A Brief Guide To Self-storage Insurance

In order to ensure you get the correct insurance and the best deal, make sure you give the full facts when applying for insurance - if you do not, your policy may not be valid if you make a claim. Sometimes insurance sales staff put undue pressure on people to buy insurance they may not need or could get cheaper elsewhere, so it is better to obtain a series of quotes and then take your time looking through them - you can then contact the provider you prefer in your own time.

You have, of course, selected a reputable self-storage firm, haven't you? If the insurance broker has any doubts about the storage company's equipment, security measures or premises you might well find it hard to get insurance.

Normally, the insurance on self-storage will cover all your home contents and personal items such as sports equipment, boats, motorcycles, cycles and trailers whilst they are within an individual self-storage unit for an agreed period (the location and period of hire will be named on the insurance documents). You will often need to make separate arrangements to insure property relating to any business or commercial venture. You will, most usually, be covered for physical loss of or damage to your possessions arising from instances that your home insurance will be covered for, such as fire, explosion, lightning, storm, flood, burst pipes, impact by road vehicles, vandalism and theft.

There will, of course, be exclusions and you should check these with your insurer. These might include a maximum limit of £5,000 on individual items - so you will need to specify items above the maximum and give its value in the insurance policy (if anything is not itemised in the policy it won't be covered). There are usually limits on the value and quantity of certain items in the self-storage area, for example Insurastore puts a limit of no more than £500 for jewellery, watches, money, precious stones, deeds, bonds and securities. Other exclusions might include stamps, lottery tickets, living creatures and plants, so if you are using the unit during a house move or while you rent, make sure you know what you can and can't store, such as that coin collection or those house plants.

For insurance purposes, your home contents and personal effects are normally valued at the new replacement cost. Other items, like antiques, fine art, boats, clothes, motorcycles, cycles and trailers, are likely to be valued at their market value, rather than new. And remember if you are planning to store documents and digital data, you should note that they may only be valued at their new stationery costs (not their value to you.)

Some insurers will cover your possessions on the way to and from the storage facility, again with certain conditions attached. They may not, for instance, insure you for loss or damage where the vehicle was unattended or for more than an upper limit, say £10,000.

Finally, you should also check the offer is right for you and ask questions if you are unsure, particulally about the small print. Remember, with insurance, do not always buy on price alone; shop around and compare levels of cover as well.

By: Eddieb

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Insurastore provides low cost flexible and comprehensive new for old self storage insurance for household and domestic storage in a self storage facility or unit within the UK. Permission is granted to publish this article electronically provided that a working hyperlink remains to our website.