Self Storage Insurance: Everything You Need to Know

Self Storage Insurance - Everything You Need to Know | Apex Self Storage

Self storage units continue to become increasingly popular as households and businesses require more space at reasonable prices. Whether it’s decluttering, downsizing or simply storing a few belongings throughout the year, self storage units offer ultimate security, but that doesn’t mean additional protection isn’t needed in case of unforeseen circumstances.

Theft, natural disasters and even accidents can still pose risks to your stored items. Self storage insurance is necessary to ensure your items are secure, providing financial coverage and peace of mind.

In this article, we highlight the importance of safeguarding through insurance, the types of coverage and processes.

What is self storage insurance?

Self storage insurance is a specific type of insurance designed to protect the contents of a storage unit in case of damage, theft, or loss. Typically, storage facilities offer insurance options as part of the rental agreement or provide the choice to acquire coverage from external insurance providers. This insurance serves as a shield against various potential risks that might not be covered by a homeowner’s or renter’s insurance policy.

Why do you need self storage insurance?

Limited coverage from homeowner/renter insurance

While your homeowner’s or renter’s insurance might offer some coverage for items stored off-site, it’s often limited and might not include specific risks like floods, earthquakes, or damage during transportation to the storage unit.

Protecting valuables

Valuable possessions such as antiques, art pieces, or rare collectables may need additional coverage beyond what a standard insurance policy offers. The right insurance policy will keep special belongings safe and secure, without fearing that they might not be covered should any damage or theft occur.

Peace of mind

Self storage insurance provides an added layer of security, ensuring that in case of an unfortunate event, your belongings are financially protected. With Apex Self Storage, you can rest assured that everything is kept to standard, with the additional safety net of insurance cover.

Types of self storage insurance

  • Facility insurance: Some storage facilities offer insurance policies that cover the stored items. These policies might be cost-effective but may need more coverage.
  • Third-party insurance: Acquiring insurance from external providers gives you more flexibility in choosing coverage options that suit your specific needs. These policies cover a wider range of risks and offer higher coverage limits.

Factors to consider:

  • Coverage limits: Understand the maximum amount the policy will pay out in case of a claim. Ensure it aligns with the value of your stored items.
  • Types of coverage: Different policies cover various risks like theft, fire, natural disasters, and more. Choose coverage that suits the potential risks your belongings might face.
  • Policy exclusions and limitations: Pay attention to what the policy doesn’t cover and any specific limitations to avoid surprises during a claim.
  • Cost: The insurance cost varies based on coverage limits, types of coverage, and the insurance provider. Compare different options to find the best balance between coverage and affordability.

Store with ease at Apex Self Storage

Self storage insurance is a vital component when renting a storage unit. As a valuable safety net, it provides financial protection for your belongings against unforeseen events. Whether it’s the sentimental value of family heirlooms or the monetary worth of expensive equipment, having the right insurance ensures your peace of mind while your possessions are stored away.

Understanding the different types of coverage, and limitations, and choosing the appropriate insurance is crucial to safeguarding your belongings. Get in touch with us to discover more about how our services work at Apex Self Storage.