All storage facilities are not the same, and the well-maintained and professionally managed facility will have fewer problems.
When new storage customers decide to rent a unit, one of the steps that must be made to protect their possessions is to find out if their belongings are covered by the storage facility or if insurance is needed.
Here are some action items to consider about insurance when renting self-storage.
Protect yourself so you can replace lost, stolen or damaged items, which the storage facility will not cover.
Remember, it is your responsibility to talk with your insurance agent to see if your homeowners’ or renters’ policy has “Off Premises Coverage.”
Understand that most facilities offer third-party storage insurance.
Know that some storage facilities need proof that you have homeowners’ insurance or require that you buy their third-party option.
Expect that some damaging events are covered by third-party storage insurance, typically: fire, smoke, hurricane, wind, tornado, theft, water, hail and lightning.
Be aware that events usually excluded from coverage are: flooding, mold, earthquakes, vermin and war.
Anticipate that third-party storage insurance will range from $8 to $50 per month, depending on the value of the contents insured.
Prepare to take action to protect your possessions by:
Choosing the right facility. All storage facilities are not the same, and the well-maintained and professionally managed facility will have fewer problems.
Not storing flammables and alerting the manager if you see any flammables stored in other units.
Reporting suspicious activity and keeping your access code private and secure.
Inventorying your unit and checking on your belongings from time to time.
Always using a disc lock for maximum security. FBN
By Tom Boggess
Tom Boggess is the owner and operator of Flagstaff Storage and Woody Mountain Campground. He has been in the business for more than 25 years.