How to Insure Your Off Site Storage Belongings
Many people put their personal belongings into a self storage unit and then don’t think twice about them again. If you’re willing to shell out for storage for something valuable, then you must protect it with the right type of insurance. Even with a secure, well managed facility, there’s still risk for fire, theft, and natural disasters. If you’re thinking about renting a self storage unit, learn how to insure your off site storage belongings and then follow through accordingly.
- Talk to your insurance adviser. Do you have a home or renters insurance policy? Some policies have coverage for off-site storage. This coverage includes fire and tornado damage as well as theft. It doesn’t cover earthquakes, flooding, mold and mildew, pests, and poor maintenance. Make sure to ask about the coverage limits, too.
- Talk to the storage facility. Typically self storage facilities offer reimbursement based on unit square footage. Inquire about the coverage limits as well as whether you get reimbursed based on cash value or replacement cost. Many facilities also offer their own supplemental insurance packages. Your insurance adviser can provide insight about these packages.
- Consider specific types of insurance for expensive items. Some home and renters insurance policies have dollar restrictions. If you’re planning to store jewelry, antiques, art, furs, or other expensive items, consider adding some sort of endorsement or floater so that you have full coverage. Keep in mind that you’ll have to store these items in a unit with temperature and humidity controls.
Schumacher Insurance Agency offers a wide range of personal and business insurance packages. We want you to have the insurance that you need to have a peace of mind about your valuables. To learn more, fill out our online contact form or give us a call at 973-812-0001.