What’s insured when you keep your items in a storage unit?
Self-storage units are a good way to keep the clutter out of a home, but what happens if that storage unit is damaged and possessions are ruined?
Those units are common. There are scores of them throughout the area, and more and more people are using them these days.
The Self Storage Association estimates 10 percent of households use a storage unit. It’s up to the individual to figure out if your possessions are covered.
Even though these items are stored outside the home, it’s still the your stuff. If you have a homeowners or renters insurance policy, it might be covered by that, depending on the kind of coverage.
“Call your agent and find out if you have off premises coverage,” said Michael Barry of the Insurance Information Institute.
If the policy does cover off-premises, that coverage typically includes:
- Items lost to theft
- Damage from fires
- Tornadoes and other perils listed on the policy
It doesn’t cover:
- Flooidng
- Earthquakes
- Mold and mildew
- Vermin or poor maintenance
Off premises coverage for things like storage units severely limits the payback amount on[…]
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