coverage for your public storage unit. The policy usually mentions it as off-premises coverage.

However, this likely comes with limitations and may not suffice if you have expensive belongings. So, seeking a separate storage unit insurance policy offers the best protection and peace of mind. 

Natural Disasters Can Happen

While you may think of not needing insurance for storage units if you use a reliable facility, the weather can still create problems that destroy your stuff.

Your unit could get impacted by flooding or destroyed in a tornado. Fires can also break out and make you lose everything. Lack of insurance can cause a major financial setback in such cases.

You Could Have Expensive Items Stored

Do you use your storage unit to store collectibles, electronics, expensive clothing, or jewelry? If such items get stolen or damaged, you may run into major issues even if you do have some type of coverage through a renters or homeowners policy.

To protect these belongings, you’ll definitely need a storage insurance policy with sufficient coverage and no exclusions for categories of products you own. Carefully do your research and get the terms in writing in this situation.

Your Storage Facility May Require It

If you think you can just forget insurance for storage units with nothing much valuable inside them, think again. In fact, many public storage facilities won’t even let you sign a rental contract without proof of insurance.

Since you’ll likely need storage unit coverage anyway, look into the best policy for you from the start. That way, you’ll have protection even if the unexpected happens with your stuff.

Criminals Exist Everywhere

While many public storage units have good security features like controlled access and cameras, this doesn’t stop all thieves. Unfortunately, even the safest location can have criminals lurking around.

Opt for insurance for your unit so that you don’t have to replace stolen items. Of course, you’ll want a quality lock that you use properly on your unit’s door as well.

A Storage Unit Needs Insured

No matter how confident you feel about the public storage facility you use, a storage unit needs insurance to protect your items from theft and destruction.

Your facility may have a contract with some insurance company so that you can conveniently enroll during the rental process. However, it helps to research other providers so that you get the right amount of coverage for your stuff and end up with a trustworthy insurer.

Be sure to check our blog for more posts about finding useful services for your property and belongings.

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