If you’re planning to keep your belongings in a storage unit-maybe to make space at home, during a move, or simply because you have extra stuff-it’s important to think about how to protect those items while they’re not with you. That’s where storage unit insurance comes in. This type of insurance helps pay for damage or loss to your things in a storage facility and gives you peace of mind as you leave your boxes and furniture behind.
A storage unit can often contain items worth thousands of dollars. While storage facilities usually have some level of security, that alone can’t stop every possible event. Getting the right insurance for your storage unit is an important step before closing and locking the door.
What Is Storage Unit Insurance and Why Does It Matter?
Storage unit insurance is a type of policy that protects your property stored in a self-storage facility. It’s a backup in case something unexpected happens to your things, like fire, theft, or certain kinds of water damage. Even with a sturdy lock, your items aren’t completely safe from all risks.
This insurance matters because it helps you avoid paying out of pocket to replace or fix your stuff if something bad happens. Losing the contents of a storage unit can be expensive, and insurance helps protect you from that cost.
What Does Storage Unit Insurance Cover?
Most storage unit insurance protects against damage from:
- Fire
- Theft
- Vandalism
- Certain types of water leaks
Be aware that not every cause of damage is included. For example, flooding or mold is often not covered. Read your policy so you know exactly what’s protected and what isn’t.
Who Should Have Storage Unit Insurance?
Anyone storing personal items in a storage unit should think about getting insurance. It isn’t just for antiques or collectibles-regular belongings can add up in value, too. Items like electronics, clothes, documents, and furniture are all at risk.
Some storage companies even require proof of insurance when you sign your rental agreement. Even if it’s optional, paying for coverage is a small step to avoid large losses later.
Common Risks for Stored Items
Things kept in a storage unit can face several dangers:
- Theft, even at secured sites
- Vandalism
- Fire
- Weather damage, such as leaks from storms
But most policies don’t cover problems like mold, mildew, or flooding. It’s smart to check your policy for these exclusions.
Does Renters or Homeowners Insurance Cover Stored Belongings?
Many renters or homeowners insurance policies cover your stuff even when it’s not at your main address-including things kept in a storage unit-but usually at lower coverage amounts than for items kept at home.
Look at your current policy or ask your insurance company what’s included. Don’t count on full protection, as there are often special limits for items away from home.
Off-Premises Coverage Limits
Your regular insurance may have a separate limit for things stored elsewhere. This cap is often only a percentage of your main personal property coverage. Here’s how it works:
| Main Coverage | Off-Premises Limit | Example Amount Covered |
|---|---|---|
| $50,000 | 10% | $5,000 |
If you store items worth more than this cap, you won’t be fully protected unless you buy more coverage.
What Kinds of Damage Are Covered?
Your main policy usually covers fire, theft, vandalism, and some water damage for stored items-but rarely covers mold, flooding, or mildew, whether your things are in your home or in storage. Check your policy details for specifics.
Theft Protection for Storage Units
Theft is usually covered up to your policy’s off-premises limit. If someone breaks in and steals your items from a storage unit, you can file a claim. To make this process easier, keep a list and take pictures of what you store as proof.
Should You Buy Extra Coverage for Stored Items?
If your stored belongings are worth more than the off-premises limit in your current policy, you should get more coverage. You can:
- Buy a separate storage insurance policy
- Add a special rider to your renters or homeowners insurance for expensive items
This can make sure your items are insured for what they’re really worth.
Do Storage Facilities Offer Insurance?
Many storage companies offer insurance or protection plans you can buy when you rent a unit. This is sometimes required as a rental condition. These in-house policies are easy to get, but watch out-coverage details may be quite different from a regular policy.
What Is a Storage Facility Insurance Policy?
Storage companies typically offer basic insurance covering items kept in their units, with fixed maximum payouts like $2,000, $5,000, or $10,000. These policies are usually easy to sign up for but are often limited in what and how much they cover.
How Facility Plans Differ From Personal Insurance
- Lower coverage limits compared to your home or renters policy
- May cover fewer types of problems (perils)
- Claims go through the storage company’s insurer, which could have different procedures and rules
Coverage Limits and Exclusions for Facility Plans
Storage facility policies often exclude:
- Mold and mildew damage
- Flooding
- Certain valuables (jewelry, cash, rare documents)
Review the terms before you pay for a plan to be sure it meets your needs.
