Does Homeowners Insurance Cover Self Storage Units?
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Homeowners insurance can cover items in self storage units, but the coverage will usually only represent a percentage of the total personal property coverage. Choosing a storage company that has in-built insurance can provide extra peace of mind.
Most homeowners insurance policies will include personal property coverage. This coverage will protect belongings (such as clothes, appliances, electronics and furniture) even when outside of your house - but only up to the coverage limits stated in your policy.
For extra protection, you can take out additional insurance to cover your items in storage or choose secure, climate-controlled facilities which reduce the risk of damage.
Looking for safe, secure storage? The Box Co. offers storage by the box with £100 insurance per box as standard - so you don’t need to look elsewhere to get insured.
What is Homeowners Insurance and What Does it Cover?
Homeowners insurance offers financial protection for your home and personal property in the case of fires, theft, natural disasters and other harmful events.
Most standard homeowners insurance policies will include:
Dwelling coverage - this protects the actual structure of your home
Personal property coverage - this covers personal belongings, both inside and outside of the property
Liability coverage - this protects against any legal claims against your property from third-party injuries
Other structures coverage - if you have structures separate from your main dwelling (e.g. a shed or a garage), you might have this type of coverage to protect those structures.
Does Homeowners Insurance Cover Personal Items Outside of the Home?
The majority of homeowners insurance policies include personal property coverage which protects personal belongings even when outside the home, for example in a storage unit.
However, this is limited. Policies will usually have a limit on how much coverage there is for offsite items. This varies between insurance companies but will usually be around 10% of your total coverage.
What Insurance Do I Need for Storage?
Personal property coverage, included in most homeowners insurance policies, is usually enough to cover items in storage. Having this insurance in place can protect against unexpected events such as fire, water damage or theft.
If your homeowners insurance policy is limited or you are storing especially valuable items, you may want to take out separate insurance. Personal storage insurance could be a good idea - especially if you are storing items such as expensive electronics, valuable antiques or important documents.
If storing valuable items externally, you may also want to look at supplemental insurance solutions like an off-premises coverage extension. This expands the coverage of your existing homeowners insurance policy to more thoroughly protect items stored outside of the home, including in storage units.
Alternatively, look for a company like The Box Co. that includes insurance within the price of every booking. This can give you peace of mind, without a big bill.
How Can I Know if my Homeowners Insurance Covers Storage?
Reviewing your homeowners insurance policy details can help you see what is covered and where you might need extra coverage.
The policy will lay out specific scenarios in which off site coverage may be restricted and can give you a better idea of whether your storage items would be protected.
When Might my Homeowners Insurance Not Cover my Storage Unit?
Certain limitations and exclusions could impact whether items in storage are covered and how much coverage they will have.
Although homeowners insurance can extend to outside of the home, there are some limitations when it comes to storing certain items in external storage including high-value items (such as jewellery and electronics), vehicles or business inventory.
If you are storing any of these items, you may need to take out personal property coverage or another more specialised coverage.
Policies may also exclude damage by certain causes. Common exclusions include:
- Theft and vandalism for certain items
- Water damage (particularly in non-climate-controlled storage units)
- Natural disasters like earthquakes
- Damage from pests such as rodents or insects
Checking the limitations and exclusions up front can save you from a nasty surprise in the future. If you want to store particularly valuable items and see that they are not covered in your standard insurance policy, you may want to seek out supplementary insurance or book with a company that includes insurance within the price of storage.
How Can I Keep My Items Protected in Storage?
Beyond insurance, there are other measures you can take to protect your items in storage.
High security storage facilities - When seeking storage for your items, make sure you choose a company for whom the safety and security of your belongings is a priority. Look for storage facilities equipped with security measures such as 24/7 surveillance and strict access controls.
Climate-controlled facilities - Climate-controlled storage facilities protect against humidity and different temperatures. They can be a good option when storing important documents or antiques.
Proper packaging for your items - Take care to use high-quality packaging for your items, like bubble wrap, furniture covers or airtight containers where relevant. When packing valuable or delicate items, marking the box as fragile can help you remember to be extra careful with those boxes.
Proper packaging can help to keep your items safe and protected while in storage.
Protect Your Storage Items with The Box Co.
At The Box Co., we take every precaution to ensure the security of your items with high quality packaging materials, 24/7 surveillance and strict access controls across all our storage facilities.
We also add an extra layer of protection with a £100-per-box insurance coverage as standard. Whether your homeowners insurance covers self storage units or not, you can rest easy knowing that your items stored with us are safe.
Get a free quote today and enjoy simpler and more secure storage with The Box Co.
