What is Self Storage Insurance?

Published on 4/25/2023

Self-storage facilities have become increasingly popular in recent years, providing individuals and businesses with a safe and secure place to store their belongings. However, just like with any other type of property, accidents and unexpected events can happen. That's where self-storage insurance comes into play.

Self-storage insurance is a type of insurance policy that provides protection for the items you store in a self-storage unit. It is designed to cover the loss or damage of your belongings in case of events such as theft, fire, or water damage.

While some self-storage facilities may offer insurance options, it is important to note that they are not required to do so. It is ultimately up to the individual to determine whether or not they want to purchase insurance for their stored items.

Here are some key things to know about self-storage insurance:

  1. What it covers: Self-storage insurance typically covers loss or damage to your items due to events such as theft, fire, water damage, natural disasters, and vandalism.

  2. What it doesn't cover: Self-storage insurance typically does not cover damage caused by vermin or pests, mold, or mildew. It also does not cover items that are not legally allowed to be stored in a self-storage unit, such as firearms or illegal drugs.

  3. How to purchase: Self-storage insurance can be purchased directly from insurance companies or through the self-storage facility itself. Be sure to shop around for the best policy that meets your needs.

  4. Cost: The cost of self-storage insurance varies depending on factors such as the value of the items being stored and the level of coverage you require. However, it is typically relatively affordable, with policies starting at around $10 a month.

  5. Deductibles: Like with any insurance policy, self-storage insurance may require you to pay a deductible before coverage kicks in. Be sure to read the policy carefully to understand your obligations.

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