Understanding Self Storage Insurance: What it Covers and Why You Need it?


Understanding Self Storage Insurance 

Self storage solutions are the easiest way to store your personal and business things. It’s ideal for anyone renovating their house, moving somewhere, or having extra business clutter. 

However, when you store valuable content like documents, vintage items, furniture, etc., it’s critical to consider self-storage insurance. In addition, safeguarding your valuables is advisable, as fires, floods, storms, and other mishaps can damage or destroy your belongings. 

Therefore, insurance for self storage units is a must to protect your valuables. It’s almost impossible to anticipate unforeseen circumstances, and insurance guarantees your belongings are protected at all costs. 

What is self storage facility insurance? 

Self storage units are an excellent way to store your belongings in highly protected units. But, ofcourse, your belongings are kept in a controlled environment, temperature controls, and 24*7 surveillance. This means there’s no fear of theft or any physical damage. But uncontrollable events like natural calamities, fires, etc., are almost impossible to control. 

As a result, ensuring your belongings is the best step if something disastrous happens. Moreover, many insurance options are flexible, easy to get, and advantageous. 

So, you must be wondering how to get insurance for self storage units. There are many options. For example, your existing household insurance may cover the items you have stored at the self storage units. Also, you can go for new insurance.  

The process is to evaluate your existing insurance and update it according to the value of your belongings in the self storage units. You can review your current terms or go for new ones if you are a business. The official will determine your storage, and your plan will be updated accordingly.  

Types of self storage insurance coverage 

Here are some popular types of insurance coverage: 

Household Insurance 

Almost all household insurance will modify your terms to cover the belongings you have stored at the self storage units. Also, you must be ready to answer all the questions. The insurance provider may want to visit the self storage units and the company.  

Also, covering the self storage belonging means your premium will be upgraded. But, after basic formalities, you will be able to cover the self storage units under insurance. It would be best if you remembered to discuss all the conditions in depth for the most practical insurance.  

Dedicated Self Storage Insurance 

Dedicated self storage insurance is getting popular as it’s straightforward and very convenient. For example, you can get insurance only for self storage units. Also, it has different plans which help you choose the one which fits you best. 

For example, your insurance provider can offer several plans like: 

Basic: It may cover all your belongings but may not cover thefts. 

Essential Cover: It may cover theft and fire mishaps. For example, it lists perils like theft, vandalism, fire, etc.  

Total Cover: The total cover means covering your self storage units in case of any type of mishaps. This is all-risk insurance which means it will cover all the circumstances. 

Third-party insurance: This is not very popular insurance. It protects if someone gets injured or dies at your storage unit. 

Therefore, it’s important to choose the plan which suits you best. Now, the value of the cover solely depends on the estimated market value of your belongings.  

Now, the question is how much is self storage insurance. The answer to this question depends on the value of your belongings and the conditions your cover fulfills. So, going through all the terms and conditions is very important.  

What Does Self Storage Insurance Cover? 

The self storage insurance covers any mishaps which are not under the control of the storage unit company. However, there are some limitations and exclusions which you must discuss with your insurance providers.  

The common circumstances self storage insurance cover are: 

Theft: Although self storage units are protected 24*7, there is little to no chance of theft. But, it’s advisable to cover this for some worst-case scenarios. Therefore, almost all basic plans cover thefts.  

Fire: Fire can break out anytime, anywhere. Therefore, all the basic insurance covers fire at all costs. 

Natural calamities: If your area is prone to natural disasters, covering this in your insurance is better. Some plans may or may not cover it; discussing it with your providers is the best option. 

There are many items covered in the self storage insurance: 

  • Artwork 
  • Jewelry 
  • Antiques 
  • Documents 
  • Business items 
  • Furniture 
  • Appliances etc. 

However, the storage of automobiles is not allowed. Also, getting insurance for self storage to cover them is not possible. So, thoroughly knowing what you can store and get insurance for is important.  

Why Do You Need Self Storage Insurance? 

Self storage insurance is the best way to secure your belongings. With so many flexible options, terms, and covers, you can curate a package that suits you. But imagine losing your valuable artifacts, furniture, etc., and not recovering your money. Well, it’s a great loss.  

Therefore, availing of insurance will ensure you get back the value of your stored belongings. The protection from thefts, environmental damages, pests, calamities, etc., is a great way to keep your belongings valuable. Also, it gives you peace of mind. Ensuring your valuables and supporting them with reliable service only means satisfaction.  

Some of the advantages of insurance are that you recover your costs if: 

  • There are natural calamities 
  • Fires 
  • Flooding 
  • Damages by pests, rodents, etc.  

Keeping your valuable self storage units means having more organized space at your home or business complex. Also, you’re saving the belongings from physical damage, rodent and pest damage, thefts, and other things. After that, getting insurance on the items at storage units safeguards you if, by chance, anything happens at the unit.  

So, in any circumstance, it is better to be prepared. Hence, discuss your plan with insurance providers or get a new one. It is best to discuss all the conditions beforehand. 

 If you are looking for the best self storage units in Cape Town and nearby, contact Big Storage now. Big storage has the best, safest, custom, and technologically advanced units for all commercial and household needs.