Is Storage Insurance Required?
In the self storage industry, the customer leases a controlled-access space that they secure. Since Harwood Enterprises doesn’t control access to the unit, we don’t have any insurable interest in the belongings stored there. Harwood Enterprises Ltd. does NOT offer content insurance. If you require content insurance, your first step should be to contact your home insurer to see if the items you place in the facility will be covered by your domestic home contents policy. It may be that you are fully covered for goods stored away from home or you may be able to pay an additional small premium to get such coverage as well as during transit to and from storage.
It’s important to know that your belongings in a storage unit won’t be covered the same way as those things in your home. Depending on your policy, your stored belongings may have limited coverage and will be subject to the terms of the policy including any deductible. When using self storage, be sure to ask your insurance agent about what is and isn’t covered, and if there are any limits on coverage.
A key point to remember is that your insurance needs will change if you add to or remove items from self-storage. Check with your insurance provider before taking out a policy that it can be changed if you need to.
When considering insurance, keep in mind that you are insuring against more than just theft. Insurance can protect you against fire, floods, and accidental damage.