Short answer: Yes.
Long answer: Yes!
Self Storage Insurance is about mitigating risk. We buy car insurance in case we get into an accident, we don’t want to get into an accident, but we buy the insurance IN CASE. We buy life insurance to help our loved ones after we die…we don’t want to die, but we buy it…IN CASE. The same goes for storing your belongings. What it boils down to is that if you care enough about your belongings to pay to store them, then it stands to reason that you want to protect them.
Handy Lock is located along the Gulf Coasts of Mississippi and Alabama and we just went through Hurricane Nate. While our locations fared really well, the point is that it could have been worse. The insurance that Handy Lock offers includes many weather related events.
“Am I covered by my homeowners/renters insurance?”
Maybe. The only way to really know is to ask your insurance agent or look at the “Declarations Page” of your insurance policy. Often it will have that information on there, if not, or if you are not sure, then definitely contact your insurance agent and ensure that your belongings are covered if stored in an off-site storage facility.
“What if I have a claim?”
Like with any insurance, if you have a claim, you call the agent/agency that issued the insurance.
“What does storage insurance cover?”
All types of storage insurance is different, the insurance company that Handy Lock recommends offers coverage for fire, lightning, windstorm, hail, weight of ice or snow (not that we see that too often in South Mississippi and Alabama), collapse of building, smoke, water damage (except flood), vandalism, malicious mischief, or burglary. Check with your local storage facility to see the coverage provided.
Many people look at the monthly cost…but we ask you, if you had to replace everything in your storage unit, is that monthly cost that much? Remember, no one likes to pay for insurance, but everyone is happy that they paid for the coverage when their claim gets paid and they replace the material things that were lost or damaged.
The takeaway here is…do you like to play it safe or do you like to live on the edge? If you have read this far, I’m willing to bet that you have been calculating the replacement cost of your storage belongings. Don’t wait…call your storage facility today and make sure your belongings are covered…just in case.