When you’re packing up your valuables to storage, there are a lot of things running through your head. Though most storage facilities have policies in place to protect the safety of your storage unit, storage property insurance is always a good idea. Here’s why:
A Storage Company’s Policy Won’t Cover Everything
Many storage companies have policies that cover items within storage units from theft or damage caused by weather events if the item has been locked up properly inside of the unit with a padlock or door seal. The problem here is that most people store their stuff in storage units without locking them up properly because they forget how they locked it last time and don’t want to leave it open for someone who might need a storage unit themselves.
Actual Cash Value vs. Replacement Cost Coverage
Most storage companies only insure your storage contents for their actual cash value, which means that if you should file a claim, they’ll give you the amount that the belongings are worth now, not what it would cost to actually replace them. This may seem like enough, but it’s really not because items tend to depreciate over time and losing something you paid top dollar for years ago isn’t fair at all. Perhaps even less so than losing an item you bought on sale or used! Replacement cost coverage is the only way to ensure that what was insured is replaced at current market value with brand new items just like they were.
Leaving Storage Contents Unattended
Storage facilities often have a policy that storage unit contents can’t be left unattended. This is to prevent harm from coming to your storage unit and its contents if something were to happen, like a fire incident or severe weather event. Although storage companies may compensate you for the damages if caught in time, it’s always best not to take chances with your storage unit items because you never know what might happen between your visits.
Your Storage Facility Could Close Unexpectedly
If you think about it, storage units are businesses just like any other business out there, so why would they stay open forever? Just like other businesses, storage companies might close without warning due to a variety of factors. This means that in the worst case scenario, you could lose all storage unit contents without any compensation.
So Many Storage Companies to Choose From
Choosing storage is becoming fast and easy with so many storage facilities popping up everywhere these days. However, choosing the right storage company (and storage facility location) can be such a headache because insurance policies vary from one storage company to another if it’s offered at all! By taking out storage property insurance ahead of time, you’ll be able to ensure your belongings are covered no matter where you store them for however long you need storage (up to the policy maximums).
As you can see, sometimes it’s just better to be safe than sorry, because storage insurance is really affordable and there’s no way you’d want to lose your storage unit contents without getting compensated. That’s why storage property insurance is a must-have for all storage facilities and storage unit owners. You never know what might happen, so consider storage company insurance now to save yourself from future hassles!
