How To Make Sure Your Belongings Are Insured When Using Self Storage
As you're preparing to move to a new house, you might have the need to rent a self storage unit. You may need this space for things you really don't want at your new house, or for things that won't fit. You may also want the space so that you have the ability to slowly move your things into your new house at your leisure. In any case, it's important to make sure you have the necessary insurance coverage on these items, and here are three steps to take to make sure you have the right coverage.
Contact Your Home Insurance Company First
Before you rent a unit or begin placing your belongings in one, call your home insurance company to find out if your existing policy covers self storage. If you currently have home insurance or renter's insurance, there is a chance that the existing policy will cover your belongings that are being stored in a self storage unit.
If you find out that your existing policy will cover the items placed in self storage, you may not need to do anything else. There is a chance that you will learn that your existing policy may only cover some of the value of the goods, or you may discover that there are requirements or exclusions on this policy.
Find Out The Requirements
If your policy does cover these belongings, there may be certain requirements that you must follow. These may include:
- The belongings must already be listed on your existing policy – This is only typically needed if the items are valuable. If they are normal, everyday things, you might not need to list them individually. If they are valuable pieces of jewelry or artwork, they may need to be listed separately on the policy. If they are not listed already, you will need to add them, and this may cause an increase in your premium.
- You may need to select a climate-controlled unit – Your insurance company might tell you that they will only cover certain types of items if you select a unit that is climate-controlled. For example, if you have wooden furniture, it could get damaged if it is stored in a place that is too hot or too cold. Because of this, the insurance company wouldn't cover the items if they were in a unit that is not climate-controlled.
- They may only cover certain types of damage – You should also find out if there are any exclusions when it comes to the type of damage that may occur to your belongings. For example, you may not be able to get coverage for damage that is caused by pests or rodents. They may only cover damage caused by a fire, flood, or tornado.
When you talk to your insurance agent, make sure you find out all of these things before you go any further.
Purchase A Separate Policy If Necessary
If you find out that your current policy does not provide coverage on self storage, or if it does not provide adequate coverage, you could talk to the self storage company about purchasing a separate storage insurance policy from them.
Storage insurance is available through most self storage companies, and it will fully protect the items that you have. You may need to place a dollar amount value on these items, but that may be the only requirement.
If your belongings are important to you, obtaining the right insurance coverage will probably be something that you will want to do. To learn more about self storage units and storage insurance coverage for your belongings, talk to a self storage company in your area.