At Big Storage, we go beyond providing secure and reliable storage facilities in Cape Town. We understand that unexpected events can happen, and even the most advanced security measures cannot guarantee complete protection. That is why we are thrilled to announce our exciting new partnership with Old Mutual Insure!
This powerful collaboration brings you comprehensive storage insurance solutions specifically designed to protect your business assets while they are in our care. In this article, we will look at the importance of insurance for business storage space and explore how Big Storage and Old Mutual Insure can give you complete peace of mind.
What is Storage Insurance for Businesses?
Storage insurance is a specific type of insurance policy designed to protect your assets while they are in a self-storage unit. These policies typically cover a wide range of perils, including fire, theft, vandalism, and even weather-related events like floods or hail damage.
Knowing your valuable inventory, equipment, and other assets are covered in case of unforeseen circumstances allows you to focus on running your business worry-free.
There is also the financial security aspect. In the unfortunate event of damage or loss to your stored items, business storage insurance can provide the necessary funds to replace or repair them.
What Does Insurance for Self-Storage Units Cover?
When you partner with Big Storage and Old Mutual to insure items in a storage unit, you can expect cover for:
- Fire: Storage unit insurance protects your inventory, equipment, and other assets in case of a fire within the storage facility.
- Theft: Unfortunately, theft can happen anywhere. Storage insurance provides financial compensation if your stored items are stolen.
- Vandalism: Malicious acts of vandalism can damage your business property. Storage insurance can help cover the costs of repair or replacement in such situations.
- Natural Disasters: Floods, storms, and other weather events can cause severe damage. Storage insurance can provide coverage for these unforeseen disasters.
By consulting with an Old Mutual representative through Big Storage, you can ensure you get a policy that meets your specific business needs and offers the right level of storage unit insurance coverage for you.
Types of Business Assets That Require Storage Insurance
Inventory:
This is a top priority for many businesses. Storage insurance safeguards your stock and merchandise against damage or theft while in business storage units, protecting your profits and ensuring you have products available for your customers.
Equipment and Machinery:
Whether you store specialised tools, construction equipment, or expensive machinery, storage insurance provides coverage in case of unforeseen events. This can help prevent costly replacements and disruptions to your workflow.
Furniture and Fixtures:
Office furniture, retail displays, and other business furnishings are a significant investment. Storage insurance protects these assets against damage from various causes while they are not in use.
Electronics:
Servers, computers, and other electronic equipment which would be costly to replace should also be insured.
How to Choose the Right Storage Insurance Policy
Consider the following to help you choose the right storage insurance policy for your business:
- Assess Your Needs: Start by taking a thorough inventory of the assets you plan to store. Evaluate their current value and the potential financial impact if they were damaged or lost. This will help determine the appropriate level of coverage you need.
- Read the Fine Print: Do not underestimate the importance of understanding the policy terms, exclusions, and conditions. Pay close attention to covered perils, claim limits, and any specific requirements for maintaining coverage.
- Consult an Expert: This is where Big Storage’s partnership with Old Mutual Insure shines! Our team can connect you with an Old Mutual representative who can provide expert advice and tailor a storage insurance policy that meets your specific business needs. They will ensure you get the right level of coverage at a competitive price.
Before Storing Business Assets
Take some proactive steps before storing your business assets to streamline the insurance process:
- Inventory List: Create a detailed inventory of all items you will be storing, including descriptions, values, and serial numbers where applicable. Keep a digital and physical copy of this list for your records.
- Photographic Evidence: Take clear photos and videos of your assets in good condition before storing them. This documentation will be valuable in the event of a claim.
- Security Measures: Big Storage takes facility security very seriously. We implement a variety of measures to keep your belongings safe, including 24/7 surveillance, secure access protocols, and fire alarms. However, having a well-lit, clean storage unit with minimal clutter can also help prevent potential issues.
- Condition Check: Inspect your items thoroughly for any existing damage before storing them. Note any pre-existing wear and tear on your inventory list to avoid confusion with potential storage-related damage.
In Closing
Unexpected events happen! Insurance for goods in storage provides an extra layer of security and peace of mind, knowing your valuable assets are protected. Big Storage is confident that together with Old Mutual Insure, we can provide the comprehensive storage and insurance solutions your business deserves!
