Self storage facilities have become increasingly popular over the years, as people look for a convenient way to store their belongings. However, while renting a storage unit can be an effective solution for storing items, it’s essential to consider the potential risks and liabilities involved. This is where it is essential that your goods are adequately protected.
By choosing StoreProtect we agree to accept liability for any damage caused while the goods are stored in our facility. StoreProtect is designed by the industry specialist, Basil Fry & Company and further to paying our StoreProtect fees, your personal belongings are protected from damage, theft, or loss while they are in storage.
Choosing StoreProtect is important for several reasons:
- It protects your personal belongings from damage, theft, or loss while they are in storage. Storage units can be susceptible to natural disasters, such as fires and floods, as well as theft, vandalism, and rodent infestation. While such instances are rare, choosing StoreProtect gives you total peace of mind knowing that your belongings are protected.
- StoreProtect provides additional coverage beyond what may be covered by traditional home insurance. While some home insurance policies extend coverage to self storage, it is often limited.
- The cost of arrangements such as StoreProtect are a small price to pay compared to the potential costs of repairing or replacing damaged or stolen items. Furthermore, some storage facilities may require tenants to have protection in place before renting a unit.
Do you need cover for self storage?
Most storage facilities will require tenants to have protection in place at the time of renting a unit. While this may seem like an additional cost, it’s worth noting that the storage facility may have strict policies in place to ensure the safety and security of your belongings. Particularly if the facility is a member of the Self Storage Association UK, as having protection is mandatory within their best practice frameworks to safeguard customer possessions.
How much does cover cost?
Much like with home insurance, the cost can vary depending on a number of factors, such as the facility location, room size, and accessibility, as well as the nature and values of goods going into storage. These variables aside, protection for goods is very cost-effective and flexible. For example, prices at blue self storage start from as little as 13p per day and run on monthly rolling contracts.
What does it mean to be underinsured?
In order to be sufficiently protected, you must declare the correct maximum replacement value of the goods you’ll be storing in your unit on a ‘new for old’ basis. By ‘new for old’ we mean replacing the goods with new items and not their second-hand value. It’s therefore crucial to provide us with the correct value to ensure you are adequately protected which would lead to any claim being proportionally reduced. As an example, if you declare £5,000, but your goods are found to be worth £10,000, you would be underinsured by 50% and would only receive 50% of any claim (in this instance a maximum of £2,500).
The verdict
Protecting your goods is essential for anyone renting a storage unit. It provides peace of mind, and is often required by storage facilities.
While the cost may seem like an unnecessary expense, it’s a small price to pay for the added security and peace of mind.
We hope our guide has answered everything you wanted to know about why it is important to protect your goods in store. If you’d like to know more, get in touch – we’re a friendly bunch!
#StorageMadeSimple
New to self storage? Explore our #StorageMadeSimple series with our experts:
- What is self storage?
- How to choose the right size storage unit when you’re moving house
- Why do people use self storage?
