Storage units cannot be compared to the average rental condo or apartment. Your rental home or apartment is an entrusted place for storing your belongings safely, organizing your items however you want, swapping colors and décor with the respective season or whenever you want. Your landlord or property agent serves as the rent collector after providing you with a home.
Most of the details of this description are also true for self storage. However, the difference is the fact that you may not reside in a storage facility.
Hence, what is the necessity of taking an insurance plan as an integral part of your rental agreement for your apartment, but an option for storage? It is just similar items are in different places and stored offsite. Thus, how does the different location affect their value?
Here are the key considerations you ought to make when thinking about insurance cover for your items in storage.
Know the Options Available
The first step to take is talking with the storage service provider to check and assess the options available for the unit before signing up for a lease.
Some storage providers might pressure you into buying their recommended insurance and fail to offer you other alternative options. However, go through the insurance plan carefully and ensure it has what you need.
An ideal storage company is the one that takes it as their duty to offer you more information about their insurance but not forcing you to buy it based on their preferences.
The ideal company should showcase and explain more about their insurance as part of the lease agreement. Although many companies will give you recommendations, the choice should always be yours in the end.
Insurance plans will surely vary from one storage company to another hence compare different offers. Some options might even come with discounts on deductibles in case your unit has extra amenities such as extra security features like cylinder locks for enhancing the security of your items.
Know What Is Covered
In most cases, insurance for your home may cover storage of items kept offsite or you have an option to add coverage for your offsite items. Check this with your insurance company.
Nevertheless, always let your home insurance know whether you have plans of storing items offsite. This makes it possible to get compensated if your items are damaged or lost.
Storage insurances mostly cover property damage from natural disasters. Some cover rodents as well. However, most do not cover groundwater and flooding. You can get covers on flood from your federal government.
Know What You Really Need
You might ask yourself whether going uninsured is worth taking the risk. Although some storage companies might allow it, it is not recommendable. Take all precautions to get a secure and safe facility.
Knowing your available options and what’s covered will assist you in determining the kind of coverage you should take for your storage unit insurance.