Millions of Amercians are trusting their valuables and items to self storage facilities every year, for both short and long term durations. While many people choose self storage solutions when relocating or for other short term purposes, an important thing to consider is the best ways to keep your possessions safe.
Storage units themselves aren’t immune from disasters or other freak incidents that could result in your property being damaged – which is why it could be a good idea to consider insuring your storage unit.
Why Insuring Is Necessary
Insurance is a recommended aspect when it comes to storing or keeping anything outside of your own care for a prolonged period of time. National statistics report that over a million storage units are damaged or destroyed by arson or natural disasters every year.
Another chilling fact, is that out of these damages, only about 20% of the people who are responsible for said damage are found and charged – meaning that the possibilities of you receiving compensation for your lost or stolen items are incredibly low.
Having insurance on your storage unit will not only give you peace of mind when storing your possessions, but can also very well end up being the saving grace for you (and your wallet) if anything ever happens.
Basic Liability Info
Many storage solutions will require that you already have some sort of insurance, such as renters or home insurance before purchasing a storage unit. On top of this, some units will offer a premium insurance to give you even more protection.
On top of that, it’s important to note that there are sometimes limits to amount of value that can be legally covered by storage unit insurance. For example, a limitation of $1,000 or 10% of the policy’s personal property limit, whichever value is greater.
Other Things to Consider
There are other things to consider when determining whether or not it’s a good idea to purchase additional insurance for your storage unit.
For example, the following items and types of property damage are typically excluded from storage insurance policies:
- Motor vehicles
- Damage resulting from the actions of insects, rodents, or other vermin
- So-called “missing” items
Conclusion
Long story short, life happens. And when life happens in unexpected and undesired ways (arson, crime, natural disasters), it is a much better feeling when you have peace of mind that your possessions are protected, physically and value wise. If you’re looking for a self storage option that has steller insurance programs, Star Self Storage Wausau is a locally-owned operator that rents out storage units with custom options ranging from various size units and climate controlled units in Central Wisconsin. We have 3 locations with multiple buildings at each site, offering rental space in a variety of sizes to fit your needs.