Before renting a Katy climate controlled storage unit, give some thought about what you would do if something happened to your stored items. Contrary to popular belief, storage facilities’ insurance policies only protect the building and grounds; they do not protect the stuff inside the storage units. If the items you store are damaged, destroyed or even stolen, then, you could be out of luck. Homeowner’s and renter’s insurance policies often include off-premises coverage, but there are usually strict limits and a lot of fine print. Needless to say, it pays to find out whether your items will be protected — and the extent to which they will be protected — before renting a storage unit.
If you have homeowner’s or renter’s insurance, your policy most likely includes some sort of off-premises coverage. Do not assume you are in the clear just yet, though. Such policies are often confusing, and it is easy to get burned. In most cases, off-premises coverage is limited to either $1,000 or 10 percent of the policy’s personal property limit — whichever is greater. As long as you are not storing too many things or storing big-ticket items, you should be good to go. Be sure to confirm this before signing the lease agreement.
What if your homeowner’s or renter’s insurance policy does not offer off-premises coverage, or what if the coverage is not enough for the items you would like to store? You may not even have renter’s insurance or homeowner’s insurance; what then? Thankfully, the vast majority of self storage facilities offer self storage insurance. Many third-party providers offer this coverage too. The simplest thing is to just purchase coverage directly from the Katy or Cypress self storage facility you are going to use. If that is not an option, shop around a little. Plenty of companies offer affordable self storage coverage, so it is easy to come by.
As with any type of insurance coverage, self storage insurance is not necessarily cut and dry. In other words, such policies usually have at least a few exceptions. Once again, always read the fine print. Nothing is worse than thinking your belongings are protected by a policy and finding out — after they are destroyed or stolen — that your policy was not quite as effective as you had assumed. For instance, many self storage policies exclude damage due to flooding. While burglary is covered, there must be clear evidence that the unit was broken into for the lost items to be covered. Damage from rodents, insects and other pests is not usually covered, and big-ticket items like jewelry and fine art usually are not, either.
While investigating Cypress or Katy mini storage facilities, compare and contrast the kinds of self storage insurance coverage they provide. In many cases, there is a limit on the total value that may be covered in a single unit. If there is a $5,000 limit, and you have $10,000 worth of stuff, it is in your best interests to rent two units. Without doing so, you stand to lose a lot of money, and at least half your items will not be covered if something goes wrong.
Self storage is a great way to free up space around the home or to make a move simpler and easier. Knowing that your items are protected by a solid insurance policy will afford you the peace of mind you need. Unless you can afford to replace everything you plan to store, make sure to do some research about how your items will be protected. Whether the protection comes from a renter’s or homeowner’s insurance policy, through a self storage insurance policy from the facility or through a policy from a third-party provider, knowing your belongings are protected will help you breathe a lot easier.