When it comes to financial loss, people are willing to do anything it takes to prevent it. For this reason, they choose to insure their valuable assets including their home, vehicle, business and even health – the most precious thing in life. Over time, some rather unusual types of insurance surfaced covering body parts, weddings and multiple births. Therefore, when hearing about storage insurance, people do not even flinch. Of course, this does not stop them to inquire about the necessity or importance of having such insurance. If you fall into the same category, keep reading the article in order to find out the needed information related to this topic. In you think about it, when you choose to place your possessions in a storage unit, you no longer have control over their security and protection, which might explain why some people resort to storage insurance. On the other hand, most storage facilities already include high safety measurements for the items in their units making the insurance an unnecessary cost.
Is storage insurance important for you?
After assessing both opinions, the following question inevitably arises: who is right? Is storage insurance that important? Well, for those people who can afford investing additional money for an extra layer of protection, insurance comes very handy. They probably plan to store unique and rare items, which are extremely expensive so they want to make sure that when they return to the facility, they find them in excellent condition in the same spot where they placed them in the beginning. In case something happens and the valuable items disappear or suffer major damage, they receive the staggering amount of money lost. Apart from money, storage insurance also brings peace of mind. You definitely sleep better at night if you know that you will not suffer any financial loss in the near future. When it comes to selecting a unit, most people simply type “storage unit near me” online and explore the results. Regardless of the type of unit preferred, basic or climate-controlled, you should know that the respective storage business does have insurance covering their assets, but it does not include your items meaning that you must get your own insurance.
Does your homeowner insurance covers items store away from home?
The interesting aspect of the topic related to storage insurance is that some people wonder if homeowners insurance also covers the possessions stored in rented units. This is a great question, but unfortunately, there is no specific answer. It all depends on the coverage extent of your type of policy. Furthermore, even if your homeowner insurance covers items stored away from the house, you should not expect it to apply in all situations. For instance, natural disasters like earthquakes or flooding as well as rodent damage and poor maintenance are not good enough excuses for benefiting from your existing homeowner insurance. It also depends on the type of items you decide to place inside the unit. You will have to discuss with your insurance provides in order to determine if you should resort to storage insurance or if your homeowner insurance is more than enough.