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Does HomeownerSelf-storage units have gained popularity among homeowners and individuals seeking secure and spacious options for storing their possessions. These units offer not only additional space but also a safe alternative for items that you prefer not to keep at home or require extra storage during a move.

Storage facilities are usually well-constructed, featuring security cameras and fenced perimeters to deter theft and damage. However, it's important to note that storage facilities cannot prevent natural disasters. Therefore, it is essential to have insurance coverage to protect your items stored inside the unit.

While homeowner’s insurance is a valuable asset for protecting your belongings within your home, questions may arise when it comes to storing your possessions in a storage unit. Does your existing insurance policy extend coverage to storage units? 

We'll address the most common questions about storage unit insurance, including whether your homeowner's insurance covers storage units and what is typically included or excluded in such coverage.

What Is Storage Unit Insurance?

Storage unit insurance is designed to protect your personal belongings while they are stored away from your primary residence. Having insurance in place is critical whether you're renting a storage space for a few months or several years. Storage unit insurance functions similarly to homeowner’s insurance in that it protects your items against theft, damage, or loss.

This insurance typically provides coverage for a wide range of scenarios, including natural disasters like fires or floods, break-ins, and damage caused by factors like pests or mold. It’s important to note that storage unit insurance is often separate from the facility’s insurance, which usually covers only the building itself, not the contents of individual units.

You can obtain storage unit insurance by adding a rider to your existing homeowner's insurance policy or by purchasing a standalone policy offered by various insurance providers. The cost of this insurance will depend on factors such as the value of the items being stored and the level of coverage you desire.

It's advisable to carefully review the policy terms, coverage limits, and deductibles to ensure your stored belongings are adequately protected. In the unfortunate event of a loss, you can file a claim to receive compensation for the damaged or stolen items, allowing you to have peace of mind while utilizing storage facilities.

Will My Homeowner’s Insurance Cover My Storage Unit?

The answer to whether your homeowner's insurance covers your storage unit depends on your policy. In many cases, homeowner’s insurance may provide some level of coverage for personal property stored off-premises.

However, this coverage is often limited, typically around 10% of your overall personal property coverage. So, if your homeowner's insurance covers $200,000 worth of personal property, you might have up to $20,000 in coverage for items in your storage unit.

What’s Covered By Storage Unit Insurance?

Storage unit insurance typically covers the same perils as homeowner’s insurance. This includes protection against theft, fire, vandalism, and natural disasters like floods and earthquakes. However, additional policies may be required for some natural disasters. Your coverage may also extend to items damaged during transit to and from the storage unit.

When Are Storage Units Not Covered By Homeowner’s Insurance?

While homeowner’s insurance can provide coverage for storage units, there are situations where your belongings may not be covered:

  • Exceeding Policy Limits: If the value of the items in your storage unit exceeds the off-premises coverage limit of your policy, you may need to purchase additional coverage.
  • Lack of Disclosure: Failing to notify your insurance provider that you're using a storage unit may result in a denied claim if you experience a loss.
  • Excluded Perils: Some homeowner’s insurance policies may exclude coverage for certain perils, such as vermin infestations or mold growth, which could be relevant in a storage unit context.
  • Lapsed Coverage: If your homeowner's insurance policy lapses or is canceled, your stored belongings will no longer be covered.
  • Illegal Activities: If your stored items are linked to illegal activities or contraband, your insurance provider may deny coverage.
  • Storage Facility Negligence: If your items are damaged due to the storage facility's negligence or failure to maintain adequate security, you may need to pursue compensation through the facility's insurance or legal means.

Secure Your Belongings With Insurance at Jumbo Storage

Jumbo Storage understands the importance of protecting your stored belongings. Our storage units are equipped with top-notch security features to ensure the safety of your item. While amenities like climate control and security systems are in place to safeguard your belongings, storage insurance is there to provide you with coverage in the event of theft or damage. 

Although the added cost of investing in storage insurance can prove to be a valuable decision for individuals seeking to store their valuables securely, if you already have homeowner’s insurance, it’s important to review your policy’s limitations and consider purchasing additional coverage if needed. 

If you're in search of secure, well-maintained, and ready-to-rent storage units, look no further than Jumbo Storage in Asheville, NC. We provide an extensive range of storage unit sizes and types to cater to your specific requirements. To learn more about the sizes of our available storage units, please feel free to contact us today.