Ever wonder if you need insurance for your storage unit? When you first rented your unit, you may have been told that insurance is optional, but now that you think about it, was it a good idea to say “no,” you didn’t want it?

The items that you place into your storage unit have meaning to you, otherwise you would toss them in the trash. Since these items hold some value to you, it is important that you do your part and you protect them from damage or loss.

Often times, people believe that the storage facility will cover the loss of items in the storage unit if something happens to the property or unit, but this is simply incorrect.

If you run into a storage unit that requires you to have some form of insurance, you may be able to purchase insurance through the storage facility’s carrier. You can usually choose from different levels of coverage. You only pay for the insurance as long as you rent the unit and when your lease expires, so does the insurance.

Other Insurance Options

There are additional insurance options that you can choose. Often, you will not have to worry about even purchasing a separate policy because your homeowner’s insurance may cover your items being stored. It is important to speak with your insurance company to ensure the items are covered. If your insurance company does not offer this option, they may have additional coverage you can purchase that will extend coverage to the unit.

Another option for you to consider is renter’s insurance. You may be able to find an insurance company that specializes in providing renter’s insurance for storage units.

What’s Covered?

You are probably wondering what exactly is covered if you are paying an additional fee to keep your items “protected.”

Typically, storage insurance will cover most forms of loss that would occur including:

• Vandalism
• Fire
• Tornadoes
• Hurricanes
• Explosions
• Plumbing leaks
• Hail
• Burglary

Should I Purchase Storage Insurance Coverage?

It is wise to have storage insurance on your unit in case something does happen to the unit or the property. Many policies only cost $10 or so a month and you will be covered in the event of a loss. You need to determine how much your items mean to you and whether it is worth the additional money to cover them every month.