Moving Main Header

Learning About Renter's Insurance for Storage Units

Renter's insurance coverage is something that most people consider when they become homeowners and renters. However, you can also purchase renter's insurance for your storage unit if you want to protect your belongings. You may wonder if this is worth doing, so we want to talk about storage unit insurance and what it will cover when you purchase it.

What Is Renter's Insurance for Storage Units?

Your storage company and other businesses may offer renter's insurance for your storage unit. Renter's insurance exists as a way for you to protect high-value items that you keep in your storage unit. For example, some types of insurance will compensate you for anything that you lose up to a predetermined maximum amount.

You can find an insurance company that will offer coverage on your storage unit. However, this makes it different from home insurance: it's not the storage unit itself that you cover with insurance but your belongings that are inside of the unit. In short, you can pay an insurance company to protect the belongings that you keep in storage facilities.

What Does Renter's Insurance Cover?

Keep in mind that different types of renter's insurance cover various items or belongings. This will depend on the renter's insurance that you purchase, so it will cover items mentioned in your insurance plan. For example, you could purchase renter's insurance that will cover any items stored that are worth more than $50 up to a certain point.

These plans will also include coverage limits which means that you can only receive compensation up to a predetermined value. Also, they will only cover your belongings stored in a storage unit, so put everything in there that you want to be protected by your insurance. This way, you will have personal property coverage on the belongings that you keep in storage.

Common Disasters and Situations That Apply

Natural disasters are beyond your control, so they will be covered in your renter's insurance. For example, it will cover damages caused by floods, fires, tornadoes and other disasters that could happen. This way, you will receive compensation when your personal belongings are damaged during these various situations.

Some insurance companies will offer additional coverage for other disasters or problems that you could face. Some insurance plans will cover theft, which can potentially happen if you use a storage unit. However, the situation will need to fall under certain circumstances if you want premises coverage on your belongings.

If you plan to have protection on your property stored in the storage unit, then you should look into your renter's insurance options. You can always talk with the insurance company to see what circumstances the insurance will cover and how much they will offer you. Do your research so you can find the best options for storage unit insurance in your area.