Do You Need Storage Unit Insurance?

In a rush? Here’s our tl;dr take on storage insurance:

• Storage insurance covers your losses in case of damage or theft.
• Some storage facilities require storage insurance.
• There are three main options for storage insurance: homeowner/renters insurance, the storage facility’s insurance, and third-party insurance.
• You should always inventory your items before putting them in storage.
• And even if a facility doesn’t require insurance, it’s definitely good to have.

Every provider is different, but you can expect the following to be covered in your policy:

• Weather: Storms can cause floods, and snow can melt and drip into your storage unit. “Weather” can also refer to full-on natural disasters - think hurricanes, wildfires, and more. If your insurance covers weather, double-check for a clause about these.

• Theft: Ideally, your storage provider will have fences, razor wire, cameras, and on-site security to keep the bad guys out. And ideally, you’ll have a sturdy lock on your unit, too. But if all this fails, you’ll be thankful your storage insurance covers theft.

• Vandalism: Sometimes the bad guys don’t even steal stuff. While it’s less likely they’ll break in to bust up your old furniture, they could always graffiti that RV you’ve parked in the storage yard. Vandalism happens, too, so make sure you’re covered.

• Storage Facility Destruction: Yes, an entire storage facility being deleted from the face of the earth probably means something a lot more major is going on, but won’t you be glad to have your payout once the dust settles?

• Pests (Sometimes): Bugs and mice can find their way into just about anything. Only downside? Pests aren’t always covered by storage insurance. Read the fine print carefully to make sure you’re getting a plan that covers every eventuality.

• Mold (Sometimes): Just like pests, mold isn’t always covered by storage insurance. Do some shopping around and compare coverage for different plans. Depending on where you live (e.g. the South, or anywhere else that’s really humid), mold coverage is a must.

Remember: Always read through your insurance policy so you know what you’re getting for your money.

It’s rare, but it happens: You open your storage unit, and find your items have been damaged - or worse, stolen. Don’t panic. Here’s how to file your storage insurance claim:

1. Double-check your insurance policy. Before you go making any calls, make sure your insurance policy covers the damage in the first place. If you’ve done your homework and booked the best plan possible, it should.
2. Document everything. We know it’s tempting, but don’t dive in to search for your most-wanted items - at least not yet. Instead, take plenty of pictures from the outside. You want to document the unit as is, and preferably, leave it as is, too.
3. Notify the storage facility ASAP. Once you’ve taken your photos (and possibly even video), notify your storage facility. Unscrupulous operators may try to cover up the damage, so if you have your evidence first, you can catch them red-handed.
4. Was it theft? Contact the cops, too - and get a copy of the report. Getting the police involved may sound like a hassle, but you’ll really need that police report. Besides, if a storage facility tries to get you to back out from calling the cops, that’s a red flag.
5. Get started with your claim. Depending on your insurance provider, this step usually involves downloading/filling forms, or proceeding with an online utility. Have all of your documents and documentation on hand before you start.
6. Make sure you submit a copy of your coverage certificate. Your insurance provider won’t do anything for you unless you prove that you paid for one of their plans in the first place. Provide a copy of your coverage certificate along with your evidence.
7. Communicate with your insurance adjuster. Your insurance provider will get you in touch with an insurance adjuster to handle the next steps: They’ll interview you, and in some cases, look over the damage. Their job is to play down the damage; don’t give in.
8. Sit tight. Aside from “opening your storage unit to discover damage or theft”, the waiting is probably the hardest step. It’ll take a few days to process the claim. If it takes longer than that, you can also do follow-up with the company.

It’s a good idea to book storage insurance, but only if you’re smart about it. Follow these instructions if you want to keep things covered.

• Don’t make any assumptions about your homeowners insurance. Already have homeowners or renters insurance? Great! Just make sure it actually covers storage. Your home or apartment may be covered, but a storage unit is a completely different deal.

• Don’t forget to inventory your items. This is a good practice for storage, but also for local and long distance moving. You’ve packed boxes and labeled them - now, put them in a spreadsheet, and take detailed photos of your furniture.

• Make sure you read the fine print. Some storage providers offer insurance coverage, but there may or may not be exclusions. Some don’t cover mold or mildew, some don’t cover pests like moths or mice. Read the fine print, and…

• Compare multiple insurance providers. You want minimal gaps in your insurance coverage. You also want a price that doesn’t leave you bankrupt. Compare plans, compare providers, and compare customer feedback.
• Don’t put anything super valuable in your storage unit. Storage units are great for furniture, clothes, even the odd electronic or two. But family heirlooms, jewelry, high-value artwork… that stuff belongs in a safe-deposit box, or other specialty facility.

Storage insurance is pretty straightforward to book, but if you’re in a rush, don’t forget these key steps:

• Look at your storage contract. You’ll have to sign a storage contract with the facility operator. Check for an insurance requirement. If they’re charging you for their own insurance, you might be able to score a discount if you already have insurance.

• Compare your storage insurance options. Always compare plans and options - don’t just blindly sign whatever’s easiest or most convenient. If you don’t have time to shop around, see if your storage facility has separate tiers of insurance plans.

• Book your storage insurance. You may be in a hurry, and you may be tempted to blow this whole thing off. But you never know what the future holds - and a few bucks a month is a great deal for peace of mind.

• Take inventory of your stuff. Take photos. Take video. Heck, write down everything and catalogue it all on a spreadsheet. Just make sure you know what’s in your storage unit, and make sure you can prove its condition if anything bad happens.

Storage insurance is a great safety net. So is booking with a secure storage provider in the first place.

At iMoving, we made it easy. Use our marketplace to shop around, compare prices, and book storage from the best facilities in the business - all from the comfort of your web browser.