If you're familiar with buying and selling homes then you'll understand that there is always a very real chance that your closing dates won't line up. If this happens then you might find yourself in a situation where you'll have to put your belongings in storage units. This can be a scary thought since your contents are precious and moving them around so much might lead to unforeseen accidents. How are you protecting yourself in the process?
Check your home insurance policy
You probably wouldn't know it from looking directly off your declarations page, but your homeowners insurance policy will cover your contents anywhere -- not just at home. The caveat is that they're not completely covered up to the full value indicated on your policy. The majority of insurance companies will only cover you up to 10% of the indicated value for content coverage listed on your declarations page. It's enough to give you some piece of mind for a few days but it won't protect you against a catastrophic event.
Check with the storage unit facility
There probably isn't a storage facility around that won't offer to sell you on their insurance plans. And, to be honest, it might not be a bad idea if you can get more coverage for cheaper. Depending on how far into the term of your homeowner policy you are, you can cancel it and get a refund. Typical storage facility insurance plans are usually pretty cheap -- we're talking less than a dollar a day -- and offer you limits comparable to what you'd be covered for under your homeowners policy.
Low cost isn't the only benefit, however. Typically you can get lower deductible options for your items than what's listed on your homeowners policy. Sometimes, depending on which facility you go to, you won't have any deductible at all.
Filing a claim through your homeowners company will also show up on your insurance score, could raise your insurance, and could make you ineligible for future coverage with certain companies. Filing a claim through a storage insurance plan protects you because you'll be filing it through the tenant insurance company. In other words, it won't show up on your insurance score.
In the end, you'll want to choose whatever you think is best for you and your family. You can't go wrong with either option as they're both low-cost, comprehensive, and relatively hassle-free. The most important thing is knowing your contents are covered.
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