Using a self-storage facility with impeccable security measures is good, but this isn't the only thing you should do to safeguard your stored valuables. Things still happen that may be beyond the control of these facilities, and insuring your valuables is the best way to offer them total protection. Here are four things to consider before getting such insurance:
Consider the Storage Facility's Coverage
Many storage facilities have standard insurance coverage, or financial reimbursement, for clients who lose their items. Such reimbursement may not be adequate if you are storing valuable merchandise. For example, the financial limit may be based on the square footage you are leasing, and some valuable items (such as jewelry) do not require much space.
In that case, ask about the facility's extra coverage. Most facilities have offers of supplemental packages that you can use, for a small fee, if you feel that the standard coverage is inadequate.
Evaluate Your Homeowners' Insurance Coverage
If you are lucky, then you may not need additional insurance because your homeowners' coverage may be enough. Talk to your insurance agent, or insurance carrier, to confirm whether your policy has such a provision. As usually, confirm that the coverage limits offer you the protection you need. Also, don't forget to understand the terms and conditions attached to the coverage. For example, damage from mold and mildew are usually excluded, but this shouldn't be a concern if you have packaged your items properly and stored them in a top-notch storage facility.
Get Special Insurance
Most insurance companies sell coverage for valuable items stored in self-storage facilities. Get such a package if both the storage facility's and homeowners' coverage are either inadequate or nonexistent. This is especially necessary if you plan on storing valuables with high-dollar values such as artwork or fur clothing. In most cases, getting coverage from your current insurance company (for example, your auto insurance or homeowners' insurance carrier) is wiser than talking to a new insurer. This is because your current carrier may offer you multi-policy discounts. Talk to your insurance agent for the best packages for your stored valuables.
Using insurance to protect your valuables is good, but don't forget to confirm that the storage facility you are using should also have its measures for protecting its clients' valuables. For example, the facility should secure itself against weather-related damages, theft, and vandalism. The combination of a good facility and adequate insurance coverage should give you peace of mind. Click here for more information.
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