Should I Get Self-Storage Insurance?


Reno Gulch Self Storage
April 9th, 2023

self storage unit insurance
Self-storage is one of the most popular ways to keep items safe if you have nowhere else to keep them. People use self-storage if they are moving or if they have limited spots in their homes to keep items. If you’re storing in a unit, you have the option to purchase insurance. You might wonder - should I purchase self-storage insurance? If you’re interested in learning more about self-storage insurance, you’ve come to the right place. Read on to learn more about self-storage insurance, if you need self-storage insurance, and how much self-storage insurance costs. The more you know about self-storage insurance, the better a choice you can make for your items.

What Is Self-Storage Insurance?

Self-storage insurance is a form of security when placing items inside a storage unit. It ensures that you can replace or repair items if something catastrophic occurs and damages your belongings. If you don’t have insurance, the self-storage location might not be liable for damage that occurs. Some policies cover all your belongings, while others take care of 10% of your items. It’s critical to examine the policy at your self-storage location to determine what they offer for their price. The more you know about self-storage insurance, the better a choice you can make to keep your items safe.

Do I Need Self Storage Insurance?

Although you might not need self-storage insurance if you have cheap belongings, most professional storage unit companies require users to purchase this insurance. It keeps them free from liability if something happens to your stuff. It’s a smart technique that keeps them safe and your items secure. Self-storage locations require one of three types of insurance:

  • From the storage facility
  • Through a third-party
  • With your coverage

These will keep your items as secure as possible while they sit in the unit. If you have valuable items and live in a place where the temperature and weather vary, it’s critical to have self-storage insurance. However, you need to be ready to pay for it no matter what. Very few storage companies offer the option to go without it in today’s world.

Do Storage Lockers Require Insurance?

Although it might seem like a pain, many self-storage locations require users to have insurance before they can keep items in a locker. It keeps everyone safe in case something happens to the locker. The company is free from liabilities and the user gets money to pay for some of the damages they incurred from the disaster. There are some storage lockers where you don’t need insurance to keep your items in a unit. Some locations have variations in their policy based on the type of unit you rent. However, most locations have insurance baked into the rental agreement. You have no choice but to agree when you sign papers to use the facility. If you have to purchase self-storage insurance, what do you get from it? What does self-storage insurance cover?

What Does Self Storage Insurance Cover?

Self-storage insurance keeps everyone safe in case of a disaster. Most policies cover 10% of your items inside the unit. If your policy is worth $10,000 in items, they will cover up to $1,000. It’s a decent chunk of change for peace of mind if you are keeping your items in a unit. Policies vary, depending on location and how large the unit is. Climate-controlled units may cost more to insure than traditional units. If you don’t want to pay much for self-storage insurance, talk to the company to determine the available options. Let’s say you want self-storage insurance. How much will it cost?

How Much Is Self-Storage Insurance?

If you want $10,000 worth of coverage for your unit, expect to pay anywhere from $8 to $38 a month. The payment will depend on the provider, so take care when selecting your insurance source for your storage locker. This number might seem low, which is the case because you are covering items, not property. The more you pay, the more items you might be able to cover with your insurance. It’s crucial to read up on your policy before signing any papers to determine what you are getting for your investment. You don’t need to ensure everything, but you should have enough to clean up if something goes horribly wrong. Now that we’ve talked about self-storage insurance, is it worth it? Should you purchase it if it’s optional?

Is Self-Storage Insurance Worth It?

Although it might seem like an unnecessary expense, self-storage insurance is worth it if you have multiple items in a storage locker. Sometimes, storage units go through conditions they have no control over. The results can be catastrophic to people who store their items at the location. If you want to recover lost goods, you need insurance by your side. When selecting a self-storage location, look at the insurance policies that come with each. These will help you determine which locations are worth it and which are overcharging renters for protection. Determine the value of your items and your insurance budget, then work with available options. If you want a place to start, we can offer a locker just for you.

Contact Reno Gulf Storage for Assistance in Hill City, South Dakota

We hope this information was helpful! If you have items in a storage unit and are concerned about how well they will come out when you need them again, storage unit insurance is worth it. It will ensure you can get your money back and provides peace of mind as you leave your items in a locker.

If you live in the South Dakota area, feel free to reach out to Reno Gulch Self Storage for availability. We have helpful employees, ready to help you find a storage locker to suit your needs. If you want to invest in self-storage insurance, we can provide you with our options to keep your stored belongings secure.