What storage insurance covers and how to know if I really need it
Vancouver storage facilities are insured against losses or damage for the buildings and equipment used to store your items. However, that insurance does not extend to customers’ personal items contained within. Therefore, you are responsible for securing your own insurance.
Which items storage insurance covers depends on what type of insurance you have. For instance, you might expect your homeowner’s or renter’s insurance to cover possessions you have in Vancouver lockers. It’s more often the case that it only covers a tiny percent, like 10%, if at all. Or it only provides coverage for a short period of time, like 30-90 days. Additionally, it won’t cover vehicles.
So, if you want to insure your items, you will have to seek out additional coverage. ICBC offers extra coverage for vehicles in storage. Check with your home insurance or rental insurance broker to see if they provide replacement coverage for your other possessions. One caveat is they may only provide coverage for storage at a reputable facility with high levels of security, like we have here at Storguard.
Questions to ask a broker regarding insurance to cover items stored in Vancouver storage units include: which items are covered, what time period are they covered for, and for which conditions does the policy provide protection, ie. fire, weather, theft, damage, etc.
Storage insurance is a personal choice. If you are storing valuable items, it may be wise to ensure they have adequate coverage. Or if you just want the peace-of-mind that comes knowing all your items are covered, speak with an insurance broker to get a stand-alone policy exclusively for your storage unit.
Have questions about this article or our services? Give us a call! Storguard Self-Storage has 5 convenient locations to serve you