Does renters insurance cover storage units?

Renters insurance can help reimburse you if your personal belongings are damaged, destroyed, or stolen — whether in your home or elsewhere. In fact, many policies cover your stuff even when it’s outside your home, which is known as off-premises coverage.

That includes items you keep in a storage unit, although coverage is usually limited. Some insurers cap the amount they’ll pay for things in storage, and items used for business may not be covered at all.

If your renters policy doesn’t offer enough protection for what you’re storing, you might want to consider a separate storage insurance policy instead.

What renters insurance covers in storage units

Renters insurance protects against any damage or loss caused by a covered peril as outlined in your policy. Covered perils include fire, smoke, lightning, windstorms and hail, theft and vandalism, falling objects and explosions, and accidental discharge of water or steam.

The “majority of renters insurance policies offer off-premises coverage, which implies that your personal possessions are covered even when they are not at home, including in the storage units,” says Rami Sneineh, a licensed insurance producer and the vice president of Insurance Navy.

“You should take a look at your policy to make sure that it covers storage units and to what degree it covers storage units,” Sneineh said.

Insurers usually make only a few distinctions between items in your residence and those stored off-premises. The type of property, not where it’s located, is more important, as insurers place special limits of liability — the total amount they’ll cover — on high-value items like money, precious metals, jewelry, and electronics.

How much coverage does renters insurance provide for storage units?

When you purchase renters insurance, you can choose your coverage amounts, called limits of liability. You’ll also have a deductible, which is the amount you’ll pay out of pocket for a claim, with the insurance covering the remaining amount.

For personal property coverage, you’ll want to choose an amount that reflects the value of your items. However, this limit of liability only applies to items in your home or that are being moved from your home because it is being repaired, renovated, or rebuilt. Items stored outside your home have a separate limit of liability, as defined by your policy. 

Off-premises coverage, which includes items in storage units, is often around 10% of your total coverage amount, or $1,000, whichever is greater.

“Depending on your renters insurance, say that it covers $50,000 in personal property, then your storage unit insurance may only cover $5,000,” says Sneineh.

What isn’t covered by renters insurance in a storage unit?

Most of the same restrictions on coverage for your personal property at home apply to a storage unit.

Special limits of liability

High-value items — like jewelry, cash, electronics, collectibles, fine art, firearms, and similar belongings — often have a special liability limit. This means your insurance will only cover them up to a much lower amount than your overall coverage limit.

Because items in storage units already fall under reduced coverage, replacing high-value items kept in storage could easily exceed both the off-premises coverage limit and the special item limits.

Renters insurance may also cover property you use for business, but there are typically special limits on that, too. And if your policy does include business property, you’ll usually get more coverage if it’s stored at home rather than in a storage unit.

Certain items not covered

Some items may not be covered by renters insurance. These include cars, hovercraft, and aircraft, live animals (and no, you shouldn’t be putting animals in storage units), a roommate’s property (unless they’re related to you), and anything separately covered by your insurance (known as scheduled property), or by another insurance policy.

In addition, certain items covered in your home may not be in your storage unit, although the rules differ from insurer to insurer. These items could include business merchandise for sale or delivery, rented property, and computers.

Can I increase coverage for items in a storage unit?

You have a few options if you want more coverage for items in a storage unit. Start by talking to your insurance company. They might let you raise the coverage limit for off-premises property or allow you to schedule certain high-value items separately, which means those items get their own specific coverage limits. Just keep in mind that scheduling items usually comes with higher premiums.

If their options don’t meet your needs, consider shopping around. Other insurers may offer better terms, like higher coverage limits. For example, one company might cap storage coverage at a flat dollar amount, while another may offer a percentage of your total personal property limit.

What types of storage units are covered by renters insurance?

Generally, renters insurance covers your personal property no matter where it’s stored — including in storage units. That means all types of storage units are typically covered, whether they’re climate-controlled, outdoor, indoor or drive-up.

Coverage limits and exclusions are based on the type of property you’re storing, not the storage facility itself. For example, high-value items like jewelry or electronics may be subject to special limits, and business-related items may have reduced or no coverage, depending on your policy.

Always check the details of your renters insurance policy or speak with your insurer to understand how your stored belongings are protected.

When should you consider storage insurance?

If your renters insurance doesn’t offer enough coverage for the items you’re storing off-premises — and you can’t find a policy with higher limits — it may be time to look into storage insurance. You can buy this separate policy from an insurance provider or directly through the storage facility. It’s designed to offer higher coverage amounts specifically for stored belongings.

What does storage insurance cover?

Like renters insurance, storage insurance covers common risks such as fire, theft and windstorms. However, some policies also protect against perils that renters insurance usually excludes, like flooding, mold, or earthquakes. Coverage and exclusions vary by provider, so read the fine print and compare policies before choosing one.

If you’re storing high-value items or just want extra peace of mind, storage insurance can fill the gap where renters insurance falls short.

How to file a claim for items in a storage unit

Filing a claim for items in a storage unit is almost the same as filing one for items in your home.

Start by gathering evidence. If the loss was due to a covered peril, such as fire or water damage, take clear photos of the damage. If your items were stolen or vandalized, file a police report and keep a copy — you’ll need it when submitting your claim.

Next, create an inventory of the items you’re claiming under your policy. The more documentation you have, the better. Receipts, order confirmations, appraisals or photos showing ownership and value can help speed up the process and support your claim.

Once your documentation is ready, file the claim with your insurer. Many companies allow you to do this online through their claims portal, while others may require you to call and speak with an agent. Be sure to follow your insurer’s specific steps and deadlines to avoid delays.

Keep in mind any deductibles or off-premises limits that may reduce your payout. 

“In case your storage facility suffers a loss, you will have to take care of the deductible on your own, until the insurance comes in,” Sneineh says. “Suppose your deductible is $500 and you have $1,000 worth of items damaged or stolen out of your storage unit, then your insurance would cover the remaining amount you would have to pay, of course, being $500.”

How to choose the right renters insurance if you use a storage unit

If you have a self-storage unit, choosing the right renters insurance policy is crucial. While many policies offer similar coverage, they may contain small differences that add up to significant reimbursements if you ever need to file a claim.

Here’s what to look for:

• Generous off-premises coverage limits. Since some insurers limit coverage to a flat rate, you may have better coverage if your insurer offers a percentage of your overall personal property coverage limit; 10% of your personal property coverage is typical.
• Endorsements for high-value items. High-value items are almost always covered at lower amounts unless they’re scheduled or endorsed, meaning they are insured separately from your baseline coverage. However, you’ll need to confirm with your insurer whether the endorsement extends to off-premises items.
• No storage-specific exclusions. While renters insurance coverage includes off-premises coverage, some items, like computers and business merchandise, may be specifically restricted from coverage when off-premises.

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