Why do I need to insure my self-storage facility?
Placing your possessions in self-storage is a sensible choice, but it is not without risks. While storage facilities may be dedicated to protecting tenants’ belongings by installing state-of-the-art security measures and providing excellent customer service, tenants also have responsibilities. It is in situations like these that having self-storage insurance proves helpful. It shields you from calamities like fires, storms, floods, and the possibility of theft.
You may still have doubts about purchasing self-storage insurance. Listed below are six confirmations of why this is a good idea and an absolute requirement. When deciding to rent a space to store items for which you no longer have room, insurance for the unit itself may not be at the forefront of your mind. You’ve noticed the locked doors, restricted access, and monitoring equipment. Shouldn’t that be enough? You should rather ask yourself if there’s any guarantee that you may experience a total loss of your belongings. Those items need as much security at a storage facility as they would at your home because no place is entirely safe. Companies that rent out storage units universally almost always mandate insurance, though the types of coverage available may vary. The most common ways to gain coverage are to:
- Buy insurance directly from the self-storage facility.
- Utilize your personal insurance.
- Using a middleman.
Why should you ensure your self-storage facility?
Your storage unit is vulnerable to extreme and sudden weather changes. Even if most storage facilities have impact windows and backup generators, rain and wind can still get into your unit and damage your belongings. With insurance, you can protect your belongings when calamity strikes. During hurricane season, this is especially important to remember. Before renting a self-storage unit, check your insurance policy to see if it covers flood damage well.
Protection against flooding/water damage.
When protecting the building from the elements, self-storage facilities have plumbing systems extending from the walls to the roofs. Water pipe breaks and septic system malfunctions are examples of the unexpected dangers you may face. Be aware that insurance may not cover water damage in all cases; carefully research your policy’s coverage details.
Coverage against fire and smoke.
The problem is that most self-storage facilities do not have fire detection or suppression systems installed. The fire would only take a few minutes to spread throughout the container because of the lightweight construction materials typically used. The fuel and abundant combustibles in those storage areas alone would cause concern. The smoke may also directly hit your unit even if the fire doesn’t. Like acid, smoke can eat away at different materials, especially if left for a long time. This makes it very dangerous for your valuables. One of the main risks that make insurance necessary is fire.
Protection against a robbery.
Despite having digital surveillance cameras, gated keypad entries, effective lighting systems, and proper employee protocols, storage facilities are still vulnerable to theft and break-ins. While it’s unlikely that anyone will break into your storage unit, you don’t want to be caught off guard if something is taken from it. Thankfully, most insurance policies include protection against this threat, so all you have to do to file a claim if it occurs.
Protection against pests and rodents.
How effective their pest control systems are at keeping rodents and other insects out of your belongings is among the most crucial factors to consider when selecting a self-storage facility. These containers provide a haven for creepy crawlies to sleep, hide, and reproduce because of their darkness and quiet environment. This is dangerous for materials like leather and textiles, not to mention all the germs they might spread. While you can take all the necessary precautions to protect your belongings against pest infestation, insuring them can save you the headache if and when your entire inventory is no longer usable.
Defense against riots and other civil unrest.
Although it doesn’t happen often, storage facilities become prime targets for looting. Consider insurance as your safety net, protecting you from unrest as this may lead to losing all of your possessions. Keep in mind that not every item is protected by self-storage insurance. High-value items like money, jewelry, furs, antiques, gold, silver, and other similar objects are not covered, so you should consider your options before selecting what to keep in your storage unit.
