When you’re renting a storage unit, you’re trusting your belongings to the facility. But what if something happens? Are your items covered against damage or loss? Before signing on the dotted line, here are 6 key questions to ask about coverage:
1. Does my homeowner’s or renter’s insurance cover items in a storage unit?
Your homeowner’s or renter’s insurance may provide some coverage for items placed in a storage unit, but it’s best to check with your insurer. Be sure to read the policy documents carefully and update them if necessary.
2. Does the storage facility offer an insurance option?
Some storage facilities offer the option to purchase additional coverage. Be sure to read over any policy documents, including what is covered and what isn’t, before signing up for this type of coverage.
3. Is there a deductible?
If you do decide to buy insurance from the storage facility, find out if there is a deductible and what it would be for your particular policy. For example, if you’re covering items worth $2,000 and the deductible is $500, you’d still be responsible for that $500 if something were to happen.
4. Are there any items excluded from coverage?
Check the fine print to make sure that your items are covered under the policy terms, as some items may be excluded from coverage. The storage facility should have this information available upon request. There may also be limitations on the amount of coverage for certain items.
5. Does the insurance cover natural disasters or theft?
Find out if the storage facility’s insurance covers natural disasters such as floods and fires, or theft. Some policies may only cover one or the other, so it’s important to know what you are covered for in case of an emergency. When in doubt, ask the storage facility directly.
6. Is there a maximum coverage limit?
Most policies will have a maximum coverage limit, so make sure to read over the policy documents to know what that is. For example, the insurance may only cover up to a certain amount of money for any item that is damaged or lost.
Knowing whether your belongings are covered when in a storage unit can help you feel more confident about renting one. Be sure to ask these questions before signing up for a storage unit or insurance plan so that you’re fully protected if something happens to your belongings.
