By: Jason Kay
Submitted: 2009-03-18 08:50:25 | Word Count: 513
A lot of people these days are using the self storage places you see around to store extra stuff they have because they just don’t have the room for it in their house. These storage places are great because they offer locks for the storage boxes, the area is patrolled or under camera surveillance and they are generally inexpensive to use.
The places may offer insurance for your storage box as well and many people wonder if it’s really worthwhile to have insurance on the stuff you have stored away. How do you decide if you need self storage insurance or not? Well the first thing to understand is how this insurance works and what exactly it covers.
[ advertisement ]
Self storage insurance, depending on the company providing the insurance and the package you get varies; however, there are specific things it should cover:
•Loss due to fire
•Loss due to flood
•Loss due to bad weather
•Loss due to theft
•Anything beyond your control to prevent
This is what self storage insurance should be used for; to protect your belongings that you have placed in a self storage location. When you have these items in your house, they are protected through your homeowner’s insurance but once you remove them from your house they are no longer covered and if anything happens to them, you are out of luck.
The cost of self storage insurance depends on the company you use and the amount you want to insure the items. This type of insurance is rather inexpensive with many companies only charging around $20 a month for $10,000 worth of coverage. This is especially important if anything you have stored is of any value.
A lot of people will store excess collectibles, especially if they have a small home, in storage and if you are planning to do this, you want that insurance. Self storage is also used to store summer things like above ground pools, yard equipment and the like. You can also use it for storing your holiday decorations throughout the year.
No matter what you are storing in a self storage location, you will want to make sure that if anything happens it, you can be reimbursed for the loss of any or all items. Now, you will want to find out what items are not covered by an insurance company. They will not all cover the same exact items and if you store something that is not covered, you will not be reimbursed for it.
Some things that are not covered by self storage insurance are:
•Financial records
•Jewelry – get a safe deposit box if you want to store things like this
•Currency
•Deeds
•Precious Stones
•Furs
•Art
•Cars other motorized vehicles
There’s actually quite a list so, before you buy any type of insurance, make sure the things you are storing are covered. Talk to the companies who offer coverage in your area and bring a list of the items you intend to store so they can let you know if your items will be covered or not.
