It’s always debatable whether to take insurance when storing goods in a self storage unit. Most people believe, and rightly so, that a self storage facility is a safe place to store their possessions. These places are designed with security in mind, and clients storing in self storage would expect that nothing could happen to their belongings whilst they are in secure storage.

However, insurance is a hedge against any form of an incident that may occur. These kinds of incidents could be related to theft or damage of the goods during that period. It means that the client will be prepared to pay a stipulated amount of money to cover the eventuality of something going wrong when the goods are in the self storage rental.

‍With self storage being such a widespread way to safely store things, the self storage facilities have gained a reputation for their safety and the way that they look after other peoples’ possessions.

Stop & Store Penrith takes all these precautions, from the security of the external borders to access and monitoring, which is what should be expected from a top self storage company. Insurance, however, is the client’s choice and we always advise our storing public to be aware of the benefits of taking insurance.

With that in mind, here are some useful pointers for consideration:

Insurance: Is It Worth it?

While some people would want to take the chance that everything will be ok when placing goods into self storage, others who are perhaps a bit more circumspect about the risk, will not.

Applying for insurance isn’t difficult or time-consuming, but some that don’t consider taking insurance could consider it a grudge purchase. They may weigh up the chance of something happening and think that insurance is just a waste of money.

How much you pay will be directly proportional to the value of the goods being insured. By under-declaring the value of your goods, you may pay less, but then again if something happens you may regret doing so. With insurance companies often offering insurance up to a certain value, it is wise to think carefully about how the load is valued.

‍In some instances, you may already be covered for insurance through a home insurance cover in the case of a relocation where temporary storage is required, so check this out first.

‍Why Should Self Storage Insurance be Necessary?

The most important consideration is that the goods that are being stored are yours and you are likely to have a personal attachment to them. In many cases, these are things that mean a lot and you wouldn’t want to lose them. The problem is that by storing them offsite they are out of sight and their security is in someone else’s hands.

You will probably find that the self storage facility encourages you to insure your goods even though they offer a genuinely safe storage environment. Covering your goods by means of insurance is a fail-safe way to make sure that you are financially safe in the event that something goes wrong.

The self storage facility may even be able to guide you to a broker or an insurance company that they recommend. In this way, taking insurance will help you sleep easy, not worrying about the safety of your possessions.

The first thing to think about is that regardless of the period of time you plan to store your things in a self storage unit, you won’t be able to take care of the things you leave there all the time. So, as safe as they seem to be, insurance is essential to protect your belongings from situations that are out of your control.

‍In addition, by taking out insurance for your things, you will have the guarantee that you will not lose your money and have great financial losses if something happens.

‍Therefore, some self storage companies make insurance mandatory thing, so they might recommend their own policies or even direct you to a specific insurance company that they are affiliated with.

‍What Could Go Wrong in Storage?

Although the chances may seem small, in reality, there are a number of instances where damage could occur to your goods when being stored offsite at a self-storage facility.

  • Your goods have to get there and back, which means that anything could happen on the road, even offloading and loading. Rain and hail could cause damage in transit movements, and other natural phenomena, even as remote as it seems, could occur.
  • It’s not impossible for damage to occur when in storage. Goods could be damaged by pests that breed and feed on fabrics or wood in the dark solitude of the self storage unit.
  • While being totally secure the occurrence of theft is always a possibility and there are breaches of security that have been known to occur.
  • Even fire is a risk, which could be caused by man or natural occurrences like lightning.

Stop & Store Penrith always recommend that goods get packed correctly to avoid any likelihood of in-transit damage and deterioration while in storage. Even with insurance in place, this is a must.

What does Insurance Cover?

The important thing to ask is whether you are covered when goods are in transit, as most insurance policies specifically cover storage purposes. Be upfront with what is being stored, as there are items like high-value goods such as bikes and cars that are not covered.

There are separate insurances for homeowners and businesses. Start with the list of what you want to be covered and shop around until you are satisfied with the cover and the adequacy of your insurance.

Check your home insurance cover when storing goods while moving. This could be covered, but there may be a storage timeframe applicable. Normally the cover is for a short-term self storage rental. If there is an extra cost involved, compare this with the separate insurance cover that you may be considering.

If there are any areas of concern when considering insurance, a reliable self storage company nearby should be able to advise you further.

Should you need any further information, please contact us on 01768 800291.

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