Does Renters Insurance Cover Storage Units?
In short, yes, renters’ insurance does cover damage to property in storage units. However, there are some factors to consider. Coverage may vary depending on the type of damage, what kinds of items you have in your storage unit, and insurance limits.
There are also steps you can take to eliminate extra risk in advance and ensure that your items are protected.
How Renters Insurance Approaches Storage Units
Renters insurance covers your personal property regardless of its location. That includes storage units.
Items such as clothing, furniture, appliances, etc., are protected by your plan. But certain valuable items like antiques, instruments, and jewelry are not always covered.
It’s important to consider your policy limits as well. If the value of your property stored in a unit exceeds the limit, you may not receive full coverage.
Types of Damages that are Covered
Insurance companies specify what kinds of damages are covered. Usually, these types of perils are covered:
- Fire
- Theft
- Vandalism
- Lightning
- Windstorms
- Hail
- Damage from vehicles or aircraft
However, certain types of perils may not be covered, such as damages as a result of lack of maintenance, earthquakes, floods, and sewer backups.
If you’re interested in making sure you’re covered in any of these situations, feel free to check out some of our other resources:
Storage Unit Coverage Tips
On top of renters’ insurance, there are additional steps you can take to assist your insurance adjuster in ensuring everything isproperly covered.
The first step is to choose a good storage unit. Right off the bat, you can eliminate the possibility of water damage, theft, and wear and tear by choosing a secure, high-quality storage unit.
Once you’ve done this, it’s important to document your belongings. Take a full inventory of the things you’re storing, along with pictures and videos. Keep any receipts of items, as they can help your insurance adjuster properly assess the value of your property.
After making a full inventory, make sure to store your things carefully and neatly. Consider items that can be damaged by temperature changes, as well as fragile items. Store everything in a way that will minimize the possibility of damage.
So, Will Renters Insurance Cover Your Storage Unit?
Generally, your storage unit is protected by renters’ insurance. However, there are a few things to consider.
Does your current policy’s limits cover all your belongings?
Are you storing antiques, jewelry, or other high-value items?
Are you concerned about flooding, earthquakes, or sewer damage?
If so, it may be a good idea to consult an insurance advisor to make sure your storage unit is completely covered.
Key Takeaways
- Renters’ insurance covers personal property in storage units, but high-value items like jewelry, antiques, and instruments may not be included.
- Policy limits matter. If the total value of your stored belongings exceeds your coverage limit, you may not be fully reimbursed.
- Common perils like fire, theft, and windstorms are typically covered. Floods, earthquakes, and sewer backups usually are not.
- Choosing a secure, high-quality storage unit can reduce risk before it becomes a claim.
- Document everything. Photos, videos, and receipts go a long way when working with an insurance adjuster.
- If you have concerns about gaps in coverage, it’s worth talking to an insurance advisor.