Insurance is a part of everyday life. We use it to protect our automobiles, boats, homes, health, lives and businesses. But one area that’s often overlooked is your storage unit.
According to the Self Storage Association, almost 10 percent of Americans rent a self-storage unit for personal belongings, so there’s a good chance you’re among them. The items you store could be worth many thousands of dollars – a cost you really don’t want to absorb if something goes wrong. Accidents don’t happen frequently, but no place – no home, business, or storage unit – is completely immune to bad luck and what the insurance industry calls “acts of god.” A storage insurance policy can protect you from the unexpected.
Of course most self-storage company’s carry their own insurance, but that covers their own assets, not the stuff you store there. And don’t think that your homeowner’s or renter’s policy will automatically protect you. Many do not cover things that are stored away from your home, and policies that do often have strict limitations on coverage. Typical coverage for off-premises belongings is 10 percent of the personal property limit for the policy or $1,000, whichever is greater. You should call your primary provider if you need clarification about your current coverage and its limitations.
Some storage facilities require that renters either purchase storage insurance from them or prove that they have adequate coverage from another source. A self-storage policy like the kind that Atlantic Self Storage offers specifically protects the items in your unit if a mishap occurs. You can select the level of coverage you need based on what you’re storing. Most policies cover damage caused by floods due to plumbing problems, theft, vandalism, hurricanes, earthquakes, lightning, fire, and wind.
Be aware of exceptions. Theft is typically only covered if there is evidence that a burglary occurred through forced entry and a police report is subsequently filled out. Damage from insects or other vermin, mold, and mildew tend to be excluded. Vehicles should be covered by your primary automobile insurer. Sensitive items and valuables that are expensive or difficult to replace, such as wills, deeds, jewelry, and art, should be stored elsewhere for proper coverage and protection.
In northeast Florida, store your belongings safely at Atlantic Self Storage. Insurance starts as low as $7 per month – a little to spend for a lot of peace of mind. Click here to learn more.