Self Storage
Stored property insurance is the insurance coverage for loss or damage to personal items that are valued at under 10,000 dollars. When you rent a storage unit, you’ll be given a contract that provides a master policy of insurance for the use of the unit. Stored property insurance covers a self-storage unit that’s located within a storage facility as well as the transport of items to the location during the time period of your contract. In this article, we’ll go through what is and is not covered under stored property insurance, as well as what you should get increased coverage on.
Personal Property That Is Covered By Homeowners Insurance Policies
If you’re a homeowner who is using a unit to store items while you move, downsize, or renovate, most of your typical items are covered. Stored property insurance is covered within your homeowner's insurance, regardless of where those items are located. The easiest way to ensure that all your property is covered is to increase your coverage limits in your homeowner's insurance policy. If your insurance coverage covers less when items are being stored outside of the home, you may consider increasing your personal property coverage. This can be done by tweaking your homeowner's insurance policy. However, this can increase your insurance rates when using a storage facility.
Furniture, clothing, artwork, jewelry, kitchen and home appliances, and entertainment systems such as sound systems, televisions, and gaming consoles are covered under your policy. Also, items like bikes, skateboards, carpets, rugs, and equipment for lawn and gardening upkeep are covered. It’s important to note that some policies do not cover computers and technological equipment, so check your policy to know for sure. Also, if you have items that are valued at over 10,000 dollars you’ll need extra coverage to secure them against damage or theft.
What Items Are Insurance Against
Mostly, storage units ensure stored items against weather like fire, smoke, wind, hurricanes, tornados, hail, water damage, and lighting. They do not ...
Ryan Moore
December 13th, 2021