Will Homeowners Insurance Cover My Storage Unit?

Personal property stored in storage units is a terrific way to safeguard anything that you don't have a place for in your home. They're also an excellent option for products only used once a year. Storage lockers can help you organize your home by storing everything from outdoor furniture to bicycles and other critical stuff. They're also a good choice if you need extra storage space for your personal belongings during a move.

But do you know if your house insurance covers your storage unit?

Depending on your coverage, your home insurance may serve as "storage unit insurance," but it may be limited and may not cover all of the goods you keep off-site.

Your homes insurance contains "off-premises coverage," which protects your belongings in the form of personal property coverage, similar to the protection your property receives when inside your home. Off-premises insurance may cover objects kept in storage containers, but the amount of coverage varies depending on the type of damage and other factors.

Talk to your homeowners' insurance agent about how you're protected from being sure of your coverage. You'll learn how your personal property off-premises coverage safeguards the items you've fought so hard to acquire.

Remember that the restrictions for personal items kept in a storage unit may differ from those for the personal property kept in your home. This is because some homeowners' insurance treats "off-premises" personal property in a storage facility differently than "on-premises" personal property. They'll usually offer coverage for your belongings as a proportion of the overall personal property insurance limit.

Jewelry, watches, furs, tools, guns, collectibles, and other high-value items are all excluded from coverage. To preserve the value of these valuables, you'll need to purchase scheduled personal property coverage.

When Are Self-Storage Units Excluded from Homeowners or Renters Insurance?

If your homeowner's or renter's insurance policy excludes certain types of damage, loss, or personal property, that exclusion will also apply to the things in your storage unit. Rodent infestations, water damage, and theft without proof of a break-in are just a few of the situations that neither policy would cover.

Furthermore, if you just have insurance through the storage provider, natural calamities may not be covered by their coverage. It's a good idea to check with your insurance agent to see how your personal belongings are insured while in a storage unit. It's a good idea to find out about coverage before you need it.