If you live in a small place, you aren't going to have a lot of room for your possessions. But this doesn't mean that you have to get rid of a lot of your stuff. You can always use a self-storage facility to keep the items safe but out of your home until you are able to move to a larger space. Storage facilities are safe and secure, with alarm systems, security cameras, and other security measures in place, and you can even get insurance to make sure that if anything does happen to your possessions, you are fully compensated for your loss. Many people wonder if they actually do need to have this insurance when they are using a self-storage facility. Read on to learn more about this coverage and whether or not you need it.
Understanding Self-Storage Insurance
A policy for self-storage insurance is pretty much the same as a homeowner's insurance policy. All of your possessions are covered in the same way as they would be if they were in your home. In the event that something happens to your possessions (which is extremely rare because of the security measures in place at these facilities), the insurance will cover repairs and replacements. You do not automatically get this coverage simply by renting a storage unit. You need to purchase the policy separately.
Coverage
When you buy insurance from the self-storage facility, the coverage will depend on the value of your possessions that are being stored and not the size of the storage unit. These policies usually cover damages or losses caused by fire, theft, severe weather (tornados, hurricanes, etc. that damage the units) and vandalism. Just like homeowner's insurance, you are not covered in the event of a flood.
Do You Need This Coverage?
It is never a good idea to store items, especially if they have any value, without insuring them. That being said, you may not necessarily need to buy this coverage from the self-storage facility. Most homeowner's insurance policies, and apartment insurance policies, provide you with coverage for possessions that aren't in your home. If you are storing items for your business, they may be covered under your business insurance plan. Before buying any additional insurance, it is a good idea to take a look at the insurance coverage you already have to see if items in self-storage facilities are included. If they are, you won't have to worry about that added expense.
For more information, contact a company such as Zippy Removals & Storage.
