Does My Homeowners Insurance Cover My Storage Unit?

insurance for storage units

Storage units are an extension of your home, and they often store some of your most valuable and sentimental belongings. So, it is essential to keep them safe. Here’s how your homeowners insurance can help protect your belongings.

Will My Homeowners Policy Cover a Storage Unit? 

Homeowners insurance typically includes personal property coverage. Your items in a storage unit are typically provided by the “off-premises” segment of personal property coverage in a homeowners policy. Off-premises coverage usually has lower limits than your standard personal property coverage. It usually is about 10 percent of your standard personal property coverage. Your off-premises insurance covers theft, fire, wind, tornado, lightning, and smoke.

What if the value of my stored items is greater than my off-premises coverage?

If the value of your stored items exceeds your off-premises coverage, then it might be worth considering increasing your coverage limits. This would ensure that your items are covered in the case of a loss. Suppose you intend to place highly valuable items, such as art or jewelry, in a storage unit. In that case, you may want to purchase scheduled personal property coverage to protect those items specifically.

What is Not Covered by my Home Insurance?

The personal property coverage of your homeowners policy only covers some things. It typically will not cover flooding, earthquakes, mold, or mildew. Personal property coverage also will not cover the losses if it was your actions that caused the damage to your belongings in storage.

What Else Can I Do to Protect My Items in Storage?

Make sure to keep a lock on your storage unit at all times and keep any access codes to only people you trust. Taking photos of what you have in the storage unit can also come in handy if a theft occurs and you need to prove what went missing.

Let’s Talk

Some homeowners insurance policies offer endorsements extending coverage, or increased limits of coverage depending on the carrier and the policy type. We always encourage speaking with a qualified agent who can address the specifics of the individual policy.

Protect what means most to you. Talk to one of our experienced Avery Hall agents today at 410-742-5111 to learn more about how you can protect your belongings in storage.

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