Why Storage Unit Insurance Is Essential for Your Peace of Mind

As our lives progress, the number of our possessions tend to add up over time, often outgrowing the space we have available at home. If you have found that your attic or closets no longer suffice, renting a storage unit might be the perfect solution. Storage units are an effective way to safely house your belongings while keeping them accessible and secure.

If you do decide to rent a storage unit for your belongings, purchasing insurance for your storage unit is something you should seriously consider, especially if you will be storing important or valuable items. This added coverage ensures your things are protected against unforeseen events, like accidents or natural disasters.

Home insurance policies typically offer limited protection for personal belongings stored off-site, but the coverage is often minimal. So, if you have a significant amount of things or high-value goods in your storage unit, your home insurance may not provide enough coverage to fully protect them.

In fact, many storage facilities require tenants to have some form of insurance before they can rent a unit, ensuring that both the facility and the items stored are covered in the event of damage or loss.

When you are evaluating possible insurance policies for your unit, it is important to clarify what risks are covered, as certain perils, such as natural disasters, war, and pest damage, may be excluded. For high-value items, like jewelry or antiques, you may need to secure additional coverage beyond what a basic storage insurance policy offers.

Common Risks When Renting a Storage Unit, and How Storage Unit Insurance Mitigates Them

Storage units generally keep your items very safe and secure, but there are still various risks that can put your belongings in jeopardy. From unexpected accidents to natural events, these risks can lead to costly damage or loss. However, having the right storage insurance can provide a safety net, ensuring you are covered in case the unexpected happens.

The following are some of the common risks that you face when you have a storage unit, along with the ways that storage unit insurance can help you mitigate them:

1. Theft protection

One of the most significant risks you face when renting a storage unit is the possibility of theft. 

While some storage insurance policies may not cover losses tied to theft, you may want to search for one that does. When you do, it is important to know the specific requirements for making a claim. To successfully file a claim, you will need to provide proof that the break-in was forced, such as damaged locks, broken doors, or other signs of unauthorized access.

Since many storage facilities have security measures in place to prevent theft, like surveillance cameras or alarm systems, your insurance provider will want to ensure that the loss was not due to negligence or a lack of security on the facility’s part.

In some cases, even with evidence of forced entry, insurance policies may have limits on how much can be reimbursed. Therefore, it is important to clarify these details with your insurance provider.

Additionally, some insurance policies may only cover losses if the unit was fully secured. Thus, it is essential to use robust locks and follow the facility’s guidelines to ensure full protection.

2. Fire damage

Fire can pose a serious threat to stored items. A fire can start from an internal source, like faulty electrical equipment within the building, or an external cause, such as a wildfire or nearby building fire.

In most cases, insurance for a storage unit will cover the damage caused by the fire, including smoke and heat damage, which can be equally destructive to your belongings. Fire damage is typically one of the more comprehensive forms of coverage, as it protects against a wide range of incidents, from small fires to more catastrophic blazes.

However, it is critical to keep in mind that storage unit insurance policies often exclude coverage if the fire results from your own actions, such as the storage of illegal or hazardous materials.

3. Vandalism

Storage units can also be vulnerable to vandalism, and the consequences can range from minor damage, like graffiti on the walls, to destruction of your stored items. Acts of vandalism can result in the need for costly repairs or replacements for your belongings.

Fortunately, most storage insurance policies include coverage for damages resulting from vandalism, which can help you recover your losses if something happens to your possessions due to intentional acts of harm.

The types of damages covered may include broken locks, broken items due to the vandal’s actions, or even theft of goods if the vandalism results in the opportunity for further crime.

However, it is important to verify with your insurance provider what qualifies as vandalism under your policy, as there may be exclusions for specific types of damage or certain acts that may not be considered vandalism.

4. Water damage

Water damage is another major concern when it comes to keeping items in a storage unit, particularly if the facility experiences plumbing issues, broken pipes, or leaks from the roof or walls.

Many storage insurance policies cover water damage caused by internal problems within the facility, such as faulty water systems, allowing you to recover the value of your damaged goods. Water damage can be particularly devastating to items like furniture, electronics, and clothing, which can be irreparably harmed by prolonged exposure to moisture.

While coverage for water damage typically applies to these kinds of issues, it is important to be aware that insurance for storage units generally does not extend to overland flood damage.

If your unit is located in an area prone to flooding or is subject to heavy rainfall, you might need to purchase additional coverage specifically for overland flood-related damage to ensure your belongings are fully protected should a natural disaster take place.

How Abacus Self Storage Can Satisfy All Your Storage Insurance Needs

If you need a reliable storage facility that can also offer storage insurance so your belongings have multiple layers of protection, Abacus Self Storage can provide exactly that.

To ensure your peace of mind, Abacus has affordable, specialized storage insurance designed specifically for the contents of your unit. Typical coverage is up to $25,000 per unit (with a deductible of $500), at a relatively small cost to protect items that matter most to you.

At Abacus Self Storage, we take extensive measures to minimize the risks on our property. We have fire safety systems that are regularly inspected and maintained, a steel roof, state-of-the-art security systems, intrusion and alarmed monitoring systems, and robust backup emergency power systems.

However, it is impossible to entirely eliminate all risks, which is why it is a smart idea to invest in our low-cost insurance for storage units so that you have a possible cost recovery remedy in the event of losses related to your stored belongings.

For more information about our storage insurance, or to learn more about the other benefits of keeping your things stored at our facility, call Abacus Self Storage at 289-807-1033 or contact us here.