What is Contents In Storage Insurance?
Contents in storage insurance is made to protect your stored goods. Whether you've run out of space at home, are moving, renovating, working away, taking a gap year, storing seasonal tools, etc. there are many reasons why you might need a self-storage locker.
When using a self-storage facility, their insurance policy will not protect your belongings. While they may have safeguards in place like alarm or sprinkler systems, there is no replacement coverage for you.
If you have a homeowners, tenant, or condo policy you may have some coverage for off-premises contents. However, it's usually around 10% of your total contents coverage. So if you have $100,000 in contents coverage on your home, your off-premises coverage could only be around $10,000. Check your personal policy to be sure of your limits.
You have options. If you have more than your policy limit covers in the storage facility, you can increase your off-premises property limits. You could also schedule high value items, say if you were storing jewelry in the locker, to give them further protection. Lastly, you could purchase coverage from the storage facility itself.
Some other circumstances where contents in storage insurance is useful are leaving demo equipment at a client's house, lending equipment out on approval, storing property at an employee's home, or lending or renting equipment.
Choosing a Storage Facility
You should always try to avoid risky situations. Here are some tips on choosing a storage facility to mitigate risk as much as you're able
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The Guy R Day Difference
You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for... Most insurance products are similar in price and function, insurance providers are very different when it comes to creating a policy that actually covers you.
Contact us to learn more about the right contents coverage for you.