The Importance of Storage Insurance

Contributed by: Brian Barwig
Marketing Executive
Storage Insurance

Storage Insurance

Storage insurance is something which is often overlooked by renters when they bring their belongings to the storage facility for the first time. Many people feel their possessions are safe and secure in a storage unit because they are under lock and key. Renters research and analyze several storage facilities prior to renting often choosing facilities with gates, security cameras, outdoor lights and an on duty manager, yet they fail to think about insurance coverage. Renters need to begin looking at storage insurance more seriously.

Self storage managers may not mention storage insurance to renters if they don’t ask or seem concerned about it. One simple fact is storage insurance is a benefit to both the storage owner and consumer as both are covered in case of potential damages. Managers offering insurance to renters can have positive impacts on the storage facilities reputation and thus increase business to the facility. With an increase in media coverage of storage unit fires, theft and flooding, consumers are beginning to search for storage facilities which offer insurance. A strict contract won’t keep personal possessions from getting damaged or stolen. Insurance gives renters peace of mind knowing if something unintended occurs the value of their belongings will be safe.

Storage insurance can typically be purchased through the self storage facility or your homeowners/renters insurance. Renters should be sure to ask their insurance providers if there is an added fee for insuring items which are not kept at home. Some insurance companies charge extra for insuring items which are kept in other places than your home/apartment. At any rate, storage insurance is a no brainer for storage owners and consumers themselves.

The peace of mind a renter has knowing their belongings are safe and secure in a storage unit while still retaining 100% of their value in case of unforeseen damages is priceless to them. Storage owners can increase their business and better their reputation by offering insurance to renters as they come in the door. It is a win-win situation for both parties.

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