It’s a question that confuses many people looking to rent self-storage space – especially if their existing homeowners or renters insurance can’t provide adequate cover for belongings held “off-premises” for long periods.
Storage facilities will try to sell you their own insurance at the point of rental, but you shouldn’t be seduced by the apparent convenience of this. The coverage they offer tends to be both inadequate and over-priced – and it’s something of a global trend. In the UK for example, storage center owners will invite renters to come in under their own insurance policy for the site – a “sharing” arrangement which can lead to complications, and severely reduced pay-outs.
This all stems from one simple fact: A storage facility won’t automatically insure any property you keep in storage there. Instead, you’ll have to take your own initiative to ensure that there’s a formalized plan in place providing legal and financial protection for your belongings held in self-storage.
Why SnapNsure™ Self Storage Insurance Coverage Makes Sense
A great way to do this is by taking out a self-storage insurance policy with a reputable independent provider like SnapNsure™. The SnapNsure™ Contents Program provides comprehensive coverage for causes of loss including fire, lightning, vandalism, burglary, and water damage. SnapNsure™ is the only company offering “Named Storm” coverage against extreme weather events, and the only provider in the US which gives you the option of also adding specific incidents coverage for Named Storms, Flood, Rodent, and Earthquake.
How Much Self Storage Insurance Coverage Do You Need?
The standard policy for SnapNsure™ Contents Coverage offers coverage for self-stored personal belongings from $2000 to a maximum of $25,000 per unit. If you’re storing high-priced valuables or rare items worth more than this, additional coverage may be underwritten separately. But regardless of the coverage amount you choose, there’s a flat deductible of $100 – which is the amount you’ll be liable to pay in respect of covered damages, before your policy kicks in.
Coverage will renew every month upon payment of your storage rental costs and your SnapNsure™ program fee. It starts as soon as your completed application is received electronically at the SnapNsure™ website – so you can even purchase coverage by mobile phone as you’re signing the storage facility’s rental contract.
If you’d like to know more about self-storage insurance coverage, contact the experts at SnapNsure™ for an assessment and quotation. Insurance at your fingertips, in a snap.
SnapNsure™ is underwritten by The Hanover Insurance Group – the holding company for one of the largest admitted insurance carriers in the United States.