Gain Peace of Mind with Storage Unit Insurance

Self-storage units can provide peace of mind, free up space at home and keep seasonal or seldom-used items out of the garage or attic. But many people don't realize that investing in storage unit insurance or a protection plan is also a good idea.

Why not just rely on a home or renter's insurance policy? While some insurance policies cover off-premises storage units, they usually have restrictions and only provide a fraction of your usual coverage, around 10%. A standalone storage unit protection plan can give you an added layer of protection in the following situations.

Water and Weather Protection

Storage facilities do their best to provide weather-resistant storage options (and even offer climate-controlled storage units). Still, extreme or unpredictable weather events happen, and heat, flooding, hurricanes, wildfires, earthquakes, snow, hail, or other natural events can damage the contents of your unit.

If your homeowner policy has an off-premises clause, your unit should be covered by the same weather-related perils as your home. Make sure you review your policy, so you know what events are covered. However, certain types of damage, such as flood damage, may not be covered, and this is where standalone storage protection plan comes in handy.

Damage Protection

Weather isn't the only hazard you need to ensure is covered by an insurance provider. Pests, mold and mildew are also not likely to be covered by your home or renter's policy when it comes to off-site storage. While you can take steps to help prevent these issues, such as not storing certain items and properly storing your items, you can't control what your neighbors are storing. If the unit next door has a leak or unwanted guests move in from a nearby unit without storage unit insurance or a protection plan, that damage could fall on you.

State Laws

In many states, storage facilities can require tenants to have adequate storage insurance or a protection plan. In New York, New Jersey, and Louisiana, where we're located, storage facilities can require tenants to have adequate insurance. However, a storage facility cannot compel you to purchase insurance through them.

Theft and Vandalism

Theft and vandalism are other potential threats when using self-storage. When choosing your self-storage facility, look for things like controlled entry, fencing, cameras that cover every part of the property, and a well-maintained location. And while digital and analog security measures are essential, having staff on the property is a big deterrent to crime.

Having adequate insurance or protection is especially important if you store valuable or rare collectibles. Make sure you check the terms of your policy because some have limitations on the value of certain items, such as jewelry. High-value or irreplaceable items should never be stored in a storage unit. Your collection of hair band vinyl? Yes. The 12-carat diamond necklace from your great-great-grandmother? Absolutely not.

For more tips on what to look for when it comes to a safe self-storage facility, see: Self-Storage Security: Useful Amenities & Safety Tips.

Better Safe than Sorry

At the end of the day, adequate insurance and protection is essential if you are storing your items in a self-storage unit. You care enough to keep your property safe by renting a unit, so adding a protection plan is extra peace of mind. Some policies even allow you to claim the storage insurance as the primary policy, meaning that in the event of a claim, this policy goes into effect first. This also means that your home, renter, or business insurance rate would not go up due to a claim. Be sure to check your policy for confirmation.

Not sure where to get storage unit insurance? Most storage facilities offer their own policies. At Storage Post, we offer our Storage Post Tenant Elite Protection Plan, which provides $2,000 of coverage. Remember, you are not obligated to purchase insurance through a storage facility, so be sure to explore your options to find the best protection for your belongings!