Self Storage: Are You covered?

It’s safe to say at some point in your life you’re going to need a self storage unit. With a booming housing market in North Texas, most families homes are selling faster than they can find a new place to live. Requiring them to move into apartments or rental houses for a temporary amount of time. In most cases, you can’t fit everything from your home into an apartment so you end up renting slef storage space.

There is a good chance when your renting the storage unit that the manager of the facility will ask if you have self storage insurance. What exactly is self storage insurance? It’s a policy that covers the valuables you are storing at their facility from damage should a disaster occur like a fire, tornado, flood or earthquake.

But do I really need a self storage insurance policy? 

In most cases, the answer to this question is NO. Your pre-existing homeowners, renters or business insurance should cover any damages caused to your valuables during storage. So if you are currently covered, then you’re safe. Most storage facilities will recommend self storage insurance to their customers as an upsell at their location. They are essentially playing on your fear to boost their bottom line. We must mention that most self storage rental facilities have policies requiring some form on insurance on your valuable prior to rental of a unit. So we recommend bringing in a copy of your existing policy at the time of renting the space.

Still not sure if you’re covered? Our agents at Lifelong Insurance would be glad to review your policy with you to determine any gaps you may have. Give us a call today at 469-606-4590.