Does Homeowners Insurance Cover Storage Units?

Personal property stored in storage facilities is an excellent approach to safeguard items that cannot be kept at home. And they are an ideal solution for seasonal things. Storage lockers can help you organize your house by storing outdoor furniture, bicycles, and other essential goods. And they are an excellent solution if you need additional space to store your belongings during a transfer.

However, are you aware if your homeowner's insurance covers your storage unit? Depending on your coverage, your homeowner's insurance may function as "storage unit insurance," although it may be limited and not cover all the goods you store off-site.

Before you sign a leasing agreement for a self-storage unit, ensure you have the necessary insurance coverage to safely store your possessions. Contacting your insurance agent with a list of the items you'll be storing and their worth is the most effective method. Examine how your homeowner's insurance can protect your stored belongings.

My Homeowner's Insurance Will Cover My Storage Unit

Similar to the safety afforded to your belongings while in your home, "off-premises coverage" on your homeowner's insurance protects your personal property while it is away from your residence. Depending on the nature of the loss and other conditions, off-premises insurance coverage may apply to objects stored in storage units.

You must evaluate your policy with your insurance representative to ensure that you are adequately insured. You will receive the necessary information regarding how your personal property off-premises coverage safeguards your hard-earned possessions.

Remember that the limitations for items stored in a storage unit may differ from those stored in your home. Some homeowner's insurance policies cover "off-premises" personal items stored in a storage facility differently. Typically, they will provide coverage at a percentage of the entire personal property insurance limit available for your home's contents.

Some expensive objects, such as jewelry, watches, furs, tools, guns, collectibles, and so on, are also excluded from coverage. To preserve the value of these valuables, you will need to get scheduled personal property coverage.

Additional Concerns Regarding Items in Storage

Before hiring a storage container for your valuables, there are a few safety-related factors to consider. Since most homeowner's and renter's insurance policies only cover personal items up to a certain maximum, you may want to consider increasing your existing limit. In addition to increasing the coverage on your off-premises personal property, increasing these limits will also increase the coverage on your home's contents.

Art, antiques, and jewels may be protected by your homeowner's or renter's insurance. However, coverage may be limited if they are housed off-premises. Before signing a rental agreement, inspect the storage unit facility and your unit. Inquire whether the rental firm has a contract with an exterminator to prevent rodent damage to your things.

Homeowner's and renters' insurance covers more than just your personal property. Knowing what your insurance coverage covers before selecting a storage unit is prudent. You will have greater peace of mind when you keep your belongings and protect their worth with adequate insurance.