Self-Storage Insurance – A Quick Q&A



storage insurance

So Why Do I Need  Self-Storage Insurance?

Self-storage insurance is important to protect your belongings whilst in storage.  If they are worth storing, they are worth insuring.

To help you understand the reasons behind taking out adequate insurance and where you may obtain cover, we have provided a list of seven of the most frequently asked questions.

Self-storage is a place to store belongings securely when you have no room at your home or office, or just need a little more space.

So, having done your research, chosen your preferred storage provider, it’s time to start thinking about insurance.

Our 7 most popular questions will help to answer many of the questions you may have.

 

1. Does my storage provider’s insurance cover my items?

The straight answer to that is no.

There are certain times when self-storage insurance will cover the belongings in your unit, such as a result of damage caused by the storage provider themselves.

However, your items are not covered by the storage provider’s insurance and it is your responsibility as the customer to ensure your items are fully covered.

It’s worth considering that if you are moving your goods in and out of storage at any time, then the value of insurance you have need may require adjusting.

 

2. Do I legally need to take out insurance? 

There is no legal requirement to take out insurance if it is stated on your contract when you take out your storage unit that you have declined to insure your belongings.

However, the SSA UK advises members to insist the customer insures their belongings and the storage provider has the right to refuse your business if you don’t insure your items.

If the goods are worth storing, they are worth insuring.

While storage facilities are safe and secure, incidents can happen anywhere which is why we advise all customers to be insured.

 

3. Okay, so I Do I need to take out the storage insurance?

As a customer, you cannot be forced to take out the insurance policy the storage provider is offering you.

However, they can insist that the insurance you do have is adequate and matches or betters the cover their insurance offers.

For example, most storage facilities will offer insurance that covers the replacement value of the goods rather than the actual value of the goods.

For example, if you store a sofa, your insurance cover would have to cover the cost to replace the sofa rather than what you would be able to sell it for.

This means an insurance quote you obtain from an internet provider may be rejected by the storage provider for inadequate cover.

 

4. So, where do I get self-storage insurance? 

Firstly, if the storage provider offers you insurance this is can be seen as useful.

It’s should be a convenient and competitive insurance policy that offers you good protection.

Additionally, it saves time researching other policies.

woman with magnifying glass

If the storage provider doesn’t offer insurance there are alternatives to consider:

It may be able possible to extend your home insurance policy to cover belongings kept in another place.

You will need to contact your home insurance provider to see if this is possible. And ensure you have the address of where the belongings will be stored.

As this will be needed to add to your policy. There is usually only a small fee for this. Finally, there are several companies online that offer insurance cover for self-storage.

As advised, do look closely and understand the policy the storage provider is offering you.

 

 

5. Will the storage providers deal with any claims?

The storage provider will use an insurance broker to provide the insurance and the insurance broker will deal with any claims.

When you take out insurance you should be provided with information on the claims procedure.

 

6. How do I calculate the amount of Self-Storage Insurance I need?

To work out the level of insurance cover, you first need to consider what you will be storing in your unit.

Be aware this may change over time and this is another reason to take insurance with your storage provider.

woman using laptop

You can change your level of insurance easily when you add or take large items out of your unit.

Now you have decided what it is you are going to store.

You now need to calculate what it would cost to replace all those items. Not what they are worth, but the cost to replace them.

 

7. Can I just take out the minimum amount of Self-Storage Insurance?

While we hope you never have to claim, the purpose of insurance is to protect your belongings. And also yourself in the case of an incident.

If you under-insure, you will not receive the full replacement value of your belongings should you need to claim.

You may not even receive the full amount of insurance cover if it is found you have under-insured.

To Summarise…

Once insurance is in place. Knowing how to properly store your belongings and protect them from damage can be a daunting task.

You may have questions about the best way to pack, what type of materials you should use for protection.

If this sounds like you then we are here to help!

Simply drop us an enquiry, and we will see how we can best support your self-storage needs.

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