Do I need insurance for my belongings in a storage unit?

Storage Unit Coverage

Having a lot of personal belongings can become overwhelming, especially when you don’t have room for all of them in your home.  Many people rent out or purchase storage units to help alleviate the clutter in their home that comes with having dozens upon dozens of belongings.  The main concern with a storage unit is making sure nothing in the unit gets stolen.  Fortunately, there are insurance policies that cover storage units in the case of theft or vandalism to your personal property.  

If you are renting a storage unit, renter’s insurance will cover your items while they are in the storage unit.  Even though renter’s insurance does cover your personal belongings, it’s not unlimited coverage.  Most renter’s insurance policies will cover up to 10% of your personal property coverage for items outside of your home/apartment.  To make sure you are fully covered, you may need to update your insurance.   

A way to increase your coverage on items in your storage unit is to purchase storage unit insurance if the facility you’re renting from offers it.  Most storage unit facilities require you already have homeowner’s or renter’s insurance but will offer you storage unit insurance on top of that policy to ensure you’re covered.  It’s always good to price compare between your homeowner’s or renter’s insurance policies to the storage unit policy as you may be able to add on to your already existing policies for less.  

Tips for storing items:  

  1. Store them properly.  Make sure there is proper ventilation and not a lot of moisture, so items do not develop mold or mildew.  
  2. Keep valuables at home.  Keeping your extremely valuable items in your home/apartment and locked in a safe is the best way of keeping them from being stolen.  
  3. Organize your items in the unit.  Put the heaviest items on the bottom and stack them according to size.  The last thing you want is to think you have them organized and come back to a toppled over mess.  
  4. Know what you put in the unit.  Keeping a list of items stored in your unit is another way to stay organized.  Plus, when you know what’s inside, you know if something has been taken and it’s a quicker process to file a claim. 

 

Source: Does renters insurance cover storage units? | Coverage.com

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