According to the Self Storage Association, approximately 10.8 million people in the U.S. rent a self storage unit. If that number includes you, it is time to consider insuring the property you have placed in storage. If you are currently without storage insurance, you should reconsider protecting your property. Here are some tips on how insurance can protect your property in storage.
Know how insurance can protect your property in storage
A standard homeowner’s or renters insurance policy will often cover your property no matter where it is located. However, storage units do not provide the same protection for items that your home does. Check your policy terms to see if coverages change for items placed in storage. This is known as the coverage limit.
Check with your insurance agent to be sure of your coverage and to know what the limits are on insurance protections for your property. If you are storing a vehicle, you may not have any coverage for it. If you do not have coverage, you will have to purchase separate insurance for each vehicle.
Understand restrictions on storing certain items
You must know any restricted items not allowed at your storage facility. Many facilities have restrictions on storing chemicals such as paint, solvent, cleaners, oil, gasoline, and other combustibles. Breaking the agreement by storing these items would void your rental contract and may pose a liability risk to you if the items caused damaged.
Many insurance policies have a ceiling of $100,000, so you will need an umbrella policy if your stored items are worth more. If you are found legally liable for destruction of items in a self storage unit, your homeowner’s or renter’s insurance could provide you with coverage.
Self storage solutions in Amarillo, TX
Looking for a place to store your extra items in the Amarillo area? Call Sparky’s Storage Solutions in Amarillo, Texas for help with storing your property. We offer many services including an access controlled gate and closed circuit recorded surveillance. Call us today at (806) 353-9500 or Contact Us by by email for more information about the features and sizes of our units.You can also visit us online at www.sparkysstorage.com. You can also visit our location in person at 7550 Golden Pond Place in Amarillo.