How to Get Storage Unit Insurance
There are a few ways to buy storage unit insurance:
- Through the storage company when you rent a unit
- By extending your current renters or homeowners policy
- From a separate insurer specializing in storage insurance
Compare what each option provides in terms of coverage types, limits, and cost before making a choice.
Buying Insurance from Your Storage Provider
Getting insurance straight from the storage company is quick-but always ask about coverage details, exclusions, and claim limits to make sure it fully protects your belongings.
Using Your Existing Insurance
Ask your renters or homeowners insurer if your policy will cover items in a storage unit and what the coverage caps and rules are. You may be able to increase your off-premises coverage limit for an extra fee.
Getting a Separate Self-Storage Policy
If your main policy isn’t enough, think about buying stand-alone self-storage insurance. These policies often offer better limits and allow you to choose how much coverage you need. Shop around for quotes to get the best price and options.
Buying Insurance Online
You can often get quotes and buy self-storage insurance online. Make sure any website you use is secure and that you understand the policy terms before buying. Save a copy of your policy for your records.
Talking to an Insurance Agent
If you want help or are storing valuable or unusual items, you can talk to an insurance agent. They can make sure you get the right coverage and help explain anything you’re unsure about.
How Much Does Storage Insurance Cost?
The price of storage unit insurance depends on several things, but it’s usually quite affordable. Premiums vary based on how much your stuff is worth, the coverage amount you choose, the storage facility’s location, and your chosen deductible.
Things That Affect the Price
- Total value of stored items
- Certain location factors (higher crime or bad weather areas may cost more)
- Type of storage unit (climate-controlled may be cheaper)
- Your deductible amount (higher deductible usually means a lower monthly cost)
Typical Coverage Amounts and Deductibles
| Coverage Options | Approximate Deductibles |
|---|---|
| $2,000 – $10,000 or more | $100 – $500 |
Pick coverage amounts and deductibles that fit your needs and finances.
How to Record Your Property for Insurance Claims
Keeping records of what you store is important for making a claim if you ever need to. Having a list and pictures saves time and helps prove what you had if something goes wrong. Don’t skip this step.
Making an Inventory
- Write down every item you plan to store, with a brief description and value next to each one.
- Organize your list by box number, type of item, or room if that helps.
- Store your list safely-preferably not in the storage unit itself. An online copy is best.
Taking Pictures and Recording Value
- Take photos or video of each item before you pack it away.
- For valuable things, take close-up pictures and note serial numbers.
- Keep receipts if possible for expensive or hard-to-replace items.
- Estimate the price of replacing each item (not just what you paid).
Frequently Asked Questions
Insurance can be confusing. Here are answers to some common questions about insuring items in a storage unit:
What if Something Happens to My Storage Unit and I Don’t Have Insurance?
If your items are lost or damaged and you have no insurance, you’ll probably have to pay for replacements or repairs yourself. The storage building’s insurance only covers their property, not your contents.
Where Can I Buy Self-Storage Insurance?
- From the storage company
- By extending your usual renters or homeowners insurance
- From a third-party company that sells storage insurance
It’s a good idea to compare all options.
Does Storage Insurance Cover Items in Basements or Sheds?
Storage unit insurance usually covers items in commercial storage facilities only. Belongings in a basement or shed at your home are usually covered by your homeowners or renters insurance, depending on your policy.
Does Renters Insurance Cover Food or Valuables in Storage?
Most policies do not cover spoiled food in storage units since these units aren’t made for storing food. For valuables like jewelry, cash, or collectibles, there are usually low coverage limits. For expensive items, ask your insurer about extra coverage or a separate policy.
Key Points About Insuring Your Storage Unit
- Don’t assume your items are safe just because they’re stored behind a locked door-get insurance.
- Your existing home or renters policy may help but often has low limits for stored items. Check your policy and boost your limits if needed.
- Shop around for extra coverage through your storage provider, your own insurance, or separate storage unit insurance companies.
- Create a complete inventory, with photos and receipts if possible, before storing your things.
Doing these simple steps will help protect your belongings and save you trouble and money if something unexpected happens in your storage unit.